Pharmaceuticals Galderma confirms annual targets thanks to sales growth after 9 months

The skincare group Galderma increased its turnover in the first nine months of 2024. With this increase, the company, which has been listed on the SIX Swiss Exchange since March, is well on track to achieve its own targets.

As Galderma announced on Thursday, sales after nine months amounted to 3.26 billion US dollars, an increase of 9.2 percent.

Growth was seen across all product categories and geographical regions. The "injectable aesthetics" business, which includes Galderma's numerous Botox products, grew by 10.6 percent to 1.7 billion dollars in the reporting currency. The growth in this product category was attributable to both the international markets and the US business, with the international markets continuing their double-digit growth trend.

The "dermatological skin care" segment - where the company produces moisturizing, anti-aging and sun creams, for example - recorded a 10.6 percent increase in sales to 990 million dollars. The two most important brands, Cetaphil and Alastin, were the main contributors to this growth. The particularly strong growth of Cetaphil on the international markets more than compensated for lower sales in the USA.

Finally, the "therapeutic skin care" category grew by 2.9 percent to 571 million dollars. This business includes products for the treatment of skin diseases such as acne, rosacea and skin cancer. The sustained momentum on the international markets supported the business.

At the same time, Galderma achieved its first sales with the recently approved Nemluvio (nemolizumab). As a reminder: In August, the U.S. FDA gave the green light for use in adults with prurigo nodularis, a rare skin disease. According to the press release, this is an important milestone that will enable Galderma to achieve strong growth in therapeutic dermatology and in the USA.

Outlook confirmed

The company confirms its outlook for the year as a whole, although the expected range for sales growth has been narrowed further. Accordingly, the management now expects currency-adjusted net sales growth of 8.8 to 9.5 percent compared to the previous year.

In the summer, Galderma had stated that it expected growth at the upper end of the range of 7-10 percent. The currency-adjusted core EBITDA margin is expected to be at the 2023 level. At that time, this key figure was 23.1 percent.

SDA