ZUG, SWITZERLAND -- Galderma (SIX: GALD), the pure-play dermatology category leader, announced that it has agreed to repurchase 1.6 million shares at a price of CHF 143.75 per share for a total consideration of CHF 232 million in the context of the accelerated bookbuild offering (“ABO”) of Galderma shares by Sunshine SwissCo GmbH (“EQT”), Abu Dhabi Investment Authority (Private Equities Department) and Auba Investment Pte. Ltd. (all together the “Selling Shareholders”) launched yesterday evening. The repurchase was made at the same price per share determined by the bookbuilding offering.

As a result of yesterday evening’s ABO, the Selling Shareholders have fully divested their remaining stake in Galderma.

The repurchase, which is expected to settle on March 13 is being financed by Galderma’s existing liquidity on hand and will not affect the company’s ability to deliver on its strategic and financing priorities.

The shares will be held in treasury for future use in connection with Galderma's employee participation plans, business development opportunities and/or treasury management.

“This repurchase reflects our confidence in Galderma’s future growth. Through our unique integrated dermatology strategy, consistent execution and financial discipline, we continue to strengthen our category leadership. This underscores our ambition to build the undisputed dermatology powerhouse, delivering attractive shareholder value creation and continuing to invest for the future.”

FLEMMING ØRNSKOV, M.D., MPH
CHIEF EXECUTIVE OFFICER
GALDERMA

Following the closing of the ABO, the free float in Galderma’s shares is expected to increase from 65% to 80%.