GALDERMA today announced a private placement of approximately US$1 billion (A$1.5 billion) for newly issued shares, from a group consisting of current shareholders, new investors, as well as management.
The transaction is expected to close in the coming weeks.
The dermatology company will use the proceeds of the private placement to strengthen its balance sheet and to further accelerate its organic growth momentum fuelled by its unique integrated dermatology strategy.
An Initial Public Offering remains the likely next step in Galderma's "ambition to become the leading dermatology company in the world".
"With our relentless focus on commercial execution and premium positioning in high-growth, attractive markets...we are committed to advancing our differentiated innovation pipeline which includes two disruptive biologics with blockbuster potential for long-term sustainable growth," shared CEO Flemming rnskov.
Learn more HERE.
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