Finance
Skincare firm galderma not expecting hit from MidEast turmoil
Published by Global Banking & Finance Review®
Posted on March 5, 2026
2 min readLast updated: March 5, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 5, 2026
2 min readLast updated: March 5, 2026
Galderma’s CEO Flemming Ørnskov said on March 5, 2026 that the Middle East, representing less than 2% of its business, is unlikely to materially impact results despite regional upheaval; the company remains confident of growth in skincare and aesthetics and reaffirmed strong full‑year net sales and
ZURICH, March 5 (Reuters) - Galderma still sees the Middle East as an attractive market, and the conflict there is unlikely to have a major impact on the Swiss skincare firm because the region only accounts for a small share of its business, CEO Flemming Ornskov said on Thursday.
Ornskov said less than 2% of Galderma's business was currently in the Middle East, although the company has been pushing to grow there, highlighting its recent entry into Saudi Arabia and expansion in the United Arab Emirates.
He said Galderma saw plenty of scope for growth in both skincare products and injectable aesthetics in the region and was pressing ahead with its plans.
"Of course, they may have had a bit of a setback now with what's going on," Ornskov told Reuters, adding that the well-being of workers and customers was paramount to the company.
"But, when all is said and done, and down the line, I'm absolutely sure we will, with renewed energy, continue to build out our business there," he said.
Ornskov was speaking after shares in the firm jumped on Thursday following its report of 17.7% growth in full-year net sales and upbeat guidance for 2026.
The CEO added that while "everybody will be affected" by a surge in oil prices caused by the Middle East conflict, for Galderma "in terms of our results and what we have to do, it's not something that will have an immediate impact on us."
"What is more important for us is, of course, also to watch what's going on in the tariff situation," he said, noting that Galderma was observing how events play out regarding potential refunds to companies hit by U.S. tariffs.
He said Galderma had not filed a lawsuit for a refund.
(Reporting by Dave Graham. Editing by Madeline Chambers and Mark Potter)
Less than 2% of Galderma's business is currently in the Middle East.
Yes, Galderma plans to continue growing in the Middle East, including Saudi Arabia and the UAE.
No major impact is expected, as the region accounts for a small share of Galderma's business.
Yes, Galderma reported 17.7% growth in full-year net sales.
Galderma is also monitoring U.S. tariffs and their potential impact.
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