Galderma

What Galderma does

Galderma is a pure-play dermatology company headquartered in Zug, Switzerland, operating across three business segments: Injectable Aesthetics, Dermatological Skincare, and Therapeutic Dermatology. The Injectable Aesthetics segment includes neuromodulators (Dysport, Azzalure, Alluzience, and the newer ready-to-use liquid Relfydess/relabotulinumtoxinA), hyaluronic acid dermal fillers (the Restylane portfolio with 77+ million treatments performed over 30 years), and the poly-L-lactic acid biostimulator Sculptra. The Dermatological Skincare segment is anchored by Cetaphil (75+ year heritage in sensitive skin) and ALASTIN Skincare, which leverages proprietary TriHex Technology® — enhanced to TriHex+™ with Octapeptide-45 — for peri-procedural regenerative skincare. The Therapeutic Dermatology segment spans prescription treatments for acne (Differin/adapalene, Epiduo, Aklief/trifarotene), rosacea (Soolantra, Mirvaso, Oracea), atopic dermatitis and prurigo nodularis (Nemluvio/nemolizumab, a biologic IL-31 receptor antagonist), onychomycosis (Loceryl), hyperpigmentation (TRI-LUMA), and photodynamic therapy (Metvix).

Galderma monetizes through a hybrid go-to-market model: prescription and aesthetic injectable products are sold directly to dermatologists, plastic surgeons, and aesthetic practitioners via a global field sales force and authorized distributors across approximately 90 countries; consumer skincare products (Cetaphil, Alastin, OTC Differin) are distributed through retail channels including Walmart, Ulta, Target, and Amazon as well as pharmacies. Q1 2026 net sales reached $1.473 billion (+25.5% YoY at constant currency), with Therapeutic Dermatology up 71.3% on the Nemluvio launch, Dermatological Skincare up 17.0%, and Injectable Aesthetics up 13.1%; full-year 2025 revenue was approximately $5.2 billion. Manufacturing is anchored in Canada (Baie-D'Urfé), Sweden (Uppsala), France (Alby-sur-Chéran), and Brazil (Hortolândia), and the company is supported by proprietary formulation technologies (TriHex, TriHex+, Gallic-AOX Power™, Simulgel™ gel base) and the FACE by Galderma™ augmented reality visualization application developed with Crisalix.

The company is publicly traded on the SIX Swiss Exchange under ticker GALD following its March 2024 IPO. As of March 2026, EQT and its co-investors fully exited via the largest sponsor-backed block trade in history (CHF 4.9 billion), leaving L'Oréal as a ~20% strategic shareholder and ~80% free float. Management is led by CEO Flemming Ornskov, and the company employs 7,000+ people globally with 50 offices across 40 countries. Strategic positioning targets the GLP-1 medication-driven weight loss patient segment via new Restylane Contour temple hollowing indications and the medication-driven weight loss awareness initiative.

Name

Galderma

Legal name

Galderma S.A.

Website

https://galderma.com

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Galderma is a global pure-play dermatology company selling injectable aesthetics (Restylane, Sculptra, Dysport), therapeutic dermatology drugs (Nemluvio, Differin, Soolantra), and consumer skincare (Cetaphil, ALASTIN) to healthcare professionals and consumers across 90+ countries.

Ownership category

akta.pro rank

Product category

Dermatology Pharmaceuticals and Skincare

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Drugs and Druggists' Sundries Merchant Wholesalers (42421)

SIC

Perfumes, Cosmetics & Other Toilet Preparations (2844), Biological Products, (No Disgnostic Substances) (2836), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Dermatology Specialty Pharmaceuticals (HLAIACAL)

akta.pro secondary industries

Dermocosmetics & Medical-Grade Skincare (CRABAAAF), Procedural Dermatology (Office-Based Surgery) (HLAKACAG), Dermatology & Topical Skin Treatments (HLAIADAE), Dermatology OTC & Skin Health (Acne Treatments, Eczema/Psoriasis OTC, Antifungals, Wart Removal) (CRADAMAF), Pigmentary Disorders (Vitiligo/Melasma) (HLAKACAM)

Keywords

• Dermatology pharmaceuticals
• Injectable aesthetics
• Prescription dermatology
• Sensitive skincare
• Biologic dermatology

Headquarters

HQ city

Lausanne

HQ country

Switzerland

HQ region

Europe

Offices33 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Injectable Aesthetics: Revenue from neuromodulators (Dysport, Relfydess, Azzalure, Alluzience), hyaluronic acid fillers (Restylane portfolio), and biostimulators (Sculptra). Q1 2026 segment revenue was $648 million with 13.1% growth.
2. Dermatological Skincare: Revenue from consumer skincare brands including Cetaphil and Alastin. Q1 2026 segment grew 17.0%. Products include cleansers, moisturizers, antioxidant serums, and peri-procedural skincare.
3. Therapeutic Dermatology: Revenue from prescription drugs targeting acne (Differin, Aklief, Epiduo), rosacea (Soolantra, Mirvaso), atopic dermatitis (Nemluvio), prurigo nodularis, psoriasis, and onychomycosis. Q1 2026 segment grew 71.3% to $385 million driven by Nemluvio launch.

