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Galderma to Acquire ZO Skin Health in US$1.5 Billion Deal

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Galderma to Acquire ZO Skin Health in US$1.5 Billion Deal

THE WHAT? Galderma has signed an agreement to acquire US physician-dispensed skincare brand ZO Skin Health for US$1.5 billion, strengthening its dermatological skincare portfolio and expanding its position in the medical aesthetics market.

THE DETAILS Galderma will acquire 100 percent of ZO Skin Health from shareholders including Blackstone Tactical Opportunities and the Obagi family in an all-cash transaction. Founded by dermatologist Dr Zein Obagi, the US-based company generated approximately US$330 million in net sales in the 12 months to June 2026 and operates across more than 40 countries through a network of over 16,500 physician, medical spa and online accounts. The acquisition will complement Galderma’s existing Cetaphil and Alastin brands, strengthening its offering across professional skincare and aesthetic treatments. The transaction is expected to close in the fourth quarter of 2026 or early 2027, subject to regulatory approval, with Galderma planning increased commercial investment to support future growth.

THE WHY? The acquisition strengthens Galderma’s position in the growing medical-grade skincare market, expanding its relationships with dermatologists and aesthetic practitioners while creating opportunities for international distribution, product innovation and cross-category growth alongside its injectable aesthetics business.



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