Galderma lifts outlook for second quarter in a row after sales jump

ZURICH, Oct 22 — Swiss skincare company Galderma raised its full-year sales ​guidance on Thursday for the second time in two quarters after strong demand for its therapeutic ‌dermatology products drove robust growth in the first nine months of the ⁠year.

The company reported net ​sales of $4.77 billion for January ⁠to September, up 25.1% from a year earlier. ‌Third-quarter sales growth ‌was 26%.

Galderma raised its full-year net sales growth ⁠forecast to between 22.5% and ⁠23.5% from 19% to 21%.

Its shares rose as much as 5.8% in morning trade. The stock has more than tripled in value since the company listed on the Swiss stock exchange in March 2024.

Injectable ‌aesthetics sales rose 13.2% in the ​first nine months, while dermatological skincare sales increased 16.2%. Therapeutic dermatology sales jumped 64.4%, helped in part by strong demand for its Nemluvio product.

CEO Flemming Ornskov said the company was assessing the impact of so-called Section 232 tariffs that took effect in the ​US in September, including on Nemluvio.

With companies facing higher ‌costs from disruptions ‌linked ⁠to the US-Iran conflict, pricing is under close scrutiny across the industry.

Ornskov noted that competitors in markets such as China and India operated from a lower cost ‌base.

"But given that we ​are segmented more to premium, ‌we're holding up ⁠really well," ​he said.

(Writing by Dave Graham. Editing by Linda Pasquini and ​Mark Potter)

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