Galderma and L’Oréal enter into a scientific partnership

Galderma has signed a Memorandum of Understanding with L’Oréal to develop a new R&D collaboration, focusing on complementary research projects with a scientific partnership to develop advanced, future-oriented technologies with direct applications in dermatology.

L’Oréal shares Galderma’s focus on the skin and its commitment to growth and innovation.

This collaboration enables both companies to explore new avenues to accelerate innovation in dermatology, resulting in new combined effects in the fight against signs of skin aging. Ultimately, both companies will be able to develop new products using complementary technologies to expand and enhance their portfolios.
Michael Bauer, Partner and Co-Head of Global Healthcare at EQT, said: "This transaction is part of our strategy to continue supporting Galderma's superior growth in the attractive dermatology market. We remain committed to Galderma and will continue to manage our investment in the best interests of all shareholders. The sale of a minority stake to a reputable strategic partner like L'Oréal, a global leader in beauty, is a direct reflection of our commitment."

L'Oréal has also signed an agreement with Sunshine SwissCo AG (a consortium led by EQT), Abu Dhabi Investment Authority (ADIA) and Auba Investment Pte. Ltd. (as sellers) and L'Oréal Group to sell its 10% stake in Galderma Group AG for an undisclosed premium.

There will be no changes to the Galderma Board and governance structure following the completion of the transaction. Flemming Ørnskov, Chief Executive Officer of Galderma, said: "We are on a journey of growth, innovation and leadership in dermatology, driven by our unique integrated model. As we continue to outperform with our blockbuster product platform in the attractive dermatology segment, we are committed to advancing our current late-stage pipeline and driving science and innovation, which remain the cornerstones of our approach. We are delighted to welcome L'Oréal as a new long-term shareholder of Galderma and view their investment as a sign of confidence in our strategy, track record and growth potential. We look forward to jointly pursuing scientific collaboration opportunities for the benefit of the clients, patients and consumers we serve every day around the world."