Galderma reported 2025 Therapeutic Dermatology net sales of $1.185B, up 50.2% year on year at constant currency, driven by an “outstanding” launch trajectory for Nemluvio in prurigo nodularis and atopic dermatitis that more than offset declines in the mature prescription portfolio. Nemluvio generated $452M in 2025 net sales, with the vast majority in the U.S., split roughly evenly between prurigo nodularis and atopic dermatitis, and with Nemluvio’s first international markets showing an even steeper launch curve from a smaller base.
The company said Nemluvio’s U.S. market share in new biologic patient starts (NBRx) by late January 2026 was trending around 35% in prurigo nodularis and 8% in atopic dermatitis, supported by a differentiated clinical profile, sales force expansion, and broad first‑line biologic access across commercial plans, plus a first major Medicare access win from January 2026. On the back of this demand and positive real‑world experience, Galderma raised Nemluvio’s global peak‑sales guidance from above $2B to above $4B for prurigo nodularis and atopic dermatitis combined.
Across its broader pharma-focused dermatology portfolio, Galderma’s neuromodulators business (including Dysport and next-generation Relfydess) delivered 2025 net sales of $1.471B, up 14.3% at constant currency, while Fillers & Biostimulators, led by Sculptra, reached $1.101B, up 8.0% at constant currency. The company highlighted U.S. FDA progress for Relfydess with an accepted BLA resubmission for glabellar and lateral canthal lines, and an expanded EU MDR indication for Sculptra beyond the face to body areas such as the gluteal region and upper arms, underscoring its pipeline- and indication‑expansion strategy in aesthetic and therapeutic dermatology.
For 2026, Galderma guided to group‑wide net sales growth of 17–20% at constant currency and a Core EBITDA margin of about 26%, and specified mid‑term (2023–2027) Therapeutic Dermatology growth above 30% at constant currency, significantly faster than its aesthetics and skincare segments, with Nemluvio positioned as a principal long‑term pharma growth driver.
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