Selling, General, and Administrative Costs: Bristol-Myers Squibb Company vs Ultragenyx Pharmaceutical Inc.

A Tale of Two Companies: SG&A Expenses Over Time

In the competitive landscape of the pharmaceutical industry, managing costs is crucial for sustaining growth and innovation. This analysis compares the Selling, General, and Administrative (SG&A) expenses of two prominent players: Bristol-Myers Squibb Company and Ultragenyx Pharmaceutical Inc., from 2014 to 2023.

Bristol-Myers Squibb Company

Bristol-Myers Squibb, a giant in the pharmaceutical sector, has seen its SG&A expenses fluctuate over the years. Starting at approximately $5.7 billion in 2014, the company experienced a dip to around $4.6 billion in 2018, before surging to nearly $7.8 billion by 2023. This represents a 36% increase over the decade, reflecting strategic investments in marketing and administration.

Ultragenyx Pharmaceutical Inc.

In contrast, Ultragenyx, a smaller biotech firm, began with modest SG&A expenses of about $10.8 million in 2014. By 2023, these costs had escalated to approximately $310 million, marking a staggering 2,770% increase. This growth underscores Ultragenyx's aggressive expansion and scaling efforts.

Conclusion

This comparison highlights the differing strategies and growth trajectories of these two companies. While Bristol-Myers Squibb focuses on maintaining its market position, Ultragenyx is rapidly scaling its operations, as evidenced by its exponential rise in SG&A expenses.