Galderma
Galderma is a Switzerland-based international dermatology company focused on prescription medicines, aesthetic injectables, and therapeutic and consumer skin-health products.
Last updated October 14, 2026
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Overview
Galderma is a Swiss dermatology company headquartered in Zug and operating across prescription medicine, consumer skin care, and medical aesthetics. Its activities address both medical and elective needs, including acne, rosacea, atopic dermatitis, psoriasis, fungal nail infections, pigmentary disorders, skin cancer, skin aging, and injectable aesthetic treatment. The company sells products in more than 100 countries through subsidiaries and distributors. The business grew out of two earlier developments. In 1961, M. Owen founded the Owen dermatology company in Dallas, Texas. In 1979, Hans Schaefer established the International Center for Dermatological Research in Sophia Antipolis, France, with support from L'Oréal chief executive François Dalle. Nestlé had also entered dermatology by acquiring the Owen laboratory. These activities provided the basis for a broader partnership between Nestlé and L'Oréal, which created Galderma as a joint venture in 1981. The research center became part of Galderma's research and development organization. Galderma initially focused on dermatology research, development, and commercialization. It expanded internationally through subsidiaries, manufacturing sites, partnerships, and distributors. The company later entered medical aesthetics, including botulinum-toxin products and injectable treatments. Its acquisition of Swedish medical-device company Q-Med in 2010 strengthened its position in aesthetic and corrective products, particularly through the Restylane portfolio. In 2007, Galderma and Ipsen also entered an agreement concerning distribution of Dysport, marketed as Azzalure in the European Union. Ownership changed substantially in the 2010s. Nestlé acquired L'Oréal's remaining interest in 2014 and reorganized the activity as Nestlé Skin Health. In 2019, Nestlé sold the business to a consortium including EQT, Luxinva, PSP Investments, and other institutional investors. Galderma subsequently operated as an independent dermatology company. It acquired California-based specialized skin-care company Alastin in 2021, adding a physician-oriented skin-care portfolio. The company combines established brands with continuing pharmaceutical and biologic development. Its consumer-care portfolio includes Cetaphil, Benzac, over-the-counter Differin, Loceryl, and Alastin. Prescription and medical brands include Aklief, Epiduo, Epiduo Forte, Twyneo, Epsolay, Soolantra, Mirvaso, Oracea, Metvix, and Nemluvio. Aesthetic brands include Restylane, Sculptra, Dysport, Azzalure, Alluzience, and Relfydess. Galderma's research network includes locations in Switzerland, Sweden, the United States, and Canada, while manufacturing operations have included sites in France, Canada, Sweden, and Brazil. Galderma announced plans to list in Switzerland in March 2023. Its initial public offering took place on 22 March 2024, returning the company to public markets after its period under private institutional ownership. The company remains focused on dermatology and aesthetics, with operations spanning research, regulatory development, manufacturing, clinical treatment, and consumer distribution.
History
Galderma's antecedents include the Owen dermatology company, founded by M. Owen in Dallas in 1961, and the International Center for Dermatological Research, founded by Hans Schaefer in Sophia Antipolis in 1979. The research center was established with support from François Dalle of L'Oréal, which was seeking to extend its scientific activity into dermatological medicines. Nestlé was developing a related interest and acquired the Owen laboratory. Nestlé and L'Oréal combined these interests in 1981 by forming Galderma as a joint venture. The International Center for Dermatological Research became part of Galderma's research and development structure. From its initial base in research and specialist dermatology, Galderma developed products for both prescription treatment and consumer skin care and built a commercial network reaching many countries. During the 2000s, Galderma expanded its commercial and therapeutic scope. In 2007 it entered an agreement with Ipsen relating to the distribution of Dysport, marketed as Azzalure in the European Union. The company also moved further into medical aesthetics. Its 2010 acquisition of Q-Med, a Swedish medical-device company, reinforced its position in aesthetic and corrective products and supported the growth of the Restylane-related business. Nestlé acquired L'Oréal's remaining interest in 2014. The transaction transformed Galderma into a wholly owned Nestlé business and placed it within a new Nestlé Skin Health unit. In 2019, Nestlé sold Galderma to an institutional-investor consortium including EQT, Luxinva, PSP Investments, and other investors. The transaction made Galderma an independent dermatology company under private ownership. The independent company continued to build its portfolio through internal development, licensing, and acquisitions. In November 2021 it acquired Alastin, a California company specializing in professional skin-care products. Galderma also advanced clinical development of aesthetic and prescription