Galderma’s CEO Flemming Ørnskov reiterated expectations for sustained high growth, citing expansion into new markets and product innovation as primary catalysts. The Swiss-based dermatology and cosmetic company, whose shares are set to enter the Swiss SMI index next week, has already demonstrated rapid progress—achieving SMI inclusion just two and a half years after its initial public offering (IPO). Ørnskov emphasized that while this milestone is significant, the company must remain vigilant to avoid slipping out of the index. 'We’ve built a strong foundation, but our journey is far from over,' he stated, underscoring a commitment to ongoing development beyond immediate achievements.
Growth drivers include strategic market expansions, particularly in China and India, where Galderma operates as a Nestlé subsidiary but was previously absent. Ørnskov also highlighted strong performance in established product categories, such as Nemluvio—a topical treatment for skin conditions—and Sculptra, a biostimulator used in aesthetic procedures. These products have contributed significantly to revenue growth, reflecting the company’s focus on differentiated offerings.
In a separate development, Ørnskov expressed cautious optimism regarding the FDA’s review of Relfydess, a wrinkle-treatment product. While the agency’s July request for revisions prompted temporary uncertainty, the CEO anticipates a resolution in the coming months, with a detailed presentation scheduled for the FDA. He framed the process as methodical, with a manageable list of outstanding requirements.
Acquisition strategy remains selective, prioritizing incremental rather than transformative expansions. Ørnskov dismissed the pursuit of massive mergers, instead targeting niche areas such as aesthetics and consumer goods. Capital allocation will include dividends, share buybacks, and investments, though he ruled out large-scale transformative deals. 'Our platform is already robust,' he said, signaling a preference for strategic, incremental growth.
A key collaboration involves L’Oréal, which holds around 20% of Galderma’s shares. Ørnskov described the partnership as mutually beneficial, with ongoing research into collagen stimulation—a clinical project in New York advancing well. The CEO, now 68, dismissed retirement as a near-term consideration, citing passion for the company’s continued development over financial gain. 'We’ve achieved much, but our work is far from complete,' he reiterated, underscoring a long-term commitment to innovation and expansion.
