Galderma has signed an agreement to acquire ZO® Skin Health for $1.5 billion, expanding its presence in the physician-dispensed skincare market. The brand generated approximately $330 million in net sales in the 12 months to June 2026 and reaches more than 16,500 physician, medical spa and online accounts across over 40 countries.
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Founded by dermatologist Dr. Zein Obagi, ZO Skin Health offers more than 40 products built around structured daily skincare regimens, including retinol- and acid-based protocols. Its portfolio complements Alastin, Galderma’s peptide-based regenerative skincare brand focused primarily on pre- and post-procedure care.
The acquisition strengthens Galderma’s broader dermatology offering alongside Cetaphil and Alastin, connecting daily skincare regimens with products designed for procedure-related needs. Galderma plans to invest further in ZO Skin Health’s commercial reach and innovation, with renewed growth targeted from the second year of ownership.
The all-cash transaction is expected to close in Q4 2026 or early 2027, subject to regulatory approvals. Galderma expects the acquisition to be neutral to core earnings per share in the first full year following closing, as it leverages its global scale and commercial infrastructure to support ZO Skin Health’s next phase of growth.
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