treatments, including relabotulinumtoxinA and nemolizumab. Nemolizumab targets signaling associated with interleukin-31, a cytokine involved in prurigo nodularis and related inflammatory skin disease. Galderma announced its intention to list in Switzerland on 6 March 2023. The initial public offering took place on 22 March 2024. The listing marked a new ownership phase while preserving the company's three-part operating model: aesthetics, consumer care, and prescription medicine. Its global infrastructure includes research and development locations in Switzerland, Sweden, the United States, and Canada, together with manufacturing operations in Europe, North America, and South America. Galderma was established in 1981 as a joint venture between Nestlé and L'Oréal. The venture was designed to concentrate on dermatology, an area requiring specialized clinical development, regulatory expertise, and relationships with dermatologists and other healthcare professionals. Its creation gave the partners a dedicated international platform for dermatological research and commercialization rather than treating skin health as only a small part of a broader pharmaceutical or cosmetics portfolio. During its development under Nestlé and L'Oréal ownership, Galderma expanded its presence across prescription dermatology, professional aesthetics, and skin health. Its prescription activities addressed conditions including acne, rosacea, psoriasis, atopic dermatitis, pigment disorders, and other diseases affecting the skin. The company also developed or commercialized products for medical aesthetics, including dermal fillers, botulinum-toxin treatments, and injectable products intended to improve skin quality or stimulate collagen formation. In consumer skin health, Cetaphil became one of the most recognizable names associated with the wider Galderma portfolio. The company’s evolution reflected the increasing overlap between medical dermatology and aesthetic medicine. Prescription dermatology depends on clinical trials, physician adoption, and regulatory approval, while aesthetic products depend on practitioner training, patient demand, product safety, and brand trust. Galderma built a business model around both markets, supported by global sales operations and specialized research and development. Its portfolio was not uniform across countries: individual products have different registrations, indications, distributors, and ownership arrangements. In 2019, Nestlé announced and completed the sale of Galderma to a consortium led by EQT. This transaction made Galderma an independent dermatology company and allowed its strategy to be managed separately from Nestlé’s broader food, nutrition, and healthcare interests. Following the transaction, Galderma continued investing in therapeutic dermatology and accelerated its emphasis on aesthetics and skin health. The company remained headquartered in Switzerland while operating internationally. Galderma subsequently expanded its commercial and innovation platform through product development, geographic growth, and selected portfolio activities. Its best-known commercial areas included the Restylane family of hyaluronic-acid fillers, Sculptra collagen-stimulating injectable treatment, Dysport botulinum-toxin products, prescription acne and inflammatory-dermatology treatments, and Cetaphil consumer skincare. The company also positioned aesthetics as a medically supervised specialty, emphasizing practitioner education and clinical support rather than treating injectables as ordinary cosmetics. In March 2024, Galderma completed an initial public offering on the SIX Swiss Exchange, trading under the symbol GALD. The listing created a public-market ownership structure and increased the company’s reporting obligations and visibility. Galderma’s present identity is that of a focused global dermatology platform with three principal pillars: therapeutic dermatology, aesthetic injectables, and consumer skin health. Its principal challenges include regulatory scrutiny, product safety, competition from pharmaceutical and aesthetic companies, changing consumer preferences, reimbursement conditions in prescription markets, and the need to maintain scientific credibility across both medical and elective-use categories. Galderma announced its intention to list in Switzerland on 6 March 2023. The initial public offering took place on 22 March 2024, trading under the symbol GALD. The listing marked a new ownership phase while preserving the company's three-part operating model: aesthetics, consumer care, and prescription medicine. Its global infrastructure includes research and development locations in Switzerland, Sweden, the United States, and Canada, together with manufacturing operations in Europe, North America, and South America. Its principal challenges include regulatory scrutiny, product safety, competition from pharmaceutical and aesthetic companies, changing consumer preferences, reimbursement conditions in prescription markets, and the need to maintain scientific credibility across both medical and elective-use categories.
- 2024
Initial public offering takes place
[1]Galderma completes its initial public offering on the SIX Swiss Exchange, trading under the ticker GALD.
- 2024
Initial public offering on SIX Swiss Exchange
[4]Galderma completes its IPO and begins trading on the SIX Swiss Exchange under the ticker GALD.
