Galderma Announces Intention to Expand Manufacturing and Innovation Footprint in Asia-Pacific
Galderma, the pure-play dermatology category leader, announces its intention to explore opportunities to build its fifth manufacturing plant in Singapore
Supported by the Singapore Economic Development Board, the new facility is expected to increase Galderma’s manufacturing capacity by up to 350 million units per year, in response to continuing demand for premium science-based products in the Dermo-cosmetics sector
Mr. Tan Kong Hwee, Executive Vice President of the Singapore Economic Development Board (EDB) and Flemming Ørnskov, M. D., MPH, Chief Executive Officer of Galderma
ZUG, SWITZERLAND--(Business Wire / Korea Newswire) October 13, 2022 -- Reaffirming its bold ambition to become the leading dermatology company in the world, Galderma today announced its intention to expand its manufacturing and innovation footprint in the Asia-Pacific region, with support from the Singapore Economic Development Board. Galderma intends to explore opportunities to build a fifth manufacturing plant with a high degree of digitalization and automation in Singapore in response to growing consumer demand and to support long-term sustainable growth over the coming years.
The announcement comes as part of Galderma’s strategic manufacturing roadmap, aligned with the company’s unique Integrated Dermatology Strategy. Following a record 2021 performance, Galderma has demonstrated strong commercial and financial performance in the first half of 2022, with continued strong growth across product categories. In particular, Dermo-cosmetics has grown by 31% year-on-year on a constant currency basis, fueled by the strong performance of Cetaphil® driven by e-commerce and launches in China and the rest of Asia.
“Our goal is to support our strong growth trajectory in the long-term with a new manufacturing plant that will significantly increase our capacity to serve consumers with premium brands from our differentiated Dermo-cosmetics portfolio across geographies, and primarily throughout our key markets in Asia-Pacific. We sincerely thank the Economic Development Board of Singapore for its support, and we look forward to further collaboration to bring this exciting project to life.”
FLEMMING ØRNSKOV, M.D., MPH
CHIEF EXECUTIVE OFFICER
With its premiumization strategy and broad channel exposure, Galderma is well positioned to capitalize on growing consumer demand across Asia-Pacific, where the compelling dermatology market has remained on a consistent growth trajectory, with robust demand for premium science-based products. Galderma’s new manufacturing plant in Singapore is expected to increase the company’s total capacity for Dermo-cosmetics premium brand production by up to 350 million units a year, in line with anticipated growth in the region.
“We welcome Galderma‘s expansion in Singapore, driven by the need to meet growing demand and sophistication of consumers in Asia. This adds to the growing number of consumer healthcare companies that use Singapore as a hub for innovation. We are also pleased that Galderma’s first Dermo-cosmetics manufacturing plant in Asia will be landing in 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.”
MR TAN KONG HWEE
EXECUTIVE VICE PRESIDENT
ECONOMIC DEVELOPMENT BOARD
Galderma already benefits from 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 its Asia-Pacific regional hub.
Galderma is the pure-play dermatology category leader, present in approximately 90 countries. We deliver an innovative, science-based portfolio of premium flagship brands and services that spans the full spectrum of the fast-growing dermatology market through Injectable Aesthetics, Dermo-cosmetics and Therapeutic Dermatology. Since our foundation in 1981, we have dedicated our focus and passion to the human body’s largest organ - the skin - meeting individual consumer and patient needs with superior outcomes in partnership with healthcare professionals. Because we understand that the skin we’re in shapes our lives, we are advancing dermatology for every skin story.
For more information: www.galderma.com
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This is a news release distributed by Korea Newswire on behalf of this company.