Net Sales Soar North of $3 Billion For Galderma In the First Nine Months of 2023

HAPPI Top 30 Company Galderma achieved net sales of over $3 billion over the first nine months of 2023, up 8.9% year-on-year on a constant currency basis, the company reported.

 

Company officials say it is on track to deliver at the upper end of its 2023 net sales guidance of 6-9% constant currency growth, and is in line with its profitability guidance of 200-300 bps core EBITDA margin expansion versus 2022.

 

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

In dermatological skincare, Galderma experienced double-digit net sales growth year-on-year over the first nine months of 2023 on a constant currency basis. Growth, which was ahead of the market, was driven by its two flagship brands Cetaphil and Alastin Skincare.

 

Cetaphil, with a heritage of over 75 years of sensitive skincare leadership, continues to maintain good growth momentum and outpace the market. With especially strong performance in Asia and Latin America, Cetaphil growth was driven by successful e-commerce execution, distribution expansion, and innovation. Innovation in Cetaphil this year has included new product ranges, such as recently launched Healthy Renew, and new solutions, including Cetaphil’s digital AI skin analysis tool.

 

Beyond the broad R&D investments behind Cetaphil, with over 875 clinical studies involving more than 37,000 subjects, Galderma enhanced its engagement on sensitive skin with healthcare professionals and consumers with the launch of Galderma’s Sensitive Skincare Faculty. With the objective to raise awareness and develop relevant innovation for sensitive skin, Galderma has organized dedicated medical sessions in 2023, awareness campaigns and, most notably, the most extensive profiling of sensitive skin, covering 10,000 people across five continents.

 

In the first nine months, growth in Alastin remained robust. Performance was strong in the US across all channels, supported by new innovations, such as ReSURFACE Skin Polish and C-Radical Defense Antioxidant serum. As for international expansion, following the successful launch of Alastin Mexico, Galderma announced its launch in the UK in the quarter, as well as direct distribution in Canada, where the product was previously distributed through a partner.

Continued momentum in therapeutic dermatology delivered high single-digit net sales growth year-on-year over the first nine months of 2023 on a constant currency basis, driven by successful yield improvement measures in the US, boosting key brands including Differin, Soolantra and Aklief, and continued growth in international markets.

 

In therapeutic dermatology, Galderma had some important milestones in advancing its pipeline with nemolizumab. At the European Academy of Dermatology and Venerology (EADV), Galderma showcased positive data from three pivotal phase III trials for the treatment of atopic dermatitis (AD) and prurigo nodularis (PN) with nemolizumab. Results from the ARCADIA 1 and 2 trials showed that nemolizumab significantly improved skin lesions and itch in adolescent and adult patients with moderate to severe AD, compared to placebo (both administered with background topical corticosteroid therapy or topical calcineurin inhibitors). Data from the OLYMPIA 1 trial showed that nemolizumab, as a monotherapy, significantly improved itch and skin lesions in adult patients with moderate to severe PN, compared to placebo, bolstering evidence for nemolizumab’s rapid onset of action on itch and reduction of skin lesions in patients with PN. In addition, the latest data from the phase III OLYMPIA 2 trial in patients with PN was published by the New England Journal of Medicine, adding to the publication of nemolizumab’s phase IIB trial results in the same journal in 2020.

 

Beyond nemolizumab, Galderma continued to bring new science and deliver positive data across its Therapeutic Dermatology portfolio. At EADV for example, Galderma presented new data on trifarotene (Aklief) from the phase IV START study showing statistically and clinically significant reduction in the risk of atrophic acne scarring, high patient satisfaction and patient compliance, and data from the phase IV LEAP study in post-inflammatory hyperpigmentation (PIH).

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