- 2023
Swiss listing plan is announced
[1]Galderma announces its intention to list on the Swiss stock exchange.
- 2021
Alastin is acquired
[1]Galderma acquires California-based Alastin, expanding its specialized professional skin-care portfolio.
- 2019
Galderma is sold to institutional investors
[1]Nestlé sells Galderma to a consortium including EQT, Luxinva, PSP Investments, and other institutional investors.
- 2019
Galderma becomes independent from Nestlé
[3]Nestlé sells Galderma to an investor consortium led by EQT, separating the dermatology company from Nestlé's corporate structure.
- 2014
Nestlé becomes sole owner
[1]Nestlé acquires L'Oréal's remaining interest and reorganizes the business within Nestlé Skin Health.
- 2010
Q-Med is acquired
[1]Galderma acquires Swedish medical-device company Q-Med, strengthening its aesthetics and corrective-products activities.
- 2007
Dysport distribution agreement
[1]Galderma and Ipsen sign an agreement concerning distribution of Dysport, marketed as Azzalure in the European Union.
- 2000
Canadian manufacturing facility begins production
[1]The Baie-d'Urfé facility near Montreal begins production and becomes a global supply site for Cetaphil.
Products and positioning
A specialist global dermatology platform combining prescription medicine, consumer skin care, and medical aesthetics. Galderma positions itself around science-led skin health and a portfolio that spans disease treatment, everyday skin care, and professional aesthetic procedures. A global specialist dermatology company combining prescription therapeutics, medical aesthetics, and consumer skin health. Its positioning is centered on science-led skin care and physician-supported treatment across the full dermatology lifecycle.
Consumer skin care
Cetaphil
A broad skin-care brand sold through consumer channels and used across age groups. Its portfolio is associated with everyday cleansing, moisturizing, and maintenance of skin health. Galderma also identifies Cetaphil as a globally manufactured and distributed consumer-care line. Cetaphil is a consumer skin-health brand built around cleansers, moisturizers, sunscreens, and products for sensitive or dry skin. It is distributed through pharmacies, healthcare channels, and retail markets in many countries. The brand is positioned around gentle formulations and everyday skin-barrier care rather than prescription treatment. Product formulas, claims, and availability differ by market. A broad skin-care brand sold through consumer channels and used across age groups. Its portfolio is associated with everyday cleansing, moisturizing, and maintenance of skin health, built around cleansers, moisturizers, sunscreens, and products for sensitive or dry skin. It is distributed through pharmacies, healthcare channels, and retail markets in many countries, and is positioned around gentle formulations and everyday skin-barrier care rather than prescription treatment. Galderma also identifies Cetaphil as a globally manufactured and distributed consumer-care line. Product formulas, claims, and availability differ by market.
Aesthetic injectables · 1996
Restylane
An aesthetic and corrective injectable portfolio associated with dermal-filler treatments. Restylane became a central part of Galderma's aesthetics business following the company's expansion and acquisition of Q-Med. Restylane is a family of hyaluronic-acid injectable products used by qualified healthcare professionals for aesthetic indications such as facial volume enhancement, contouring, and wrinkle treatment. Different formulations are designed for different anatomical areas and treatment objectives. Regulatory indications and approved uses vary by jurisdiction, and the products are intended for professional administration rather than direct consumer use. An aesthetic and corrective injectable portfolio associated with dermal-filler treatments, comprising a family of hyaluronic-acid injectable products used by qualified healthcare professionals for aesthetic indications such as facial volume enhancement, contouring, and wrinkle treatment. Different formulations are designed for different anatomical areas and treatment objectives. Restylane became a central part of Galderma's aesthetics business following the company's expansion and acquisition of Q-Med. Regulatory indications and approved uses vary by jurisdiction, and the products are intended for professional administration rather than direct consumer use.
Aesthetic injectables
Sculptra
A professional aesthetic injectable brand within Galderma's aesthetics unit. It is positioned alongside the company's filler and neuromodulator offerings for clinical aesthetic use. Sculptra is an injectable aesthetic product based on poly-L-lactic acid. It is used by trained practitioners to stimulate gradual collagen production and address selected concerns involving facial volume and skin quality. Unlike an immediately volumizing filler, its results develop over time and may require a series of treatments. Approved indications and labeling differ across countries. A professional aesthetic injectable brand within Galderma's aesthetics unit, based on poly-L-lactic acid. It is used by trained practitioners to stimulate gradual collagen production and address selected concerns involving facial volume and skin quality. Unlike an immediately volumizing filler, its results develop over time and may require a series of treatments. It is positioned alongside the company's filler and neuromodulator offerings for clinical aesthetic use. Approved indications and labeling differ across countries.
