Perhaps a touch too obsessed with this one. Chomping at the bit since before the IPO and it has been a winner. Consider this, the bright spot at Estée Lauder - that's their focus, skincare.
Galderma has three silos, injectable aesthetics, dermatological skincare, and therapeutic dermatology.. what really excites me is the step change that the biopharma side can add to the revenue matrix.
Just over 90 days post IPO, unsure if lock-up is over or if we're talking something circa 180 which is September-ish. Regardless, I'd expect more shares to be coming - which could actually just help (depending on the markets mood when this happens of course).
Definitely on the 'not cheap' side and I do wonder if the growth will vary more than generalists are used to, with the biotech/pharma side.
Which means needing to dig in further for that risk and likely a SOTP valuation.
This is getting pushed out, brief as it may be, because my attention has been pulled afield by Nestlé.
br. -john
p.s. linkage (proper financials until we get a real release, quarterly doesn't count, are via a prospectus you must request - which is geofenced)
Comments