Galderma is an emerging pure-play dermatology category leader, present in approximately 90 countries. The company delivers a science-based portfolio of premium flagship brands and services that span the full spectrum of the fast-growing dermatology market though Injectable Aesthetics, Dermatological Skincare and Therapeutic Dermatology.
“We are very pleased with our strong performance, having continued to drive growth and outpace the market, leveraging our truly differentiated integrated dermatology strategy. Galderma has the largest dermatology portfolio in our industry, and innovation remains at the forefront of our priorities to build the leading dermatology platform in the world, with notable updates for the quarter in liquid neuromodulators, the expansion of Alastin Skincare and positive phase III trial results for nemolizumab.”
Net sales in Injectable Aesthetics saw single-digit growth year-on-year over the first nine months of 2023 on a constant currency basis.
While Galderma continued to gain market share across its full Injectable Aesthetics portfolio, Neuromodulators and Biostimulators continued to grow double-digits, more than offsetting the softness in the filler market in some countries.
Galderma continues to outpace the market with its leading services, such as its healthcare professional education and FACE by Galderma, an augmented reality solution launched earlier this year.
In Dermatological Skincare, Galderma experienced double-digit net sales growth year-on-year over the first nine months of 2023 on a constant currency basis. Growth, which was ahead of the market, was driven by its two flagship brands Cetaphil and Alastin Skincare.
Cetaphil continues to maintain good growth momentum and outpace the market. With especially strong performance in Asia and Latin America, Cetaphil growth was driven by successful e-commerce execution, distribution expansion, and innovation. Innovation in Cetaphil this year has included new product ranges, such as recently launched Healthy Renew, and new solutions, including Cetaphil’s digital AI skin analysis tool.
In the first nine months, growth in Alastin remained robust. Performance was strong in the U.S. across all channels, supported by new innovations, such as ReSURFACE Skin Polish and C-RADICAL Defense Antioxidant serum. As for international expansion, following the successful launch of Alastin Mexico, Galderma announced its launch in the UK in the quarter, as well as direct distribution in Canada, where the product was previously distributed through a partner.
Continued momentum in Therapeutic Dermatology delivered high single-digit net sales growth year-on-year over the first nine months of 2023 on a constant currency basis, driven by successful yield improvement measures in the U.S., boosting key brands including Differin, Soolantra and Aklief, and continued growth in international markets.
In Therapeutic Dermatology, Galderma had some important milestones in advancing its pipeline with nemolizumab. At the European Academy of Dermatology and Venerology (EADV), Galderma showcased positive data from three pivotal phase III trials for the treatment of atopic dermatitis (AD) and prurigo nodularis (PN) with nemolizumab.
Based on the strong performance so far, Galderma is on track to deliver at the upper end of its 6-9% net sales constant currency growth range. As for profitability, Galderma confirms its full year guidance of 200-300 bps core EBITDA margin expansion versus 2022.