Key Takeaways:
- Galderma's private equity backers have been taking advantage of the stock’s rally to offload shares despite recent market turmoil.
- Since March 2024, the stock has nearly tripled, rising 82% from its IPO price.
- Galderma floated on the SIX Swiss Exchange in March 2024, achieving the largest IPO placement volume in Switzerland since 2017.
A trio of Galderma shareholders exited their remaining 14.3% stake in the Swiss skincare company in the largest-ever overnight share sale in Switzerland. EQT AB, Abu Dhabi Investment Authority, and Auba Investment Pte. sold 34 million shares in an overnight trade valued at $6.3 billion.
Galderma was spun out of Nestlé in 2019 when a consortium led by private equity house EQT and including Singapore's GIC and the Abu Dhabi Investment Authority acquired the Nestlé Skin Health unit for $10 billion and rebranded it as Galderma. Since its inception in 1981, the business has been driven by a dedication to dermatology, delivering an innovative, science-based portfolio of sophisticated brands and services across aesthetics, consumer care, and prescription medicine. Galderma’s portfolio of flagship brands includes Restylane, Dysport, Azzalure, Alluzience, and Sculptra in injectable aesthetics; Cetaphil and Alastin in dermatological skincare; and Soolantra, Epiduo, Differin, Aklief, Epsolay, Twyneo, Oracea, Metvix, Benzac, and Loceryl in therapeutic dermatology. Galderma has more than doubled in size, growing from a €1.6 billion ($1.7 billion) to a €4.4 billion ($4.8 billion) company in 2024.
DETAILS:
- The buyout group of EQT AB, Abu Dhabi Investment Authority, and Auba Investment Pte. sold 34 million existing shares and raised 4.
