Galderma Delivers Strong FY 2022 Growth

Galderma delivered at the top end of its 2022 revenue guidance with 13.9% year-on-year net sales growth on a constant currency basis at $3.7 billion, the company reported. 

 

It also delivered above its 2022 profitability guidance with 14.5% Core Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) year-on-year growth on a constant currency basis at $791 million.

 

The company sustained growth momentum fueled by continued strong performance in Injectable Aesthetics and Dermatological Skincare with year-on-year net sales growth of 22.3% and 30.7% respectively, on a constant currency basis, primarily driven by volume growth.

 

Topline growth and margin expansion demonstrated continued strong operating and commercial performance despite a challenging external environment. Significant progress in advancing the R&D pipeline with notable milestones for differentiated biologic entries are expected to fuel significant long-term sustainable growth. 

 

In 2023, Galderma expects to deliver 6-9% net sales growth on a constant currency basis, and 200-300 bps Core EBITDA margin expansion versus 2022. The 2023 Core EBITDA margin expansion guidance includes significant nemolizumab costs. 

 

“This has been a year of strong performance for Galderma. We have delivered against our full-year guidance and continued our upward growth trajectory against a backdrop of turbulent macro-economic conditions,” said CEO Flemming Ørnskov. “We are delivering on our ambition of category leadership in dermatology, through our focus on commercial execution, portfolio and geographic expansion, our innovation pipeline and new product launches. I am pleased with our positive pipeline developments including RelabotulinumtoxinA, our novel liquid formulation botulinum toxin A, and nemolizumab, for the treatment of prurigo nodularis and atopic dermatitis. We look forward to continuing to deliver leading products to address the unmet needs of customers across the globe.”