Galderma Signs Agreement To Acquire ZO Skin Health For $1.5 Bln; Expands Skincare Portfolio

[Galderma Completes Acquisition of ZO Skin Health for $1.5 Billion, Expanding Dermatological Presence]

Galderma announced it has signed an agreement to acquire ZO Skin Health, a skincare brand, for an enterprise value of $1.5 billion in an all‑cash transaction.

ZO Skin Health offers a daily, regimen‑based portfolio centered on retinol‑ and acid‑based protocols, complementing Galderma’s Dermatological Skincare suite, which includes Cetaphil and Alastin’s peptide‑based regenerative pre‑ and post‑procedure solutions.

The brand markets more than 40 products through a network of over 16,500 physician, medical spa, and online accounts across more than 40 countries. ZO Skin Health generated net sales of approximately $330 million in the past twelve months as of June 2026.

This deal strengthens Galderma’s dermatological skincare portfolio and aims to reinforce its standing with dermatologists, plastic surgeons, and aesthetic specialists.

Financing combines existing cash reserves with bank loans, with the transaction slated to close in Q4 2026 or early 2027, pending standard conditionalities.

The closure may modestly dilute Galderma’s Core EBITDA margin in 2027.

Lazard serves as lead financial advisor, JP Morgan acts as a financial advisor, and Ropes & Grey LLP provides legal counsel for Galderma.

“With our Dermatological Skincare and Injectable Aesthetic businesses, Galderma is strategically positioned to capture growth opportunities within the rapidly expanding medical‑grade skincare sector,” said Flemming Ørnskov, Chief Executive Officer.

GALD.SW trades between 134.70 and 188.25 Swiss francs. The share closed at 167.35 Swiss francs on Tuesday, down 0.48%.

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