The Business of Fashion
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Swiss skincare firm Galderma said on Thursday it had logged sales of $3.26 billion during the first nine months of the year, up 9.2 percent from the same period a year earlier in constant currency terms.
The company, which listed on the stock exchange in March, said it expected net sales growth of between 8.8 percent and 9.5 percent for 2024. Previously, it had forecast between 7 percent to 10 percent.
Galderma said sales grew across product categories and geographies and were up by more than 10 percent in Injectable Aesthetics and Dermatological Skincare.
The firm said growth was driven by its so-called International reporting area, which comprises all countries except the United States, and which represented 59 percent of group sales at the end of the nine-month period.
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CEO Flemming Ornskov told Reuters that China was one of the fastest growing markets in the latest set of results, also highlighting Latin America and the Asia Pacific region as a whole. Britain had also seen “very strong growth”, he said.
Closing on Wednesday at more than 78 Swiss francs ($90.13), shares in the company are up by more than 47 percent compared to the final price for its initial public offering of 53 francs.
When asked, Ornskov said it was too early to give guidance for 2025, but he noted:
“Well, we’re a growth company, and I think we will continue to show very good growth.”
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L’Oréal to Acquire 10% Stake in Swiss Skin Care Company Galderma
L’Oréal will acquire a 10 percent stake in Swiss skin care firm Galderma from a group of major shareholders, the two companies said on Monday, as the French firm seeks a cut of the profits from the booming medical cosmetics market.
