Galderma Announces Record 2023 Net Sales of Over 4 B USD and Significant Core EBITDA Margin Expansion

ZUG, Switzerland--(BUSINESS WIRE)--Galderma:

Delivered against full year guidance for another consecutive year with strong financial performance

• Galderma achieved net sales of 4.082 B USD, up 8.5% year-on-year on a constant currency basis1 in FY 2023, at the higher end of its 6-9% net sales growth 2023 FY guidance, and surpassed 4 B USD in net sales for the first time
  • Positive momentum across all product categories outperforming fast growing market segments, with year-on-year net sales growth on a constant currency basis of 6.5% in Injectable Aesthetics, 12.1% in Dermatological Skincare, and 8.7% in Therapeutic Dermatology
• Core EBITDA for 2023 was 942 M USD, representing a 23.1% Core EBITDA margin, with 21.4% year-on-year growth on a constant currency basis. Core EBITDA margin expansion was significant, up 281 basis points versus prior year on a constant currency basis in line with its 2023 FY guidance range

Continued commercial execution and pipeline advancements

• In Injectable Aesthetics, Galderma continued to outpace the market with global share gains in neuromodulators, fillers and biostimulators. The Company also announced positive results from two phase IIIb trials investigating RelabotulinumtoxinA (QM-1114), for the treatment of glabellar lines (“frown lines”) and lateral canthal lines (“crow’s feet”)
• Dermatological Skincare flagship brands, Cetaphil and Alastin, drove substantial growth ahead of the market, with continued geographic and portfolio expansion including the launch of Cetaphil Healthy Renew, Alastin ReSURFACE Skin Polish and the C-RADICAL Defense Antioxidant Serum
• In Therapeutic Dermatology, Galderma made progress to expand its leading portfolio and planned entry into the fast-growing biologics sub-segment. The Company showcased positive data from four phase III trials investigating the treatment of atopic dermatitis and prurigo nodularis with nemolizumab, meeting all primary and secondary endpoints across trials. On February 14, 2024, Galderma announced regulatory filing acceptances for nemolizumab in prurigo nodularis and atopic dermatitis in the U.S. and EU.

2024 guidance

• In 2024, Galderma expects to deliver 7-10% net sales growth on a constant currency basis and a Core EBITDA margin in line with 2023 at constant currency, despite significantly increased investments in nemolizumab