Galderma Agrees to Buy ZO Skin Health From Blackstone

Galderma has signed an agreement to acquire ZO Skin Health, adding a second premium dermocosmetics brand to a portfolio built mainly around injectables and prescription skincare. The Swiss company disclosed the deal through a statement covered by BeautyBiz, which reported that ZO Skin Health generated net sales of roughly 330 million dollars in the twelve months ended June 2026.

ZO Skin Health was founded by Dr. Zein Obagi, a dermatologist who built his reputation on clinical skin treatment protocols sold through physician offices and medical spas rather than mass retail. That distribution model, heavy on practitioner relationships and professional-grade formulations, is the asset Galderma is paying to absorb.

The seller is Blackstone Tactical Opportunities, the private equity arm that has held ZO Skin Health as part of its growth portfolio. For Blackstone, the sale marks an exit from a brand it backed at a moment when physician-dispensed skincare was drawing fresh investor interest for its pricing power and recurring patient demand.

Galderma's chief executive, Flemming Ørnskov, has spent recent years steering the company away from a single reliance on its Restylane and Dysport injectables toward a broader aesthetics and dermatology platform. Buying ZO Skin Health extends that strategy into the clinical skincare channel, where Galderma already competes through its Cetaphil and Alastin lines but has lacked a brand with ZO's depth in physician networks.

ZO Skin Health's own leadership, under chief executive Shary Moalemzadeh, has grown the company's sales to the 330 million dollar mark largely through international expansion and new product launches aimed at practitioners managing acne, pigmentation and post-procedure skin recovery. That revenue base gives Galderma an immediate, cash-generating complement to its existing dermatology unit rather than a turnaround project.

Neither company disclosed the purchase price or the expected closing date in the materials reviewed. The transaction still requires standard regulatory clearances, a process that typically takes several months for deals of this size in the dermatology and consumer health space.

What is clear from the disclosed figures is the scale Galderma is buying into: a 330 million dollar sales base built on a professional, prescription-adjacent channel that differs from the pharmacy and e-commerce routes most of its skincare rivals favor.