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Baby boomers and users of weight-loss drugs suffering from “facial sagging” are flocking to injectable aesthetic treatments and boosting sales, according to dermatology group Galderma.

The Swiss company, which was transferred from Nestlé in 2019 and was published last yearhas seen its share price rise as the popularity of products designed to smooth wrinkles and improve facial features.

“I think there’s an amazing change in what older people look like,” said chief executive Flemming Ørnskov in an interview with the Financial Times, nodding to the fact that many people are live healthier lives longer.

The company has seen a “significant increase” in consumers aged 60-plus opting for aesthetic treatments. “People live another 10 to 15 years and they want to see how they feel, not how they look physically if they haven’t taken care of themselves,” added Ørnskov.

Galderma is the world’s second largest player in the $9bn market for neuromodulator injections and fillers after US firm AbbVie. The former are threads that relax facial muscles to reduce wrinkles, and the latter, gel-like injections that are used to make the skin look plumper.

Weight-loss drugs like Ozempic are also an important sales driver, Ørnskov said, with many dermatologists reporting that patients are seeking treatment for the so-called “Ozempic face” in regions where there is a higher penetration of drugs using GLP-1 as. such as the Middle East and North America.

“If they lose eight to 10 kilos or more, they start to show facial sagging,” said Ørnskov. “There, people have to use a filler.”

Galderma’s most popular filler for weight loss drug users is a product called Sculptra, which was originally developed for HIV patients experiencing rapid weight loss, he added.

In its initial public offering in March last year, Galderma raised approximately SFr2.3bn ($2.7bn) at a price of SFr53 a share. The company’s shares have more than doubled to SFr108.50 a share.

Galderma’s net sales grew 9.2 per cent to $3.2bn in the nine months to September 2024, driven by its two biggest divisions, dermatological skincare – which includes everyday skincare brands such as Cetaphil – and aesthetic injectables. The third division of prescription treatment, was behind, with an increase in sales of 2.9 percent in the period.

Sales in the US, which make up 40 percent of the total group, grew 2.5 percent in the first three quarters, compared to 14.5 percent in the rest of the world as a result of reduced consumer demand in the market.

The company hopes to boost US sales with the launch of its new product, Nemluvio, which treats atopic dermatitis, and recently received approval from the US Food and Drug Administration. About 7 percent of people in the US suffer from eczema, the company said.

Despite the slowdown in the US, Galderma said it has begun to close the gap with its main competitor in the injectables category, AbbVie, which invented the famous Botox brand and holds the leading market position in category.

According to Jefferies analysts, AbbVie’s Botox and Galderma’s Dysport are the leading neuromodulators with Dysport used in 80 percent of US doctors’ practices compared to 20 percent of Botox.

Galderma says Sculptra is now the second largest filler brand in the US. It recently launched a new filler specifically designed for people who want to look like they have better bone structure, for example men who want the look of a firmer- on that jaw.

The Swiss group was formed in 2019 when Nestlé sold its skin health division to an investor consortium led by private equity firm EQT for $10bn, after the food giant concluded it did not fit its core nutrition-focused portfolio.

Nestlé previously ran the skincare unit as a joint venture with L’Oréal but took full control in 2014, in exchange for its €2.6bn stake in the French cosmetics group.

In August L’Oréal regained 10 percent stake in the company. Analysts say the move reflects a renewed interest in the aesthetics injectables category, which outperforms other consumer categories.