Operational Costs Compared: SG&A Analysis of Regeneron Pharmaceuticals, Inc. and Exelixis, Inc.

SG&A Expenses: A Tale of Two Biotech Giants

In the competitive world of biotechnology, operational efficiency is key. Over the past decade, Regeneron Pharmaceuticals, Inc. and Exelixis, Inc. have demonstrated contrasting trajectories in their Selling, General, and Administrative (SG&A) expenses. From 2014 to 2023, Regeneron's SG&A expenses surged by over 400%, peaking at approximately $2.63 billion in 2023. This reflects their aggressive expansion and investment in administrative capabilities. In contrast, Exelixis, while also experiencing growth, saw a more modest increase of around 970%, reaching $543 million in the same period. This disparity highlights Regeneron's larger scale and broader market reach. The data underscores the strategic choices each company has made in managing operational costs, with Regeneron focusing on scaling up rapidly, while Exelixis adopts a more measured approach. As the biotech landscape evolves, these financial strategies will play a crucial role in shaping their future success.