The pure-play business, which was originally set up as a joint venture between Nestlé and L'Oréal in 1982, puts a focus on derma skin care brands like Cetaphil, as well as medical-grade products such as muscle relaxants, fillers and creams to treat conditions like rosacea.
For the full year of 2023, sales for its Dermatological Skin Care sector were up by 12.1%, echoing the trend that’s being seen among other derma skin care/pharmacy-inspired brands too. For example, Beiersdorf’s Eucerin and Aquaphor brands are seeing ever-growing sales, along with L'Oréal Group’s CeraVe and La Roche Posay, to name just a few.
Galderma has also seen growth across its other product categories too: with Injectable Aesthetics up by 6.5% and Therapeutic Dermatology up by 8.7%.
Meanwhile, sales figures in international markets (outside of the EU) were also up by 12.3% and the company said it saw strong performances in UK, China, India, Brazil, and Mexico.
Galderma’s flagship brands, Cetaphil and Alastin, drove substantial growth that was ahead of the market and continued with both geographical and portfolio expansion. New launches included products like Cetaphil Healthy Renew, Alastin ReSURFACE Skin Polish and the C-RADICAL Defense Antioxidant Serum.
The business stated that both brands have “outpaced the market – based on their differentiated positioning in sensitive skin and peri-procedure skin care respectively.”
Cetaphil hit the one billion dollars mark
In 2023, the Cetaphil brand surpassed a record ‘one billion dollars mark’ (in US dollars) in net sales and the brand’s product portfolio continues to evolve to address a wide range of sensitive skin needs: such as a retinol alternative for sensitive skin that is formulated with purified peptides to help fight visible signs of aging.
Galderma said that Cetaphil also continued to focus on omnichannel execution, especially in fast-growing markets, with the expansion of its salesforce, retailer distribution, as well as e-commerce and digital engagement.
In 2023, it also launched Cetaphil AI Skin Analysis, a skin analyser that offers personalised skin assessment scores and recommendations.
With a selfie, the digital tool compares the photo to a robust database of 70,000 diverse skin images to create an inclusive, personalized report revealing skin type, skin concerns and proneness to various skin conditions.
Alastin expansion in new markets
In 2023, the growth of Alastin remained strong. The brand boosted its penetration in the US market and launched new products such as ReSURFACE Skin Polish® and C-RADICAL® Defense Antioxidant Serum. It also “initiated targeted international expansion” for the range in the UK and Mexican markets and gained direct distribution in Canada.
In Therapeutic Dermatology, Galderma has also made progress to expand its leading portfolio and planned entry into the fast-growing biologics sub-segment. The business showcased positive data from four phase III trials to investigate the treatment of atopic dermatitis and prurigo nodularis with nemolizumab. Then in February it announced regulatory filing acceptances for nemolizumab in prurigo nodularis and atopic dermatitis for both the EU and US markets.
On 10th March it announced new data demonstrating nemolizumab’s long-term and increasing efficacy on skin lesions and other symptoms in prurigo nodularis.
The global head of R&D at Galderma Baldo Scassellati Sforzolini said he was: “excited to see the evidence base for nemolizumab continue to build and strengthen for these debilitating diseases, where symptoms such as intense itch can put a significant burden on quality of life.”
Having already demonstrated nemolizumab’s efficacy and rapid onset of action, these new results show its long-term benefit and durability of response in prurigo nodularis and atopic dermatitis, respectively,” he continued.
Plans to float on Swiss stock exchange
Meanwhile, Galderma’s CEO Flemming Ørnskov said that 2023 has been a “landmark year for Galderma, underscoring the strong momentum and sustained growth we have seen over the past four years.”
Ørnskov said he expected this momentum to continue in 2024 and beyond, leveraging its business’ pure-play dermatology focus, the strong positions of its Cetaphil, Dysport, Sculptra and Restylane brands, its global scale omnichannel execution, and education and services.
“With our robust and fully established integrated dermatology platform and our leading science and innovation, Galderma is set to continue on its strong growth trajectory,” he stated.
The business has also shared its intention to raise around $2.3bn (around €2.1bn) in a flotation on the Swiss stock exchange this month, in what could be one of the biggest initial public offerings (IPO) in Europe this year.
This comes as other European beauty companies, such as German beauty retailer Douglas, also work on potential IPOs.