Cosmetic and beauty company L’Oreal has announced the acquisition of a 10% stake in pharmaceutical company Galderma.
In addition to the acquisition, L’Oreal and Galderma have agreed to collaborate on a strategic scientific partnership, leveraging Galderma’s expertise in dermatological solutions and L’Oreal’s skin biology and diagnostic capabilities.
Nicolas Hieronimus, chief executive officer of L’Oreal, commented, “I am very pleased to announce this strategic investment and partnership with Galderma. It marks an ambitious step for L’Oreal, and true to our mantra of ‘seize what is starting’, it allows us to explore partnering in the fast-growing aesthetics market, a key adjacency to our pure beauty play.”
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