Yesterday, Swiss skincare firm Galderma announced robust financial results for the first nine months of the year, reporting sales of $3.26 billion, marking a 9.2% increase in constant currency compared to the previous year. The company, which went public in March, projects net sales growth of 8.8% to 9.5% for 2024, a slight upward adjustment from its earlier forecast of 7% to 10%.
In the Injectable Aesthetics category, Galderma achieved net sales of $1.698 billion, reflecting a year-on-year growth of 10.6% in constant currency. Both sub-categories, Neuromodulators and Fillers and Biostimulators, experienced double-digit growth. Neuromodulators generated $926 million, up 10.4%, while Fillers and Biostimulators saw sales of $772 million, up 10.9%. Demand for fillers faced some market softness, despite notable growth in regions like Asia Pacific.
In Dermatological Skincare, net sales reached $990 million, growing by 10.6% year-on-year at constant currency. This growth was largely driven by Galderma’s flagship brands, Cetaphil® and Alastin®. While Cetaphil experienced strong international growth that offset declines in U.S. consumer consumption, Alastin continued to thrive in the U.S. market across various channels.
Galderma’s International reporting area, which excludes the U.S., accounted for 59% of total group sales at the end of the nine-month period CEO Flemming Ornskov noted that China is emerging as one of the fastest-growing markets, alongside Latin America and the Asia Pacific region, with the UK also showing “very strong growth.”
