SG&A Efficiency Analysis: Comparing Pfizer Inc. and Celldex Therapeutics, Inc.

SG&A Efficiency: A Tale of Two Companies

In the competitive landscape of pharmaceuticals, understanding operational efficiency is crucial. This analysis compares the Selling, General, and Administrative (SG&A) expenses of Pfizer Inc. and Celldex Therapeutics, Inc. from 2014 to 2023. Over this period, Pfizer's SG&A expenses remained relatively stable, averaging around $14 billion annually, with a slight dip in 2020 to $11.6 billion. In contrast, Celldex's expenses fluctuated more dramatically, peaking at $36 million in 2016 before dropping to $14 million in 2020. This disparity highlights the scale and operational strategies of these companies. While Pfizer's expenses reflect its vast global operations, Celldex's variations suggest a more dynamic approach, possibly due to its smaller size and focus on niche markets. Understanding these trends provides valuable insights into how these companies allocate resources to maintain competitive edges in the ever-evolving pharmaceutical industry.