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Earnings Score 48 Bullish

Galderma Shares Climb as Q1 Sales Surge and 2026 Outlook Confirmed

Apr 23, 2026 08:48 UTC
GDERF, GALD.SW
Short term

Swiss skincare leader Galderma reported a 30.5% jump in first-quarter net sales, driven by robust growth across all business segments. The company reaffirmed its full-year 2026 guidance, sparking a nearly 6% rise in its share price.

  • Net sales increased to $1.47 billion, up 30.5% year-over-year
  • Therapeutic Dermatology sales grew 71.3% (constant currency)
  • Nemluvio revenue jumped from $39 million to $185 million
  • FY26 sales growth guidance maintained at 17% to 20%
  • Core EBITDA margin target confirmed at approximately 26%
  • Shares rose 5.84% to 159.55 francs following the announcement

Galderma Group AG has delivered a strong start to the year, posting first-quarter net sales of $1.47 billion, a significant increase from the $1.13 billion reported in the same period last year. On a constant currency basis, sales grew by 25.5%, reflecting strong volume growth and favorable pricing and mix. The results were bolstered by a broad-based performance across the company's portfolio. The Therapeutic Dermatology segment saw the most explosive growth, with constant currency sales climbing 71.3%, largely fueled by the rapid market adoption of Nemluvio, which generated $185 million in revenue compared to $39 million a year prior. Other segments also outperformed market expectations. Injectable Aesthetics grew 13.1% in constant currency, with neuromodulators and fillers contributing $364 million and $284 million respectively. Dermatological Skincare followed with a 17.0% constant currency increase, reaching $441 million in reported net sales. Management confirmed its full-year 2026 targets, projecting net sales growth between 17% and 20% and a Core EBITDA margin of approximately 26% at constant currency. Investors reacted positively to the beat-and-confirm report, pushing shares on the Swiss Stock Exchange up 5.84% to 159.55 francs. Additionally, the company will pay a dividend of 0.35 franc per share on April 28.

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