Galderma Smashes Records with $5.2 Billion in Sales, Core EBITDA Jumps 18.9% — Galderma Group AG

Event summary

Galderma reported record net sales of $5.207 billion in 2025, up 17.7% at constant currency, surpassing the $5 billion mark for the first time.
Core EBITDA grew to $1.211 billion, an 18.9% increase year-on-year at constant currency, with a margin expansion of 24 basis points.
Nemluvio® (nemolizumab) delivered $452 million in net sales, significantly outperforming expectations and raising peak sales guidance to above $4 billion globally.
The company expects 17-20% net sales growth and a Core EBITDA margin of approximately 26% for 2026.

The big picture

Galderma's record-breaking financial results underscore its leadership position in the dermatology market, driven by strong product performance and strategic investments. The company's ability to outpace market growth across all product categories and geographies highlights its disciplined execution and science-driven innovation. With a robust pipeline and continued focus on expanding into underpenetrated markets, Galderma is well-positioned to sustain its momentum in the competitive dermatology landscape.

What we're watching

Product Innovation: How Galderma's continued investment in its innovation pipeline, particularly in Injectable Aesthetics and Therapeutic Dermatology, will drive future growth.
Market Expansion: Whether the strong performance of Nemluvio® in new international markets can be sustained and replicated with other products.
Financial Strategy: The pace at which Galderma can maintain its aggressive deleveraging trajectory while continuing to invest in growth initiatives.