Welcome to our dedicated page for West Pharmaceutical Services news (Ticker: WST), a resource for investors and traders seeking the latest updates and insights on West Pharmaceutical Services stock.
West Pharmaceutical Services, Inc. (NYSE: WST) is a global leader in the design and manufacturing of innovative solutions for injectable drug administration systems. Headquartered in Exton, Pennsylvania, West collaborates closely with healthcare partners from concept to patient delivery, ensuring efficiency, reliability, and safety in packaging and delivery systems. The company operates through two main segments: Proprietary Products and Contract-Manufactured Products. Proprietary Products, contributing approximately 80% of total revenue, include elastomer-based packaging components such as stoppers, seals, and plungers, as well as non-glass containment solutions and auto-injectors for injectable drugs. The Contract-Manufactured Products segment, accounting for the remaining 20%, focuses on manufacturing components for drug-injection devices and healthcare diagnostic devices.
West's commitment to cutting-edge technology, quality systems, and global regulatory compliance has positioned it as a key supplier to the pharmaceutical, biotechnology, and generic drug industries. The company supports its customers through sales, manufacturing, and research and development locations across North and South America, Europe, Asia, and Australia.
In recent financial results, West reported a solid performance despite the expected decline in COVID-19 related sales. The second-quarter and third-quarter 2023 showed a decline in net sales for Proprietary Products primarily due to reduced pandemic-related demand. However, the Contract-Manufactured Products segment demonstrated strong growth, with net sales increasing significantly. For the full-year 2023, West experienced challenges with headwinds from lower pandemic-related sales but saw gains in high-value product components and devices, as well as contract manufacturing.
West continues to innovate, recently expanding its administration systems portfolio with the FDA-cleared Vial2Bag Advanced® 13mm admixture device, enhancing drug preparation and delivery options at the point-of-care. As the company celebrates its 100-year milestone, it remains focused on meeting customer demand and investing in high-value products and manufacturing capacity to fuel future growth.
For more detailed information about West's latest financial performance and strategic initiatives, visit the company's official website.
West Pharmaceutical Services (NYSE: WST) has appointed Janet Haugen to its Board of Directors, expanding the board to 12 members. Haugen, 66, brings extensive financial and technological expertise from her previous role as Chief Financial Officer at Unisys , where she served for over 16 years. During her tenure, she led the company's transformation from a hardware-focused business to an IT services provider. Prior to Unisys, Haugen was a partner at Ernst & Young working with Fortune 500 companies. She currently serves on the boards of Bentley Systems, Juniper Networks, and CentralSquare Technologies. Haugen holds an Economics degree from Rutgers University and is a certified director of the National Association of Corporate Directors.
West Pharmaceutical Services (NYSE: WST) has announced its participation in three upcoming investor conferences in November 2024. The company will present at the UBS Global Healthcare Conference in California on November 12 at 3:30 PM PST, the Jefferies Healthcare Conference in London on November 19 at 1:00 PM GMT, and the Stephens Annual Investment Conference in Nashville on November 21 at 10:00 AM CST.
Live audio webcasts will be available on the company's website investor section, with replays accessible for approximately 90 days following each event.
West Pharmaceutical Services (NYSE: WST) reported third-quarter 2024 results with net sales of $746.9 million, showing a slight decline of 0.1%. The company's reported-diluted EPS was $1.85, down from $2.14 in the same period last year. Due to favorable currency movements, WST increased its full-year 2024 guidance, with net sales now expected between $2.875-2.905 billion and adjusted-diluted EPS range of $6.55-6.75. The Board approved a fourth-quarter dividend of $0.21 per share, marking the thirty-second consecutive annual increase. The Proprietary Products segment saw a 0.2% decline, while Contract-Manufactured Products grew by 0.4%.
West Pharmaceutical Services (NYSE: WST) announced its participation in the 2024 PDA Universe of Pre-Filled Syringes and Injection Devices Conference in Phoenix, AZ. The company will showcase its expertise on industry challenges and trends in packaging and containment for injectable drugs.
Atul Patel, VP of Delivery Devices at West, highlighted the growing importance of injectables in the biologic drug segment and the need for adapting drug delivery packaging and devices. West will share insights through various posters and a presentation on leveraging primary container and device platforms to reduce risk and accelerate time-to-market for combination products.