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Galderma is a pure-play dermatology company that develops, manufactures, and sells prescription therapeutics (e.g., Nemluvio, Differin, Epiduo, Soolantra), injectable aesthetics (Restylane hyaluronic acid fillers, Sculptra biostimulator, Dysport/Relfydess botulinum toxins), and consumer skincare (Cetaphil, ALASTIN) across the full spectrum of dermatology, operating in approximately 90 countries.

Product overview

Galderma is a pure-play dermatology company operating across three business segments: Injectable Aesthetics, Dermatological Skincare, and Therapeutic Dermatology. Its Injectable Aesthetics portfolio is anchored by Restylane (hyaluronic acid fillers), Sculptra (poly-L-lactic acid biostimulator), Dysport and Relfydess (botulinum toxin injectables), Azzalure, and Alluzience. The Dermatological Skincare segment is led by Cetaphil (sensitive skin care) and ALASTIN Skincare (regenerative peri-procedural skincare featuring TriHex Technology®). The Therapeutic Dermatology portfolio spans prescription treatments for acne (AKLIEF/trifarotene, Differin/adapalene, Epiduo), rosacea (Soolantra/ivermectin, Mirvaso/brimonidine), prurigo nodularis and atopic dermatitis (Nemluvio/nemolizumab), fungal infections (Loceryl/amorolfine), hyperpigmentation (TRI-LUMA), and photodynamic therapy (Metvix). Galderma also offers technology tools including FACE by Galderma™ (augmented reality visualization) and the Skin Quality Assessment Scale (standardized clinical assessment tool). The company is present in approximately 90 countries and operates manufacturing facilities in Canada, Sweden, France, and Brazil.

Differentiator

Problem solved

Functional benefit

Brands

• Restylane: Hyaluronic acid-based dermal fillers for facial augmentation and skin rejuvenation
• Sculptra
• Dysport
• Relfydess
• Cetaphil
• Alastin
• Nemluvio
• Differin
• Epiduo
• Azzalure
• Alluzience
• Soolantra
• Mirvaso
• Aklief
• Loceryl
• Metvix
• Actinica
• Tri-Luma
• Oracea
• Benzac
• FACE by Galderma
• Restylane Skinboosters
• Cetaphil Baby

Products and services

• Restylane The most extensive hyaluronic acid filler portfolio on the market, used for smoothing wrinkles, lip augmentation, cheek volume, under-eye treatment, and facial contouring; for healthcare professionals and their patients.
• Sculptra Poly-L-lactic acid biostimulator that stimulates natural collagen production to restore facial volume and improve skin firmness over time; indicated for facial augmentation and body rejuvenation.
• Dysport Botulinum toxin type A formulation commercialized through Galderma's aesthetics portfolio, used for glabellar lines and other aesthetic indications.
• Relfydess (relabotulinumtoxinA) Ready-to-use liquid botulinum toxin product intended to rival AbbVie's Botox, offering potentially differentiated profile versus existing neuromodulators with onset within one day and sustained results for six months.
• Azzalure Botulinum toxin type A product commercialized by Galderma for aesthetic indications in European markets.
• Alluzience Botulinum toxin type A product commercialized by Galderma for aesthetic indications in international markets.
• Cetaphil Dermatologist-recommended sensitive skin care brand offering cleansers, moisturizers, sunscreen, and antioxidant serums for consumers with sensitive skin.
• ALASTIN Skincare Professional regenerative skincare brand featuring TriHex Technology® for peri-procedural use and daily skincare routines; acquired by Galderma in 2021.
• Actinica Medical-grade sun protection product designed for sensitive and at-risk skin; provides UV protection with dermatological formulation.
• Nemluvio (nemolizumab) Biologic drug targeting IL-31 receptor for atopic dermatitis and prurigo nodularis; Galderma's key therapeutic growth driver.
• AKLIEF (trifarotene) Third-generation retinoid cream for the treatment of acne vulgaris.
• Differin (adapalene) Third-generation retinoid for acne treatment; available in both prescription and OTC formulations.
• Epiduo (adapalene + benzoyl peroxide) Combination acne treatment combining adapalene with benzoyl peroxide; prescription-only in most markets but switched to OTC in U.S. in May 2026.
• Soolantra (ivermectin) Prescription topical treatment for the inflammatory lesions of rosacea in adults.
• Mirvaso (brimonidine) Prescription topical gel for the treatment of facial erythema associated with rosacea.
• Loceryl (amorolfine) Antifungal nail lacquer for the treatment of onychomycosis (fungal nail infections); available OTC in multiple markets.
• Benzac OTC benzoyl peroxide product for the treatment of mild to moderate acne; available as gel and wash formulations.
• Metvix Prescription product for the treatment of actinic keratosis and certain skin cancers using photodynamic therapy.
• TRI-LUMA Prescription treatment for melasma and hyperpigmentation disorders, formulated with a combination of active ingredients.
• Oracea Prescription oral capsule formulation for the treatment of inflammatory lesions (papules and pustules) of rosacea.
• FACE by Galderma Augmented reality application developed in partnership with Crisalix that enables aesthetic practitioners and patients to visualize treatment results before procedures, featuring 19 potential injectable outcomes.
• Restylane Skinboosters Hyaluronic acid skinboosters for deep hydration and skin quality improvement.
• Cetaphil AM/PM Antioxidant Serums Skincare system designed specifically for sensitive skin, utilizing proprietary Gallic-AOX Power™ Technology to provide antioxidant protection and accelerated repair.
• Alastin Regenerating Skin Nectar with TriHex+ Peri-procedural skincare product from ALASTIN featuring Octapeptide-45 formulation built on enhanced TriHex Technology® regenerative platform, designed for skin preparation, response, and recovery for aesthetic and surgical procedures.
• Restylane Contour (Temple Hollowing Indication) Restylane Contour with new FDA-approved indication for correction of temple hollowing in patients over the age of 21, expanding its use beyond cheek augmentation and midface contour deficiencies.

