Galderma Lifts Full-Year Guidance as H1 2026 Sales Surge 24.6% to $3.13 Billion
核心洞察
Galderma reported first-half 2026 sales of $3.13 billion, a 24.6% increase driven by double-digit growth across international markets and the United States.
The Swiss skincare firm raised its full-year net sales growth guidance to 19–21%, up from the prior 17–20% range, despite flagging a potentially challenging second half.
CEO Flemming Ornskov noted manageable U.S. tariff exposure and ongoing market share gains, while acknowledging a slight softening of consumer sentiment in some markets.
Swiss skincare company Galderma reported a 24.6% jump in first-half 2026 sales, reaching $3.13 billion, and raised its full-year guidance as robust performance across all product categories and geographies offset emerging macroeconomic headwinds.
The Zug-based firm, set to join Switzerland's SMI blue-chip index in September, now expects net sales to expand 19–21% for the full year, up from its previous forecast of 17–20%. The upward revision came even as management flagged a potentially challenging second-half environment shaped by volatile political and economic conditions.
Broad-Based Growth Across Markets
First-half results were propelled by double-digit growth in both international markets and the United States, with all product categories registering robust expansion. Galderma's shares initially jumped more than 3% following the announcement before retreating amid broader pressure on European equities.
CEO Flemming Ornskov attributed the strong performance in part to continued market share gains, which helped counterbalance a slight softening of consumer sentiment observed in some markets.
Navigating Tariffs and Cost Pressures
Galderma stated that its full-year guidance factors in manageable exposure to announced U.S. tariffs and the company's ability to absorb potential deterioration in consumer demand during the second half. Ornskov acknowledged that some freight-related and other costs had risen but emphasized these had not materially impacted the company's outlook.
The CEO highlighted Galderma's fairly diverse and localized manufacturing base as a strategic advantage, noting that more production is moving to the United States. "And in Asia, we're looking to expand and even thinking about manufacturing there," Ornskov added. The company also received reimbursements on U.S. tariffs worth millions of dollars, providing a modest boost to profits.
Middle East Positioned as Growth Opportunity
Addressing ongoing tensions in the Middle East, Ornskov described the region as a growth opportunity for Galderma, though it currently represents 3% or less of the company's business. "The moment that clears up, we will double down on investments there," he told Reuters.
Regulatory Setback for Relfydess (搜索)
On the pipeline front, Galderma is still awaiting U.S. approval for Relfydess (搜索), a rival treatment to Botox. The company disclosed earlier this month that it had received a complete response letter from the U.S. Food and Drug Administration, with observations that need to be addressed before approval can proceed.
Ornskov acknowledged the setback, stating that Galderma had learned from the experience but still had a "little bit of work to do" on resolving the FDA's concerns. No timeline was provided for resubmission or potential approval.