Galderma explores opportunities to expand its manufacturing and innovation footprint in Asia Pacific
Galderma, the pure-play category leader in dermatology, will explore opportunities to build its fifth manufacturing facility in Singapore.
Supported by the Singapore Economic Development Board, the new plant is expected to increase Galderma’s manufacturing capacity to up to 350 million units per year, in response to continued demand for high-end science-based products in the dermo-cosmetics industry .
The announcement is part of Galderma’s strategic manufacturing roadmap, aligned with the company’s unique integrated dermatology strategy. After a record performance in 2021, Galderma posted strong commercial and financial performance in the first half of 2022, with continued strong growth across all product categories. In particular, dermo-cosmetics grew 31% year-on-year at constant exchange rates, driven by the good performance of Cetaphil driven by e-commerce and launches in China and the rest of Europe. Asia.
“Our goal is to support our strong long-term growth trajectory with a new manufacturing facility that will significantly increase our ability to serve consumers with premium brands from our differentiated Dermo-Cosmetics portfolio across all geographies, primarily in our key markets in Asia-Pacific,” said Flemming Ørnskov, CEO of Galderma. “We sincerely thank the Singapore Economic Development Board for their support, and look forward to continuing our collaboration to bring this exciting project to life.”
With its premiumization strategy and broad distribution network, Galderma is well positioned to capitalize on growing consumer demand across the Asia-Pacific region, where the fascinating dermatology market has remained on a steady growth trajectory. , with strong demand for high-end scientific products. Galderma’s new manufacturing facility in Singapore is expected to increase the premium dermo-cosmetics brand’s total production capacity to 350 million units per year, in line with expected growth in the region.
“We welcome Galderma’s expansion into Singapore, driven by the need to meet growing consumer demand and sophistication in Asia,” said Tan Kong Hwee, Executive Vice President of the Economic Development Board. “This adds to the growing number of consumer healthcare companies using Singapore as an innovation hub. We are also delighted that Galderma’s first dermo-cosmetics manufacturing facility in Asia is coming to Singapore as it will leverage and contribute to Singapore’s advanced manufacturing capabilities. There will be many exciting innovation and manufacturing job opportunities that Galderma will create with this investment.”
Galderma already has a well-established presence in Singapore, which is not only a key market for Galderma’s innovative portfolio of cutting-edge brands and services, but also serves as a regional hub for Asia-Pacific.