Galderma's second rejection in the U.S. for antiwrinkle treatment Relfydess has no impact on its regulatory submissions in other countries, notably Brazil, analysts at Bank of America say in a research note. In Brazil, the Swiss skincare specialist should be able to drive incremental growth once the product is approved, the analysts say. The U.S. decision has no impact on Galderma's guidance for 2026, they add. Still, Bank of America lowers its 2027 sales growth forecast for Galderma's neuromodulators segment to 12% from 15% previously. "From early discussions, investors consensually expect a one-year delay at this stage, consequently delaying the growth benefits of the launch in neuromodulators' key market to late 2027," the analysts say. Shares rise 1.4%. (adria.calatayud@wsj.com)
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Galderma's Relfydess U.S. Delay Doesn't Have to Derail Brazil Submission — Market Talk
Galderma's second rejection in the U.S. for antiwrinkle treatment Relfydess has no impact on its regulatory submissions in other countries, notably Brazil, analysts at Bank of America say in a research note. In Brazil, the Swiss skincare specialist should be able to drive incremental growth once th…