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
Galderma Expects Minimal Business Impact from Middle East Conflict
Galderma's Business Outlook and Regional Strategy
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.
Current Market Share in the Middle East
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.
Growth Opportunities and Expansion Plans
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.
Impact of Regional Conflict and Company Response
"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.
Financial Performance and Market Reaction
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.
Oil Prices and Broader Economic Factors
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."
Tariffs and Legal Considerations
"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)
