Pfizer Inc. or Amgen Inc.: Who Manages SG&A Costs Better?

Pfizer vs. Amgen: A Decade of SG&A Management

In the competitive landscape of the pharmaceutical industry, managing Selling, General, and Administrative (SG&A) expenses is crucial for maintaining profitability. Over the past decade, Pfizer Inc. and Amgen Inc. have demonstrated contrasting approaches to handling these costs. From 2014 to 2023, Pfizer's SG&A expenses averaged around $14 billion annually, peaking in 2016. In contrast, Amgen maintained a more conservative approach, with expenses averaging approximately $5 billion, showing a steady increase over the years.

Pfizer's expenses were consistently about 2.5 times higher than Amgen's, reflecting its larger scale and broader market reach. However, Amgen's ability to keep costs relatively stable, with a notable increase only in 2023, highlights its efficient cost management strategy. This comparison underscores the importance of strategic financial planning in sustaining long-term growth and competitiveness in the pharmaceutical sector.