Galderma to Acquire ZO Skin Health for $1.5 Billion

Galderma announced an agreement to acquire ZO Skin Health for an enterprise value of $1.5 billion, a move designed to expand the company’s presence in the physician-dispensed and medical-grade skincare market. The all-cash transaction is expected to close in the fourth quarter of 2026 or early 2027, subject to regulatory approvals and customary closing conditions.

The acquisition will bring ZO Skin Health alongside Galderma’s existing dermatological skincare brands, including Cetaphil and Alastin, while expanding the company’s offerings for dermatologists, plastic surgeons, aesthetic professionals, and their patients.

Expanding Galderma’s Medical-Grade Skincare Presence

Founded by dermatologist Zein Obagi, MD, ZO Skin Health has built its portfolio around clinically backed, protocol-based skincare. The company currently offers more than 40 products and distributes through more than 16,500 physician, medical spa, and online accounts across more than 40 countries.

ZO Skin Health recorded approximately $330 million in net sales during the 12 months ending June 2026.

The company’s daily skincare regimens, including retinol- and acid-based protocols, are expected to complement Alastin’s peptide-based regenerative skincare portfolio, which is primarily positioned around pre- and post-procedure care. Galderma stated that the combination could broaden the skincare options it offers health care professionals across both daily maintenance and procedure-related care.

“This acquisition is another important step towards building the world's most innovative dermatology portfolio, strengthening our offering in an area where we already have significant capabilities,” Flemming Ørnskov, MD, MPH, chief executive officer of Galderma, said in the announcement.

Ørnskov noted that ZO Skin Health brings clinical credentials, a protocol-based approach, and an established position among dermatologists and plastic surgeons. Galderma plans to use its existing research and development, education, commercial, and global capabilities to support the brand’s future growth.

Combining Daily Skincare and Peri-Procedural Care

The acquisition further builds Galderma’s presence at the intersection of dermatology, aesthetics, and professional skincare. While ZO Skin Health emphasizes comprehensive daily regimens, Alastin has focused largely on regenerative skincare and support surrounding aesthetic procedures.

Galderma said the complementary positioning of the 2 brands could help the company better serve clinicians and patients while increasing its participation in the growing physician-dispensed skincare segment.

“ZO Skin Health has been my life's work, and I could not be prouder to see it join a company that shares our commitment to science and the providers who trust us every day,” Obagi, founder and medical director of ZO Skin Health, said in the announcement.

Galderma plans to increase commercial investment during its first year of ownership, with the goal of supporting renewed growth beginning in the second year following the transaction’s close. The company expects the acquisition to be neutral to core earnings per share in the first full year following closing.

References

1. Galderma. Galderma signs agreement to acquire ZO Skin Health, strengthening its physician-dispensed skincare offering. Published October 14, 2026. Accessed October 14, 2026. Galderma press release
2. ZO Skin Health. About ZO Skin Health. Accessed October 14, 2026. ZO Skin Health
3. Galderma. Dermatological skincare. Accessed October 14, 2026. Galderma