Galderma reports net sales totaling more than $3 billion for third quarter 2023

Key takeaways:

• Galderma achieved net sales of more than $3 billion, a year-on-year increase of 8.9%.
• The company expects to reach “the upper end” of its net sales guidance of 6% to 9% constant currency growth.

Galderma has announced its third quarter financial results, in which net sales for 2023 are up 8.9% from the same period last year, according to a company press release.

Reaching net sales of more than $3 billion since January, the company is on pace for “the upper end” of its 2023 net sales guidance of 6% to 9% constant currency growth.

“We are very pleased with our strong performance, having continued to drive growth and outpace the market, leveraging our truly differentiated integrated dermatology strategy,” Flemming Ørnskov, MD, MPH, CEO of Galderma, said in the release. “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 3 trial results for nemolizumab.”

Galderma saw single-digit growth across its full range of injectable aesthetics, with double-digit growth specifically in neuromodulators and biostimulators. The company is gearing up to launch the only liquid ready-to-use neuromodulator, Alluzience, in 13 more countries.

Double-digit growth in dermatological skin care was driven by two flagship brands: Cetaphil, which introduced new product ranges and a digital artificial intelligence skin analysis tool; and Alastin Skincare, which expanded to the U.K. and shifted to direct distribution in Canada this quarter.

Galderma had single-digit year-on-year net sales growth in therapeutic dermatology, mostly due to yield improvement measures in the U.S. that boosted the brands Differin, Soolantra and Aklief.