L’Oréal gains 10% stake in Galderma with plans to boost R&D in dermatological care
05 Aug 2024 --- L’Oréal will acquire a 10% stake in Galderma, with a focus on extending its dermatology category. The companies signed a memorandum of understanding to collaborate on R&D through a scientific partnership.
The collaboration will focus on complementary research projects that could develop “advanced, future-proof” technologies with direct applications in dermatology, with a focus on skin aging.
“We are on a journey of growth, innovation and leadership in the field of dermatology, powered by our unique integrated model,” says Flemming Ørnskov, CEO at Galderma.
“As we continue to deliver outstanding performance across our blockbuster platforms in attractive dermatology market segments, our commitment to progressing our current late-stage pipeline and advancing science and innovation remains a cornerstone of our approach.”
The companies will jointly develop new products using complementary technology to expand and enhance their product portfolios.
Dermatological market
The partnership will focus on the dermatology market, including injectable aesthetics, dermatological skin care and therapeutic dermatology.
“We are delighted to welcome L’Oréal as a new, long-term Galderma shareholder and see their investment as a sign of confidence in our strategy, track record and growth potential. We look forward to pursuing scientific partnership opportunities together for the benefit of the customers, patients and consumers we serve across the globe every day,” explains Ørnskov.
Stake in Galderma Group
L’Oréal’s 10% stake in Galderma Group was sold by Sunshine SwissCo AG (a consortium led by EQT), Abu Dhabi Investment Authority and Auba Investment at an undisclosed premium.
“This transaction is part of our strategy to continue supporting Galderma on its outstanding growth journey in the attractive dermatology market,” says Michael Bauer, partner and co-head of the Global Healthcare Sector at EQT.
“We remain committed to Galderma and will continue managing our investment in the best interest of all its shareholders. Selling a minority stake to a reputable strategic partner such as L’Oréal, the global leader in beauty, is a direct reflection of our commitment.”
L’Oréal has agreed, vis-à-vis Sunshine SwissCo, to a customary stand-still and tender obligations for L’Oréal. Following the transaction, there will be no changes to the Galderma Board of Directors and its governance.
