Explosive Start Signals Momentum (Image Credits: Unsplash)
Zug, Switzerland – Galderma Group AG reported first-quarter net sales of 1.473 billion USD for 2026, marking a robust 25.5 percent year-on-year increase at constant currency.[1][2] The Swiss dermatology specialist attributed the growth primarily to explosive demand in the United States, where sales climbed 41.5 percent. This performance exceeded expectations and underscored the company’s integrated strategy across aesthetics, skincare, and therapeutics amid a challenging global landscape.
Explosive Start Signals Momentum
Galderma achieved net sales of 1,473 million USD in the first quarter, up from 1,129 million USD the previous year. The 25.5 percent growth at constant currency reflected volume-led expansion, bolstered by favorable pricing and product mix. Reported growth reached 30.5 percent, highlighting the firm’s resilience.[1]
Chief Executive Officer Flemming Ørnskov emphasized the results as a testament to innovation and execution. “Galderma’s strong first quarter results reflect our commitment to advancing dermatology and delivering innovative solutions for consumers and patients worldwide,” he stated. The quarter positioned the company for sustained progress throughout the year.[2]
United States Fuels Double-Digit Gains
U.S. net sales hit 610 million USD, surging 41.5 percent at constant currency from the prior year. This outpaced international markets, where sales reached 862 million USD with 16.0 percent growth. Favorable phasing in injectables and strong skincare demand propelled the American market’s performance.[1]
Executives noted that U.S. tariffs on key products like Sculptra and Restylane remained manageable, with guidance already incorporating a 15 percent levy plus impacts on pharmaceuticals. Galderma expressed increased confidence in navigating volatility, thanks to this regional strength. The U.S. contributed significantly across all categories, from aesthetics to new therapeutics launches.[3]
Breakdown of Category Performances
Therapeutic Dermatology led with 385 million USD in sales, posting 71.3 percent growth at constant currency. Nemluvio, the company’s breakthrough treatment, generated 185 million USD, more than doubling from the prior period and drawing primarily from U.S. atopic dermatitis and prurigo nodularis patients. Injectable Aesthetics followed at 648 million USD, up 13.1 percent, while Dermatological Skincare added 441 million USD, rising 17.0 percent.[2]
| Category | Q1 2026 Sales (M USD) | cc Growth (%) |
|---|---|---|
| Injectable Aesthetics | 648 | 13.1 |
| Dermatological Skincare | 441 | 17.0 |
| Therapeutic Dermatology | 385 | 71.3 |
Neuromodulators within aesthetics, including Dysport and the ramping Relfydess, grew 12.5 percent to 364 million USD. Fillers and biostimulators, featuring Restylane and Sculptra, advanced 14.0 percent to 284 million USD, aided by FDA approval for Restylane Contour in temple correction.
Innovations and Strategic Highlights
Flagship brands shone brightly. Cetaphil expanded via e-commerce in China and new antioxidant serums, while Alastin partnered with U.S. aesthetics clinics through Signature Practices. Restylane’s “Wake Up To Restylane” campaign and Sculptra’s body indications in Europe further boosted injectables.[1]
- Nemluvio captured 39 percent new patient share in U.S. prurigo nodularis and 8 percent in atopic dermatitis.
- Relfydess ramped up post-launch with strong Asia-Pacific traction.
- Alastin launched Regenerating Skin Nectar with TriHex technology.
- Sculptra achieved double-digit growth amid the “We Are All Sculptra” initiative.
- Cetaphil gained in international fast-growth markets.
Scientific advancements included phase II data for nemolizumab in pediatric atopic dermatitis and studies on Sculptra’s regenerative effects, presented at major 2026 congresses. Financially, Galderma repurchased 232 million CHF in shares, approved a 0.35 CHF dividend, and refinanced debt with a larger credit facility and Eurobond issuance.
Confirmed Guidance Amid Optimism
Galderma reaffirmed its full-year outlook: 17 to 20 percent net sales growth at constant currency and a core EBITDA margin around 26 percent. The strong quarter de-risked projections, with upcoming launches in Nemluvio, Relfydess, and skincare innovations set to sustain momentum. Investment-grade ratings from S&P and Fitch bolstered the balance sheet.[2]
Details appear in the company’s Q1 announcement.[1]
Key Takeaways
- U.S. sales jumped 41.5 percent, powering overall 25.5 percent growth to 1.473 billion USD.
- Nemluvio sales exceeded 185 million USD, dominating therapeutics category.
- Full-year guidance holds at 17-20 percent growth, with de-risked outlook.
Galderma’s Q1 triumph highlights its leadership in dermatology, blending innovation with market execution. As the company eyes further expansions, investors and consumers alike watch for continued delivery. What do you think about Galderma’s trajectory this year? Tell us in the comments.
