Mumbai, Sept. 18: Galderma, a 50:50 joint venture between Nestle S.A and L’Oréal of France, is looking at acquisition possibilities in India apart from enhanced product offerings to enhance its presence in the dermatology segment. The venture, fifth among dermatology companies worldwide, with annual sales of over euro 584 million is also planning brand launches in psoraisis, onychomycosis and pigmentary disorders over the next few months.
This is set to transform the company into a Rs 50 crore entity over the next three years from a present turnover of Rs 15 crore after nearly four years of operating here in the country, K Hariram, country manager, Galderma India told The Telegraph.
“Our aim is to be the largest player in the dermatology segment by bringing in more international brands to India and thus capitalising on the strong R&D investment of our parent, which is to the tune of 14 per cent of its revenues. If there are any good specialised dermatology brands, we will look at acquisition as an opportunity,” he added. In the anti-acne segment, the venture is optimistic about the success of retionoids.
Galderma's parent company is based in Switzerland, with corporate services located in Paris. The venture employs over 2000 people in 34 fully-owned subsidiaries worldwide. It has a well-established presence in North America, Western Europe and Latin America. Over the past few years, the company has also reached markets in Asia, Australia and Africa through both subsidiaries and exclusive agents.
The venture’s three facilities devoted to research into new molecules and their international development are situated in Sophia Antipolis, France, Princeton, the US and Tokyo.