Swiss skincare company Galderma reported on Thursday that its first-quarter sales jumped 25.5% at constant exchange rates to $1.47 billion (€1.25 billion), and signaled it can manage the impact of US tariffs in 2026. The Zug-based group was boosted by strong demand in the United States, where sales rose 41.5% year-on-year for the January-March period.
"Based on the strong start to the year, the outlook appears increasingly secure, with the group expressing confidence in its ability to navigate a volatile environment," Galderma said in a statement. The results lifted the stock, which was up more than 6% shortly before 09:00 GMT.
Galderma, listed on the Swiss stock exchange just over two years ago, said its exposure to US tariffs should remain "manageable" this year. CEO Flemming Ornskov noted that sales of Nemluvio, its injectable treatment for dermatitis, were solid, with US demand for dermatological skincare products proving particularly robust on Amazon and other e-commerce platforms.
Ornskov told Reuters that Galderma is gaining market share in the US and is closely monitoring how companies handle potential refunds related to tariffs invalidated by the US Supreme Court. Any amount owed would not significantly change the group's 2026 financial outlook, he added.
Galderma has so far managed to mitigate the impact of the Middle East conflict, according to Ornskov. "At the moment, we have not seen any real impact on our procurement costs," he said. "And we have a very diversified supply chain."
Source: Read the original report | Published: April 28, 2026