Galderma CEO ‘doubles down on science’ ahead of potential IPO

Galderma CEO ‘doubles down on science’ ahead of potential IPO

THE WHAT? Flemming Ornskov, Galderma CEO, has stated he is ‘doubling down on science’ ahead of the company’s preparation for an IPO.

THE DETAILS Ornskov is said to be accelerating research spending and adding dermatologists and medical specialists to the roster in a bid to navigate the skincare business on a new course. 

Ornskov is looking to succeed where former owner Nestle failed, with the parent company struggling to keep profits up as key patents expired. 

Speaking in an interview with Bloomberg, the chief exec has stated that the company is now in a better position, with new offerings, and international and online expansion helping to bolster the brand over the past year. 

THE WHY? The change in direction for the company comes as banks have been prepared for a possible Initial Public Offering in the second quarter of 2022, most likely on the Swiss exchanged, according to a source. 

Ornskov said, “People are willing to pay a premium if you give them a premium product. When consumers have many choices, you want to say to them, ‘If you get our products, they are scientifically based. They are differentiated.’