ZURICH, Oct 22 (Reuters) – Swiss skincare company Galderma raised its full-year sales guidance on Thursday for the second time in two quarters after strong demand for its therapeutic dermatology products drove robust growth in the first nine months of the year.
The company reported net sales of $4.77 billion for January to September, up 25.1% from a year earlier. Third-quarter sales growth was 26%.
Galderma raised its full-year net sales growth forecast to between 22.5% and 23.5% from 19% to 21%.
Its shares rose as much as 5.8% in morning trade. The stock has more than tripled in value since the company listed on the Swiss stock exchange in March 2024.
Injectable aesthetics sales rose 13.2% in the first nine months, while dermatological skincare sales increased 16.2%. Therapeutic dermatology sales jumped 64.4%, helped in part by strong demand for its Nemluvio product.
CEO Flemming Ornskov said the company was assessing the impact of so-called Section 232 tariffs that took effect in the US in September, including on Nemluvio.
With companies facing higher costs from disruptions linked to the US-Iran conflict, pricing is under close scrutiny across the industry.
Ornskov noted that competitors in markets such as China and India operated from a lower cost base.
“But given that we are segmented more to premium, we’re holding up really well,” he said.
(Writing by Dave Graham. Editing by Linda Pasquini and Mark Potter)
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