Selling, General, and Administrative Costs: Pfizer Inc. vs GSK plc

A Decade of SG&A: Pfizer Inc. vs GSK plc

In the ever-evolving pharmaceutical industry, managing operational costs is crucial for maintaining competitive advantage. Over the past decade, Pfizer Inc. and GSK plc have demonstrated distinct strategies in handling their Selling, General, and Administrative (SG&A) expenses. From 2014 to 2023, Pfizer consistently outspent GSK, with an average SG&A expense of approximately $14 billion annually, compared to GSK's $9.8 billion. Notably, Pfizer's expenses peaked in 2016, reaching nearly $14.8 billion, while GSK's highest expenditure was in 2020, at around $11.5 billion. This trend highlights Pfizer's aggressive investment in administrative capabilities, potentially reflecting its expansive global operations. Meanwhile, GSK's more conservative spending may indicate a focus on efficiency and cost control. As both companies navigate the post-pandemic landscape, their SG&A strategies will be pivotal in shaping their future market positions.