Botulinum toxin · 2007
Dysport and Azzalure
Botulinum-toxin aesthetic products commercialized under different names in different markets. Galderma's relationship with Ipsen dates to a 2007 distribution agreement, with Azzalure used as the European Union name for Dysport. Botulinum-toxin type A aesthetic and therapeutic products commercialized under different names in different markets. Galderma's relationship with Ipsen dates to a 2007 distribution agreement, with Azzalure used as the European Union name for Dysport. Depending on jurisdiction, indications may include treatment of selected muscle-spasticity conditions and temporary improvement of facial expression lines. Administration requires appropriately trained medical professionals, and dosing units are product-specific rather than directly interchangeable with other botulinum-toxin brands.
Prescription biologic · 2024
Nemluvio
A prescription biologic based on nemolizumab, designed to interfere with signaling involving interleukin-31. The product received United States approval for adult prurigo nodularis in 2024 and later for atopic dermatitis.
Prescription acne treatment · 2019
Aklief
A prescription dermatology brand included in Galderma's acne-treatment portfolio. A prescription topical retinoid product containing trifarotene, included in Galderma's acne-treatment portfolio. It is used for acne vulgaris in approved markets and was developed as a selective retinoic-acid receptor gamma agonist. As with other prescription retinoids, use is governed by local labeling and medical advice, including precautions concerning irritation and exposure during pregnancy.
Acne treatment
Epiduo, Epiduo Forte and Twyneo
Prescription acne-treatment brands in Galderma's dermatology portfolio, spanning formulations for mild-to-moderate and related acne-care needs. Epiduo combines adapalene and benzoyl peroxide, targeting acne through complementary mechanisms, and is marketed in several formulations and markets. The product's regulatory status, strength, naming, and availability depend on the country in which it is sold.
Prescription dermatology
Soolantra, Mirvaso and Oracea
Prescription brands used in dermatological treatment areas including rosacea and other inflammatory skin conditions.
Professional skin care · 2021
Alastin
A specialized skin-care business acquired by Galderma in 2021. It complements Galderma's aesthetics activities with products intended for professional and aesthetic skin-care settings.
Fungal nail-infection treatment
Loceryl
A consumer and prescription-related dermatology brand used in the treatment of onychomycosis, or fungal nail infection.
Botulinum-toxin therapeutics and aesthetics
Dysport
Dysport is a botulinum-toxin type A product used in approved therapeutic and aesthetic applications. Depending on jurisdiction, indications may include treatment of selected muscle-spasticity conditions and temporary improvement of facial expression lines. Administration requires appropriately trained medical professionals, and dosing units are product-specific rather than directly interchangeable with other botulinum-toxin brands.
Prescription dermatology
Epiduo
Epiduo is a prescription acne treatment combining adapalene and benzoyl peroxide. It targets acne through complementary mechanisms and is marketed in several formulations and markets. The product's regulatory status, strength, naming, and availability depend on the country in which it is sold.
Prescription and over-the-counter dermatology
Differin
Differin is a dermatology brand associated primarily with adapalene-based acne treatment. Depending on the jurisdiction, formulations may be prescription-only or available without a prescription. The brand is used for acne management and is supported by the clinical history of topical retinoid therapy, subject to local labeling and professional guidance.
Brand decisions
2024
Complete the Swiss initial public offeringOtherBackground
After several years under institutional ownership, Galderma sought access to public equity markets.
Action taken
Galderma listed on the Swiss stock exchange on 22 March 2024, trading under the ticker GALD.
Aftermath
The company became publicly traded while continuing to operate across aesthetics, consumer care, and prescription medicine.
2024
Public listing on SIX Swiss ExchangeStrategyBackground
After several years as an independently owned dermatology company, Galderma pursued access to public equity markets.
Action taken
Galderma completed an initial public offering and listed its shares on the SIX Swiss Exchange under the ticker GALD.
Aftermath
The listing made Galderma a publicly traded specialist dermatology company and increased its public reporting and investor visibility.
