Galderma Group (SIX:GALD), the category leader in pure-play dermatology, has announced impressive sales results for the first nine months of 2024, as well as the highest third quarter net sales in its history.

The net sales of $3.259 billion USD, which represent year-on-year net sales growth of 9.2 percent at constant currency, were primarily driven by volume growth. The growth was widespread across categories and regions, with particularly notable double-digit increases noted in Injectable Aesthetics and Dermatological Skincare sectors.

“By executing on our unique Integrated Dermatology Strategy, Galderma continues its strong growth trajectory, driven by momentum behind our science-based premium brands,” stated Flemming Ørnskov, M.D., MPH, CEO of Galderma. “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.”

Injectable Aesthetics

During the first nine months of 2024, Injectable Aesthetics generated net sales of $1.698 billion USD, reflecting a 10.6 percent increase year-over-year in constant currency. Both categories within Injectable Aesthetics reported double-digit growth, with Neuromodulators achieving net sales of $926 million USD (up 10.4 percent year-on-year at constant currency) and Fillers and Biostimulators reaching $772 million USD (up 10.9 percent year-on-year at constant currency).

Strong sales performance was noted in both international markets and the U.S., with international markets continuing their double-digit growth trajectory. Neuromodulators in particular saw robust demand in Europe and Latin America, while Fillers faced some market softness despite gains in Asia Pacific. Biostimulators experienced strong growth driven by the successful launch of Sculptra® in Thailand and demand across key markets, especially in the Middle East.

RELATED: Demand for Sculptra in New Zealand is surging – here’s why.

In a significant development, Galderma received a positive outcome from its European decentralised procedure for Relfydess™ (RelabotulinumtoxinA, formerly QM1114), which is indicated for the temporary improvement of moderate-to-severe glabellar lines (frown lines) and lateral canthal lines (crow’s feet) in adults under 65. Following this approval, national approvals in the 16 designated countries are being finalised, with five European markets and Australia already granting approval.

Dermatological Skincare

Dermatological Skincare net sales for the first nine months of the year were $990 million USD, growing by 10.6 percent year-on-year on a constant currency basis. The growth was fueled by the strong performance of flagship brands Cetaphil® and Alastin®. Cetaphil, in particular, saw notable growth in international markets.

Therapeutic Dermatology

Therapeutic Dermatology net sales reached $571 million USD for the first nine months, reflecting a 2.9 percent year-over-year rise in constant currency. This growth was largely driven by strong performance in international markets mitigating the anticipated decline in the U.S. market due to ongoing generic competition. Notably, Galderma successfully launched Nemluvio® (nemolizumab) in August after receiving FDA priority approval for adults with prurigo nodularis. This launch marks a pivotal moment for future growth in Therapeutic Dermatology, with marketing applications for Nemluvio in both prurigo nodularis and atopic dermatitis currently under review by several regulatory authorities, including the European Medicines Agency and Health Canada, as well as in Australia, Singapore, Switzerland, and the United Kingdom, via the Access Consortium framework.

Breakthrough Science

Galderma affirmed its leadership in dermatology through a strong presence at major industry events, showcasing its innovative, science-driven product portfolio. At the 33rd European Academy of Dermatology and Venereology (EADV) Congress, Galderma presented 30 abstracts covering data on prurigo nodularis, atopic dermatitis, sensitive skin, and acne. Significant findings were released from the ARCADIA and OLYMPIA clinical trials focusing on nemolizumab’s long-term efficacy and safety. These new findings build on previously published results from the robust phase III ARCADIA and OLYMPIA clinical trial programs and demonstrate nemolizumab’s long-term efficacy and safety in atopic dermatitis and durability in prurigo nodularis. Full results highlighted significant improvements in skin lesions and itch relief for patients with moderate-to-severe atopic dermatitis.

In August 2024, Galderma announced a memorandum of understanding with L’Oréal to explore a new research and development partnership focused on pioneering technologies in dermatology. This collaboration is complemented by L’Oréal’s acquisition of a 10 percent stake in Galderma, following an agreement with Sunshine SwissCo AG, a consortium led by EQT, Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte. Ltd.

Images: Galderma