Quantifiable outcome

• Nine out of ten people affected by skin quality concerns with 85% reporting impact on quality of life (global survey of 11,000+ people)
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature6 records

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• AbbVie (Allergan Aesthetics): AbbVie owns the Botox franchise, Dysport's primary competitor, and the CoolSculpting/Juvéderm aesthetics portfolio. Directly competes with Galderma across neuromodulators (Dysport/Azzalure/Alluzience vs Botox), HA fillers (Restylane vs Juvéderm), and biostimulators, making it Galderma's most direct global rival in injectable aesthetics.
• Merz Aesthetics: Merz competes directly with Galderma's injectable aesthetics portfolio through Belotero Balance (HA filler), Radiesse (CaHA biostimulator), and Xeomin (botulinum toxin). It is a focused aesthetics pure-play with a similar product category footprint across HA fillers, biostimulators, and neuromodulators.
• Evolus: Evolus markets Jeuveau (prabotulinumtoxinA), a neuromodulator competing head-to-head with Galderma's Dysport and (eventually) Relfydess. A pure-play aesthetics company focused on the $1B+ U.S. botulinum toxin category with similar medical/HCP GTM motion.
• Revance Therapeutics: Revance markets Daxxify (daxibotulinumtoxinA), a peptide-formulated long-lasting neuromodulator, and the RHA Collection of HA fillers. Direct competitor in injectable aesthetics with differentiated technology platforms targeting the same dermatologists and plastic surgeons that Galderma serves.

Broad incumbents

• L'Oréal (Active Cosmetics Division): L'Oréal owns La Roche-Posay, CeraVe, and Vichy in dermocosmetics, directly competing with Galderma's Cetaphil and Alastin skincare lines. Also holds a ~20% strategic stake in Galderma, creating a partner-competitor dynamic across the dermatological skincare category globally.
• Beiersdorf: Beiersdorf markets Eucerin, a leading medical skincare brand with overlapping sensitive skin and dermatology positioning to Cetaphil. A broad incumbent personal care company with deep retail pharmacy distribution that competes for the same dermatologist recommendations.
• Bausch Health (Ortho Dermatologics): Bausch Health's Ortho Dermatologics division markets prescription acne (Onexton, Arazlo), rosacea (Rhofade), and other therapeutic dermatology brands that overlap Galderma's Differin, Epiduo, Soolantra, and Mirvaso portfolio. Broad incumbent competing across Galderma's Therapeutic Dermatology segment in the U.S.
• Sanofi (Consumer Healthcare): Sanofi's consumer healthcare business competes in dermatology-adjacent OTC and prescription skincare (e.g., CeraVe before L'Oréal acquisition history, plus Dupixent immunology franchise that competes indirectly with nemolizumab). A broad incumbent with cross-category presence relevant to both Galderma's consumer skincare and therapeutic dermatology businesses.

Emerging players

• Prollenium Medical Technologies: Prollenium markets the Revanesse Versa line of HA dermal fillers and was specifically named in Galderma's 2026 noncompete litigation as a beneficiary of departing executive knowledge. An emerging player with HA filler technology that competes directly with Restylane's $1.8B franchise at typically lower price points.
• Hugel America: Hugel is a Korean aesthetics/biologics company marketing botulinum toxin (Letybo) and HA fillers in the U.S. and global markets. Emerging player with regulatory approvals that overlap Galderma's Dysport and Restylane categories, particularly relevant as Galderma awaits Relfydess U.S. approval.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/galderma
• LinkedInlinkedin.com/company/galderma
• Instagraminstagram.com/galderma
• Facebookfacebook.com/Galderma

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries10 records

Funding overview

Funding rounds7 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Galderma