The event features a speaking session by Gurmeet Singh on Enabling High-Volume Drug Delivery with a Platform Approach. Additionally, West will present posters on topics such as pre-filled syringe system performance at low temperatures, container closure integrity testing, vial adapter transfer devices, and visual impairment affordances in drug delivery systems.
West Pharmaceutical Services (NYSE: WST) has announced its upcoming third-quarter 2024 financial results release and conference call. The company, a global leader in injectable drug administration solutions, will disclose its results before the market opens on Thursday, October 24, 2024. This will be followed by a conference call at 9:00 a.m. Eastern Time to discuss the results and business expectations.
Interested parties can access the live webcast through the company's Investor Relations website. To participate in the Q&A session, attendees must register in advance to receive dial-in information and a unique PIN. A slide presentation will be available on the day of the call in the Investors section of West's website. For those unable to attend live, a replay of the conference call and webcast will be accessible on the company's website for approximately 90 days after the event.
West Pharmaceutical Services, Inc. (NYSE: WST) has been awarded the Heart of Pharma Award at the 2024 CPHI Awards for its partnership with Fox Chase Cancer Center. The award recognizes philanthropic, ethical, and community-based ventures. West has been a philanthropic partner of Fox Chase for over 20 years and pledged support for a next-generation mobile screening unit in 2021.
The new state-of-the-art mobile screening unit, sponsored by West, will provide services later this year, offering:
- Screening for more types of cancer
- 3D mammography
- Vaccine distribution
- Phlebotomy
- Collection of biospecimens and population data for cancer research
This initiative aims to increase access to cancer screenings in communities with healthcare access, demonstrating West's commitment to improving health and wellness in the communities they serve.
West Pharmaceutical Services (NYSE: WST) announced its participation at CPHI Worldwide in Milan, Italy, showcasing its leadership in packaging and containment solutions for injectable drug administration. The company will present on Contamination Control Strategy in Primary Packaging as part of EU GMP Annex 1 revisions, highlighting the critical role of quality control in drug manufacturing.
West is also a finalist for a CPHI Award in the 'Heart of Pharma' category for its partnership with Fox Chase Cancer Center, recognizing philanthropic and community-based initiatives. The awards ceremony will take place on October 8, the opening night of CPHI.
Cindy Reiss-Clark, Chief Commercial Officer at West, emphasized the importance of third-party suppliers' quality control in maintaining a robust contamination control strategy for drug manufacturers.
West Pharmaceutical Services (NYSE: WST) announced its participation in the Bank of America Global Healthcare Conference in London, UK. The event is scheduled for September 18, 2024, at 9:55 AM BST. As a global leader in injectable drug administration solutions, West's presentation at this conference is significant for investors and industry watchers.
The company will provide a live audio webcast of the event, accessible through the 'Investors' section of West's official website. For those unable to attend or watch live, a replay will be available for approximately 90 days after the event. This presentation offers an opportunity for stakeholders to gain insights into West's current operations, future strategies, and position in the healthcare industry.
West Pharmaceutical Services (NYSE: WST) reported Q2 2024 results with net sales of $702.1 million, down 6.9% year-over-year. Reported-diluted EPS was $1.51, compared to $2.06 in Q2 2023. The company updated its full-year 2024 guidance, lowering net sales expectations to $2.870-$2.900 billion from $3.000-$3.025 billion, and adjusted-diluted EPS to $6.35-$6.65 from $7.63-$7.88.
The Proprietary Products segment saw a 9.4% decline in net sales to $559.7 million, while the Contract-Manufactured Products segment grew by 4.9% to $142.4 million. Despite current challenges, management expects stronger revenues in the second half of 2024 and a return to organic growth in Q4 2024.
West Pharmaceutical Services (NYSE: WST) will release its second-quarter 2024 financial results on July 25, 2024, before the market opens. A conference call is scheduled for the same day at 9:00 a.m. Eastern Time to discuss the results and business outlook. Interested participants must register in advance to receive the dial-in number and unique PIN for the call. The call will be accompanied by a slide presentation available on the company's website. A live audio webcast and subsequent replay will also be accessible in the 'Investors' section of the website, with the replay available for 30 days post-event.
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