Who Optimizes SG&A Costs Better? argenx SE or Bausch Health Companies Inc.

Optimizing SG&A: A Tale of Two Companies

In the competitive landscape of the pharmaceutical industry, managing Selling, General, and Administrative (SG&A) expenses is crucial for profitability. Over the past decade, Bausch Health Companies Inc. and argenx SE have taken distinct paths in optimizing these costs. From 2014 to 2023, Bausch Health consistently reported higher SG&A expenses, peaking at approximately $2.9 billion in 2023. In contrast, argenx SE, a rising star in the biotech sector, started with a modest $4.2 million in 2014, growing to $709 million by 2023. This represents a staggering increase of over 16,600%, reflecting argenx's rapid expansion and investment in growth. Meanwhile, Bausch Health's expenses grew by about 44%, indicating a more stable, albeit higher, cost structure. This comparison highlights the strategic differences in cost management between an established player and an emerging innovator.