L’Oréal to acquire a 10% stake in Galderma recognizing its dermatology category leadership and long-term growth potential
Ad hoc announcement pursuant to Art. 53 LR
ZUG, Switzerland--(BUSINESS WIRE)--Galderma today announced that it has signed a memorandum of understanding with L’Oréal to work towards a new research and development (R&D) collaboration in the form of a scientific partnership focused on complementary research projects which could develop advanced, future-proof technologies with direct applications in the field of dermatology.
Today’s announcement enables Galderma and L’Oréal to pursue new avenues and accelerate innovation in the field of dermatology in order to deliver new combined levels of performance against the signs of skin aging. It can ultimately enable these two leaders to jointly develop new products using complementary technology to expand and enhance their respective product portfolios. As the world leader in Beauty and forerunner in Beauty Tech, L’Oréal shares with Galderma a clear focus on skin, and a strong commitment to growth and innovation. The expertise, capabilities and reach of Galderma and L’Oréal offer a collaboration that is uniquely positioned in fast-growing and highly attractive consumer-focused segments of the dermatology and beauty markets.
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“We are on a journey of growth, innovation and leadership in the field of dermatology, powered by our unique integrated model. As we continue to deliver outstanding performance across our blockbuster platforms in attractive dermatology market segments, our commitment to progressing our current late-stage pipeline and advancing science and innovation remain a cornerstone of our approach. We are delighted to welcome L’Oréal as a new, long-term Galderma shareholder and see their investment as a sign of confidence in our strategy, track record and growth potential. We look forward to pursuing scientific partnership opportunities together, for the benefit of the customers, patients and consumers we serve across the globe every day.”
FLEMMING ØRNSKOV, M.D., MPH CHIEF EXECUTIVE OFFICER GALDERMA
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