Galderma
Founded in 1981 as a L’Oréal and Nestlé joint venture, Galderma is a pure-play, Swiss-based global dermatology leader.
- Pillar
- Quoted Equities
- Theme
- Healthcare
- Status
- Current Investment
- Geography
- Switzerland
- Invested date
- March 2024
Why we invest
Dermatology is the fastest-growing area of the self-care market, driven by increasing consumer awareness of skin health and greater focus on preventative and non-invasive aesthetic treatments.
Galderma occupies resilient, attractive segments, from injectable aesthetic treatments and dermatological skincare to therapeutic dermatology. It has delivered strong revenue growth and free cash flow following successful product launches and geographical expansion.
RIT invested in Galderma’s oversubscribed initial public offering (IPO) in March 2024, after engaging early with the company and due to our strong relationship with principal investor EQT. We have since increased our stake further.
Galderma’s share price more than tripled (>3x) since its flotation in March 2024.
