Galderma hits 2.2B in sales and injectable wrinkle solution is approved in Europe
30 Jul 2024 --- Galderma releases its financial results for the first half of 2024, with record net sales of US$2.2 billion and growth of 10.8%. This was announced next to the completion of its European decentralized procedure for Relfydess, which treats face wrinkles.
Relfydess is designed to temporarily improve the appearance of moderate-to-severe glabellar lines (frown lines) at maximum frown and lateral canthal lines (crow’s feet) seen at maximum smile, alone or in combination, in adult patients under 65 years, when the severity of these lines has a significant psychological impact on the patient.
The treatment is described as the “first and only” ready-to-use liquid neuromodulator created with Pearl technology from the pharmaceutical company. It is designed to preserve molecule integrity to deliver an active, innovative and complex-free molecule.
According to Galderma, up to 39% of patients see effects from day one, and up to 75% maintain improvements for six months for frown lines and crow’s feet.
“With Relfydess, Galderma is introducing a highly differentiated and innovative neuromodulator, reinforcing our leadership and strong growth in this field and our commitment to developing and delivering the broadest portfolio in Injectable Aesthetics,” says Flemming Ørnskov, CEO at Galderma.
“As per the decentralized European approach, our teams are now finalizing the approval procedures at the country level, so we’re ready to launch in multiple markets early next year.”
Patients recorded improved results after using Relfydess.Reducing wrinkles
The company conducted a phase III clinical trial program, which enrolled over 1,900 participants. After one month, the solution demonstrated a 96.3% none-or-mild responder rate for frown lines and 87.2% for crow’s feet, against 4.5% and 11.9% for placebo, respectively.
Thirty-nine percent of patients reported improvements in frown lines and 34% reported improvements in crow’s feet from day one. Seventy-five percent of patients maintained improvements for six months.
At month one, up to 96% achieved none-or-mild frown lines and crow’s feet, sustained for six months in almost a quarter of patients.
Galderma claims patient satisfaction was maintained for six months following treatment.
“With the growing need for new innovations in the neuromodulator space, I’m excited that, with Relfydess, we have a new treatment that delivers both fast and sustained results in a simple and convenient formulation so we can achieve the desired outcomes for our patients quickly, effectively, and without compromise,” explains Dr. Sachin Shridharani, lead investigator of Ready-1 Trial Plastic Surgeon and Founder of Luxurgery.
The treatment is now under finalization approval in 16 countries. It also received a marketing authorization in Australia earlier this year.
Dermatology sector growth
Galderma’s Injectable Aesthetics received broad-based growth across all product categories, with constant currency year-on-year growth of 13.4%. Dermatological Skincare gained 11.8% year-on-year growth and 2.2% for Therapeutic Dermatology.
“Galderma delivered a strong first half of the year with excellent sales, profit and cash generation results, underscoring the benefits of our unique and growth-focused integrated business model,” asserts Ørnsko.Relfydess is now available to be used in Europe.
Injectable Aesthetics net sales were US$1.139 billion. Both sub-categories “performed strongly”— neuromodulators’ net sales were US$622 million, with year-on-year growth of 16.6% on a constant currency basis, and fillers and biostimulators’ net sales were US$517 million, with year-on-year growth of 9.8% on a constant currency basis.
Dermatological Skincare net sales for the first half of 2024 were US$675 million. Growth in the US was rebalanced after the first quarter phasing impact in Cetaphil. Cetaphil grew double-digits in international markets.
“Dermatology continues to be an attractive market despite some slowdown in a few segments, which we have been able to overcompensate via market share gains and continued global expansion,” explains Ørnsko.
Therapeutic Dermatology net sales for the first half of 2024 were US$388 million. The growth was mainly driven by international markets, more than offsetting anticipated lower volumes and ongoing market genericization in the US.
Galderma attributes part of its growth to digital and e-commerce activation, underpinned by targeted innovation and scientific engagement.
“We are also progressing our late-stage pipeline with two potential blockbusters on track to contribute to the overall company performance as early as 2025. We remain confident in delivering strong 2024 full-year results and are well set up for continued future growth,” concludes Ørnsko.
By Sabine Waldeck
