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) 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.
West Pharmaceutical Services (NYSE: WST) has introduced Daikyo Crystal Zenith® (CZ) Nested Vials at the International Society for Cell and Gene Therapy Annual Meeting in Vancouver, Canada from May 29-June 1, 2024.
Designed to meet ISO 8362-1 standards, the vials are compatible with a range of aseptic fill-finish equipment. They offer features such as break resistance, low particulate specification, and low risk of chemical interaction.
Available in 2mL and 10mL sizes, the vials come with flexible closure options and are suitable for storing gene therapy drugs from preclinical to commercial phases. Chief Commercial Officer Cindy Reiss-Clark stated that this product expands CZ's platform for flexible filling solutions of sensitive molecules.
West Pharmaceutical Services (NYSE: WST) announced its participation in the William Blair 44th Annual Growth Stock Conference in Chicago, IL, on June 4, 2024, at 8:00 AM CT. The event will feature a live audio webcast available on the company's website, www.westpharma.com, in the 'Investors' section. The webcast replay will be accessible for 90 days post-event.
West Pharmaceutical Services, Inc. (NYSE: WST) will participate in the Bank of America Securities Healthcare Conference in Las Vegas, NV on May 14, 2024. The company will present at 11:20 AM PT and offer a live audio webcast on their website. Investors can access the webcast on www.westpharma.com.
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