UBS upgrades Galderma to 'buy' citing outperformance in Nemluvio, fillers

Galderma AG

25/11/2025 11:11

** UBS upgrades Swiss dermatology firm Galderma GALD.S to "buy" from "neutral," as it notes the firm's Nemluvio and Filler & Biostimulators have significantly beaten the brokerage's estimates in the last few quarters

** "Nemluvio launch continues to exceed expectations and we raise our risk adjusted peak sales to $3.5bn" - UBS

** UBS also increases 2025-2029 EPS 15% on average

** Shares rise around 3% and are among best performers on Europe's STOXX 600 .STOXX

 (Reporting by Paolo Laudani in Gdansk)

 ((Paolo.laudani@thomsonreuters.com))