L'Oréal has increased its ownership stake in Galderma to 20%, signaling continued confidence in the Swiss aesthetics company despite recent FDA setbacks on its neuromodulator candidate Relfydess. The move reflects L'Oréal's long-term commitment to the medical aesthetics market and Galderma's portfolio of injectables and devices.
Business & M&A
L'Oréal Boosts Galderma Stake to 20% — Signals Confidence in Neuromodulator Pipeline
Luxury conglomerate deepens investment in Swiss aesthetics player amid regulatory headwinds on Relfydess.
L'Oréal increases stake to 20%, signaling confidence despite Relfydess FDA setback.
Galderma's core franchise—Dysport (abobotulinumtoxinA) and dermal fillers—remains profitable, but the failed Relfydess application (a new-formulation botulinum toxin) has created near-term uncertainty. L'Oréal's increased stake suggests the parent company views Galderma's existing product moat and geographic reach as valuable enough to weather regulatory disappointment. For practices, this reinforces Galderma's stability as a supplier, though the Relfydess failure underscores the difficulty of displacing entrenched neuromodulator players.
Source: original report ↗
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