ZURICH, April 23 (Reuters) – Swiss skincare company Galderma said on Thursday that first-quarter sales jumped 25.5% in constant-currency terms to $1.47 billion and signalled it could manage the impact of U.S. tariffs in 2026.
The Zug-based group was buoyed by strong demand in the U.S., where sales surged 41.5% year on year in the January–March period.
“Based on the strong start to the year, the guidance is increasingly being de-risked with confidence to navigate a volatile environment,” Galderma said in a statement.
The results lifted the company’s shares, which were up more than 6% shortly before 0900 GMT.
Galderma, which was listed on the Swiss stock exchange just over two years ago, said its exposure to U.S. tariffs was expected to remain “manageable” this year.
Chief Executive Flemming Ornskov said sales of its injectable dermatitis treatment Nemluvio were very strong, with U.S. demand for dermatological skincare products particularly robust on Amazon and other e-commerce platforms.
Ornskov told Reuters that Galderma was gaining market share in the U.S., and was monitoring how companies handled potential refunds linked to tariffs struck down by the U.S. Supreme Court.
Any amounts owed would not materially change the group’s 2026 financial outlook, he said.
Galderma has so far managed to mitigate the impact of the conflict in the Middle East, Ornskov said.
“We haven’t really seen an impact on our supply costs at this stage,” he said. “And we have a very diverse supply chain.”
(Reporting by Dave Graham. Editing by Ludwig Burger and Mark Potter)
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