Galderma generated $1.6bn in sales in Q3 2026, up 26.0% year on year at constant currency. Growth was predominantly volume-led, with some favourable mix, and performance benefited from continued market outperformance across all product categories amid more resilient market conditions than expected.
Injectable Aesthetics accounted for 45% of sales and grew 15.4%. Neuromodulators rose 24.1%, with Q3 growth supported by the unwinding of U.S. phasing effects from Q2. Fillers and Biostimulators increased 4.8%, reflecting continued softness in the fillers market and a high prior-year base in the second half.
Dermatological Skincare grew 15.6% and represented 24% of Q3 sales. Cetaphil performed particularly well in fast-growing International markets, especially Asia. Alastin delivered double-digit growth in both the U.S. and International markets, while e-commerce remained the fastest-growing channel globally.
Therapeutic Dermatology grew 58.9% to $499m, or 31% of sales. Nemluvio generated $302m. From the first week of September to the second week of October, its U.S. paid new-patient share was around 45% in prurigo nodularis and 9% in atopic dermatitis. Over the first nine months, the mature portfolio also grew, with generic entries slower than expected.
The U.S. grew 39.4% and represented 46% of Q3 sales. International markets grew 16.2% and contributed the remaining 54%.
Galderma raised its 2026 constant-currency net sales growth guidance from 19-21% to 22.5-23.5%, reflecting the stronger-than-anticipated trajectory, and confirmed Core EBITDA margin guidance of approximately 26%.
