Net Sales Soar to $2 Billion for Galderma in H1 2023

Net sales for Galderma soared to $2 billion for the six-month period in the first half of 2023 (H1), up 6.9% year-on-year on a constant currency basis.

 

Growth is primarily driven by dermatological skincare and therapeutic dermatology. Injectable aesthetics’ growth is attributed to double-digit performance in both neuromodulators and biostimulators, despite softening in the filler market and a high comparative base for the product category in 2022 following a post-COVID rebound. 

 

“Galderma sustained its growth momentum in the first half of 2023 driven by a laser focus on commercial execution and by premium positioning in attractive, high-growth markets,” said CEO Flemming Ørnskov. “Galderma continues to demonstrate its commitment to bringing science-based, premium products to consumers, patients, and healthcare professionals, with new FDA approvals and new product launches in the first half of 2023. We also shared further positive data that underscores the strength of our differentiated innovation pipeline. I am delighted to see our unique, integrated dermatology strategy go from strength to strength, as we continue to deliver on our ambition to become the leader in dermatology.”

 

The company delivered significant core EBITDA margin expansion in H1 2023, with a Core EBITDA of $450 million and margin of 22.5% compared to 21.0% for fiscal year 2022. 

 

The company says it’s on track to deliver on 2023 full-year revenue and profitability guidance of 6-9% constant currency net sales growth and 200-300 basis points core EBITDA margin expansion versus 2022. 
 

Injectable aesthetics delivered single-digit constant currency growth over the period, from a high comparative base in 2022, according to the company. 

 

Dermatological skincare continued its growth trajectory, highlighted by the double-digit growth of Cetaphil in the international region and the growth of Alastin Skincare, including the recent expansion into Mexico.
 

Therapeutic dermatology returned to growth following the 2022 loss of exclusivity events in the US. Growth was driven by successful yield improvement measures in the US for key brands such as Oracea, Aklief and Soolantra, as well as continued robust performance in international, according to the company.