Galderma has signed a memorandum of understanding with L’Oréal to work towards a new research and development (R&D) collaboration in a scientific partnership focused on complementary research projects that could develop advanced, future-proof technologies with direct applications in dermatology.
 
L’Oréal shares with Galderma a clear focus on skin, and a strong commitment to growth and innovation. 
 
This partnership enables both companies to pursue new avenues and accelerate innovation in dermatology to deliver new combined levels of performance against the signs of skin aging. It can ultimately enable these two companies to develop new products using complementary technology to expand and enhance their product portfolios.
 
Michael Bauer, Partner and Co-Head of Global Healthcare Sector, EQT, said, 
 
“This transaction is part of our strategy to continue supporting Galderma on its outstanding growth journey in the attractive dermatology market. We remain committed to Galderma and will continue managing our investment in the best interest of all its shareholders. Selling a minority stake to a reputable strategic partner such as L’Oréal, the global leader in Beauty, is a direct reflection of our commitment.”
 
L’Oréal also signed an agreement with Sunshine SwissCo AG (a consortium led by EQT), Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte. Ltd., acting as sellers, and L’Oréal Group for the sale of a 10% stake in Galderma Group AG at an undisclosed premium.
 
L’Oréal has agreed vis-à-vis Sunshine SwissCo AG to a customary stand-still and tender obligations for L’Oréal.
 
Following the transaction, no changes to the Galderma Board of Directors and its governance are envisioned.
 
Flemming Ørnskov, Chief Executive Officer, Galderma, commented,
 
“We are on a journey of growth, innovation and leadership in the field of dermatology, powered by our unique integrated model. As we continue to deliver outstanding performance across our blockbuster platforms in attractive dermatology market segments, our commitment to progressing our current late-stage pipeline and advancing science and innovation remain a cornerstone of our approach. We are delighted to welcome L’Oréal as a new, long-term Galderma shareholder and see their investment as a sign of confidence in our strategy, track record and growth potential. We look forward to pursuing scientific partnership opportunities together, for the benefit of the customers, patients and consumers we serve across the globe every day.”

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