04.24.24
Galderma Group AG reported net sales of $1.071 billion in the first quarter of 2024.
Net sales growth for Q1 2024 was 12.4% year-on-year on a constant currency basis, primarily driven by volume.
The Happi International Top 30 Company also reported broad-based growth across all product categories, with constant currency year-on-year growth of 8.4% for dermatological skincare and 4.1% for therapeutic dermatology.
“We started the year strong, continuing on Galderma’s growth trajectory and celebrating our first days of trading on the SIX Swiss Exchange,” said CEO Dr. Flemming Ørnskov. “This is a testament to our proven integrated dermatology strategy and the focus of our employees globally, each committed to serving our healthcare professionals, consumers and patients worldwide. With attractive growth across our product categories and geographies, we are confident in our financial outlook for the year.”
Dermatological Skincare
Dermatological skincare net sales for Q1 2024 were $351 million, with year-on-year growth of 8.4% on a constant currency basis.
The growth overall was mainly driven by volume and favorable product mix, the company said. Cetaphil in international markets and Alastin both grew double-digits more than offsetting market softness in the US skincare market and lower US consumption of Cetaphil.
Therapeutic Dermatology
Therapeutic dermatology net sales for Q1 2024 were $209 million, with year-on-year growth of 4.1% on a constant currency basis.
The growth was mainly driven by volume in international markets offsetting anticipated lower US volumes, partially driven by phasing impact, as well as ongoing genericization.
With a strong start to the year, Galderma said it confirms its full-year guidance for 2024 of 7-10% net sales year-on-year growth at constant currency and a Core EBITDA margin in line with 2023 at constant currency.