(Reuters) -Swiss skincare company Galderma raised its full-year guidance on Thursday after its third-quarter sales beat analyst expectations, sending its shares up around 7%.
Third-quarter net sales came in at $1.29 billion compared with the $1.24 billion provided in a company-compiled consensus.
Galderma highlighted strong growth particularly in its Nemluvio dermatology portfolio and said it is focusing further on the U.S. market to support this momentum.
“We are deepening our investments in the U.S., expanding our presence, and strengthening partnerships with healthcare professionals,” chief executive Flemming Ornskov said in a statement.
Galderma now expects full-year net sales to increase to between 17% and 17.7% year-on-year at constant currency from 12% to 14%. It also specified its forecasted core EBITDA margin, expecting between 23.1% and 23.6% at constant currency, from about 23% previously.
It said it has committed to spend more than $650 million on U.S. manufacturing through 2030.
Third-quarter net sales in the U.S. grew by 17.5% from the same quarter last year.
(Reporting by Marleen Kaesebier in Gdansk; Editing by Joe Bavier)
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