2021
Acquire AlastinM&ABackground
Galderma sought to expand its specialized skin-care offering for professional and aesthetic markets.
Action taken
The company acquired California-based Alastin.
Aftermath
Alastin became part of Galderma's broader consumer and aesthetics portfolio.
2019
Sell Galderma to an institutional-investor consortiumM&ABackground
Nestlé reorganized its portfolio and decided to divest the dermatology business.
Action taken
Nestlé sold Galderma to a consortium including EQT, Luxinva, PSP Investments, and other institutional investors.
Aftermath
Galderma became an independent dermatology company under private institutional ownership.
Transaction value. $10.2 billion (2019 sale)
2019
Separation from Nestlé through sale to EQT-led consortiumM&ABackground
Nestlé decided to divest its dermatology business as part of a broader effort to focus its portfolio and simplify its ownership structure.
Action taken
Galderma was sold to an investor consortium led by EQT and continued as an independent dermatology company.
Aftermath
The transaction gave Galderma independent ownership and enabled a strategy centered on therapeutic dermatology, aesthetics, and consumer skin health.
2014
Nestlé consolidates ownershipM&ABackground
Nestlé and L'Oréal ended their joint-venture ownership structure.
Action taken
Nestlé acquired L'Oréal's remaining shares and placed the business within Nestlé Skin Health.
Aftermath
Galderma operated as a wholly owned Nestlé dermatology business until its sale in 2019.
Transaction value. €3.1 billion (2014 transaction)
2010
Acquire Q-MedM&ABackground
Galderma sought to strengthen its position in aesthetic and corrective medical products.
Action taken
The company acquired Swedish medical-device company Q-Med.
Aftermath
The transaction expanded Galderma's aesthetics platform and supported the Restylane portfolio.
1981
Create a dedicated dermatology joint ventureStrategyBackground
Nestlé and L'Oréal sought to combine dermatology research, development, and commercialization capabilities.
Action taken
The companies established Galderma and integrated the International Center for Dermatological Research into its R&D structure.
Aftermath
The joint venture became the foundation for Galderma's later global dermatology, skin-care, and aesthetics businesses.
Recent events
- Unconfirmed
Galderma lifts its outlook[7]
Reported:
Galderma lifted its outlook for the second quarter in a row after sales increased, according to the source headline.
Galderma signs agreement to acquire US skincare brand ZO Skin Health for US$1.5 billion[8]
Reported:
Swiss health group Galderma announced it has signed an agreement to acquire 100% of US skincare brand ZO Skin Health for US$1.5 billion, to be paid entirely in cash and covered by existing cash reserves and bank financing. Sellers include funds managed by Blackstone Tactical Opportunities and the family of the brand's founder Zein Obagi. Completion is expected in the fourth quarter of 2026 or early 2027, subject to regulatory approvals and other customary closing conditions.
U.S. authorities clear Galderma's acquisition of ALASTIN[9]
Reported:
Galderma reported that it received antitrust clearance from U.S. authorities for its acquisition of ALASTIN Skincare.
Galderma announces GEMME medical education platform and inaugural webinar series[10]
Reported:
Galderma announced the launch of its Galderma Excellence in Multichannel Medical Education (GEMME) platform, beginning with a four-part webinar series scheduled to run from May 8 to July 10, 2021. The webinars are free for healthcare professionals and address the impact of mask wearing on skin health.
- Unconfirmed
FDA approves Aklief for acne treatment[11]
Reported:
The FDA approved Galderma's Aklief topical retinoid cream for the treatment of acne vulgaris. The source does not give the approval date.
Sources12 sources
- 1Galdermaen.wikipedia.org
- 2Galderma company informationgalderma.com
- 3Nestlé agrees to sell Galdermanestle.com
- 4Galderma news and investor informationgalderma.com
- 5Galderma leadershipgalderma.com
- 6https://www.galderma.comgalderma.com
- 7Galderma上调业绩展望news.google.com
- 8瑞士Galderma签署协议以15亿美元收购美国护肤品牌ZO Skin Healthswissinfo.ch
- 9美国当局批准Galderma收购ALASTINfinanznachrichten.de
- 10Galderma宣布推出GEMME医学教育平台及首期网络研讨会系列prnewswire.com
- 11FDA批准Aklief用于治疗痤疮healio.com
- 12Irvine-based ZO Skin Health Acquired for $1.5B - Orange County Business Journalocbj.com
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