Galderma Group AG recorded net sales of $3.2 billion in the first nine months of 2024, a 9.2% year-on-year increase in constant currency, predominantly driven by volume growth complemented by favorable mix.

The company also reported it achieved the highest third quarter net sales in its history, achieving constant currency year-on-year growth of 10.6% for dermatological skincare, and 2.9% for therapeutic dermatology for the first nine months of 2024.

“By executing on our unique integrated dermatology strategy, Galderma continues its strong growth trajectory, driven by momentum behind our science-based premium brands,” said CEO Flemming Ørnskov. “The exciting progress with our late-stage pipeline with key regulatory approvals and differentiated innovations positions Galderma for continued strong growth. Combined with our high-performing commercial execution and increasing penetration in existing and new key markets, this sets the stage for further growth acceleration and value creation.”

Dermatological Skincare

Dermatological skincare net sales for the first nine months of the year were $990 million, growing by 10.6% year-on-year at a constant currency basis.

Growth was driven by its two flagship brands, Cetaphil and Alastin. Cetaphil growth was particularly strong in international markets more than offsetting lower consumer consumption in the US, while Alastin continued its strong US growth across channels.

Therapeutic Dermatology

Therapeutic dermatology net sales for the first nine months of the year were $571 million, with year-on-year growth of 2.9% on a constant currency basis.

Growth was mainly driven by continued momentum in international markets, which offset the anticipated decline in the US, impacted by ongoing genericization. In addition, Galderma recorded its first sales for Nemluvio (nemolizumab), which was made available in August after the US Food and Drug Administration (FDA) approval with priority review for adults with prurigo nodularis. This represents an important milestone, which sets Galderma up for strong growth in therapeutic dermatology and in the US.

Full Year Guidance

In light of the strong performance achieved in the first nine months of the year and expected for the last quarter of the year, Galderma is confirming and narrowing its net sales full year guidance to a net sales growth of 8.8-9.5% year-on-year at constant currency, which was previously raised towards the upper end of the 7-10% growth range at constant currency.