Galderma eyes product expansion while keeping focus on aesthetics and consumer goods
Swiss skincare group Galderma is weighing a broader product range as it looks for further growth beyond its current portfolio. The company says it wants to avoid overextending itself even as sales rise strongly and its shares prepare to enter Switzerland's benchmark SMI index next week.
Highlights
- Galderma plans selective product expansion via bolt-on deals in aesthetics or consumer goods, emphasizing disciplined acquisitions to maintain operational focus.
- L'Oreal, Galderma's largest shareholder with a 20% stake, jointly leads a New York-based collagen research program, with Galderma open to expanding this collaboration.
- Galderma reported a 25% sales increase for the first half of 2026, slightly raised its full-year guidance, and will join Switzerland's SMI index next week.
Expansion strategy and deal discipline
As reported by Reuters, citing Finanz und Wirtschaft, Chief Executive Flemming Ornskov says Galderma plans to expand its product range at some point but wants to stay disciplined about where it adds new assets.He says he would favor bolt-on deals in aesthetics or consumer goods, while cautioning that buying too many products can cause companies to lose focus. He says it is better to do a few things well than many poorly.
Research ties and market position
Galderma competes closely with its largest shareholder, L'Oreal, which holds a 20% stake in the Swiss company, while the two groups also run a joint collagen research project.The collaboration is focused on stimulating the skin's collagen production, with clinical work taking place at a dedicated laboratory in New York. Ornskov says he is open to expanding that research partnership.
In July, Galderma reported a 25% increase in sales for the first half of 2026 and slightly raised its full-year guidance. The company is also set to join Switzerland's blue-chip SMI index next week.
Our earlier article on a potential sale of Allspring Global Investments outlined how its private equity owners, GTCR and Reverence Capital, were exploring a deal that could value the firm at around $4bn, though discussions were still at an early stage. We also noted that the possible transaction was unfolding amid a broader pickup in consolidation across the global asset management industry, with record deal values reshaping the competitive landscape.
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