Who Optimizes SG&A Costs Better? Halozyme Therapeutics, Inc. or Merus N.V.

Optimizing SG&A Costs: A Tale of Two Biotechs

In the competitive world of biotechnology, managing Selling, General, and Administrative (SG&A) expenses is crucial for sustaining growth and profitability. Halozyme Therapeutics, Inc. and Merus N.V. have been navigating this financial landscape since 2014. Over the past decade, Halozyme has seen its SG&A expenses grow by approximately 315%, peaking in 2023. In contrast, Merus N.V. has managed a more modest increase of around 145% over the same period.

Halozyme's expenses surged notably in 2022, reaching nearly 2.5 times their 2014 levels, while Merus N.V. maintained a steadier trajectory. This divergence highlights different strategic approaches: Halozyme's aggressive expansion versus Merus's cautious scaling. As investors and industry watchers analyze these trends, the question remains: which strategy will yield better long-term returns? The data suggests that while both companies are growing, their paths to optimizing SG&A costs are distinct.