Galderma Achieves Record-Breaking Net Sales for H1 2026

Net sales reached $3.13 billion for Happi International Top 30 Company Galderma Group AG, surpassing $3 billion for the first time in the first six months of the year. The figure represents net sales growth of 24.6% at constant currency, officials said.

Officials attribute the increase to broad-based, double-digit growth in both international markets and the US, as well as in all product categories, primarily driven by volume and complemented by favorable mix. Outperforming the market in each product category, with net sales growth year-on-year at constant currency of 16.4% in Dermatological Skincare and 67.9% in Therapeutic Dermatology.

Demonstrating leadership in dermatology through ongoing geographic expansion and differentiated innovation, including Nemluvio (nemolizumab), which generated $433 million in net sales; Relfydess (RelabotulinumtoxinA), which continues to ramp-up with approvals in 33 international markets; alongside continued investment in science-based innovation and medical education.

“Galderma delivered a strong first half of 2026, with broad-based growth across geographies and product categories, reflecting the strength of our integrated dermatology strategy,” said CEO Flemming Ørnskov. “Our upcoming inclusion in the Swiss Market Index, Switzerland’s leading blue-chip equity index, effective Sept. 21, is an important milestone in our journey as a listed company and further recognition of Galderma’s progress. Building on this momentum, we are raising our full-year net sales growth guidance as we continue to advance our dermatology powerhouse ambition.”

Dermatological Skincare

Dermatological Skincare net sales for the first six months were $848 million, with year-on-year growth of 16.4% at constant currency. Galderma maintained strong growth momentum across its Dermatological Skincare flagship brands, Cetaphil and Alastin. As anticipated, growth was strong benefitting from a lower comparable base in the period. Growth was positive in both the US and international markets, with double-digit growth for Cetaphil in fast-growing international markets and for Alastin in both geographies.

Officials say market outperformance continues to be driven by focused execution, innovation and portfolio synergies, with e-commerce remaining the fastest-growing channel. Cetaphil performance remains outstanding in China, while markets globally are benefitting from scaling existing innovation, including Cetaphil Skin Activator in the US, Cetaphil Baby in India and Cetaphil Purifying Acne serum in China. Alastin continues to outperform the physician-dispensed market in the US while Galderma continues to invest in its expansion in international markets, with recent launches in China, Australia and now Japan and Taiwan.

Therapeutic Dermatology

Therapeutic Dermatology net sales for the first six months were $848 million, up 67.9% year-on-year at constant currency. Officials said growth remained very strong, driven by the ramp-up of Nemluvio, complemented by higher-than-expected growth from the mature Therapeutic Dermatology portfolio during the period against a low comparative base and benefitting from delayed generic entries.

Nemluvio continues a strong launch trajectory globally, with net sales for the first half of the year of $433 million. The US continues to represent most sales, with a greater contribution from atopic dermatitis than prurigo nodularis. Nemluvio also contributed more than half of Therapeutic Dermatology net sales overall for the first time.

In the US, Nemluvio paid new patient starts (NBRx) from mid-June to early July 2026 trended at approximately 42% market share in prurigo nodularis and 9% in atopic dermatitis. Underlying demand remains strong, as most patients starting treatment continue to be new to biologics.

In international markets, which represent only a small portion of total Nemluvio sales, the launch trajectory continues to be even stronger, officials said. In addition, regulatory reviews and approvals for Nemluvio continue to progress, including the recent approval in Brazil for both prurigo nodularis and atopic dermatitis, alongside additional reimbursement wins in key international markets that support broader patient access.

Galderma says it is committed to its mature Therapeutic Dermatology portfolio globally, continuing to expand through new geographic launches and lifecycle management of its molecules, even in the face of strong generic pressures. This includes the recent US FDA approval of Differin Epiduo Acne Gel (Adapalene 0.1% and Benzoyl Peroxide 2.5% Acne Treatment) for over the counter (OTC) use in ages 12 years and older, marking an important Prescription-to-OTC transition in acne care.

Science-Led Innovation

Galderma says it continues to reinforce its science-led innovation and medical education in dermatology. This includes advancing its R&D pipeline across product categories, while exploring external opportunities. It also includes generating new scientific data and insights to be presented at global congresses and company-led medical education events. In terms of its innovative R&D pipeline, Galderma progressed multiple development programs with differentiated innovation in Dermatological Skincare, and potential new indications for Nemolizumab in Therapeutic Dermatology.

For Nemolizumab specifically, this includes the completion of enrollment in the Phase II Chronic Pruritus of Unknown Origin (CPUO) trial and ongoing enrollment in the Phase II Systemic Sclerosis (SSc) trial, with a new SSc publication in the Journal of Scleroderma and Related Disorders. It also includes the ongoing submission preparation of Nemolizumb in children aged 2 to 11 with moderate-to-severe atopic dermatitis in the US, following clinically meaningful late-breaking data presented in the first quarter.

Outlook

Galderma is raising 2026 full-year net sales guidance to 19-21% growth at constant currency (previously 17-20%) based on a strong trajectory.