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) announced the expansion of its collaboration with Corning Incorporated, granting exclusive distribution rights for Corning Valor® Glass vials. The first product, West Ready Pack™ with Corning Valor® RTU Vials, uses SG EZ-fill® technology and aims to improve the packaging and delivery of injectable drugs. This collaboration, which includes a multimillion-dollar investment started in January 2022, focuses on enhancing patient safety and expanding access to healthcare. The combined system boasts benefits like proven container closure integrity and a sterile, ready-to-use design.
West Pharmaceutical Services (NYSE: WST) will release its fourth-quarter and full-year 2022 financial results on February 16, 2023, before market opening. A conference call to discuss these results will follow at 9:00 a.m. Eastern Time. Investors can access the live audio-only webcast via the Company’s Investor Relations website and participate by registering in advance. West will also attend the Barclays Global Healthcare Conference in Miami on March 14, 2023, and the KeyBanc Life Sciences & MedTech Investor Forum virtually on March 22, 2023. West, celebrating 100 years of innovation, generated $2.83 billion in net sales in FY 2021.
West Pharmaceutical Services (NYSE: WST) announced its participation at Pharmapack Europe 2023, showcasing innovations in injectable drug packaging. The company introduced three new products: West Ready Pack™ with Corning Valor® RTU Vials, Daikyo Crystal Zenith® 2.25mL Insert Needle Syringe System, and FluroTec® 5-10mL Cartridge Plunger. These innovations aim to address the demands of complex drug delivery and enhance patient safety. Additionally, West's presentations include discussions on market trends and innovations in drug delivery systems, highlighting the company's ongoing commitment to improving patient adherence and pharmaceutical solutions.
West Pharmaceutical Services, Inc. (NYSE: WST), a leader in injectable drug solutions, will present at the 41st Annual J.P. Morgan Healthcare Conference in San Francisco, CA, on January 12, 2023, at 9:00 am PST. A live audio webcast will be available on the company's website, with a replay accessible for 90 days. With nearly 10,000 employees across 50 sites, West generated $2.83 billion in net sales in 2021, providing crucial containment and delivery services for medicines worldwide. For more insights, visit www.westpharma.com.
West Pharmaceutical Services, Inc. (NYSE: WST) has declared a first-quarter 2023 dividend of $0.19 per share, payable on February 1, 2023, to shareholders of record by January 25, 2023. The company reported $2.83 billion in net sales for its fiscal year 2021, highlighting its position as a leader in injectable drug administration solutions. West will also participate in the CJS Securities 23rd Annual "New Ideas for the New Year" Conference on January 11, 2023, at 3:05 pm ET.
West Pharmaceutical Services, Inc. (NYSE: WST) announced participation in two key investor conferences. The company will present at the Jefferies London Healthcare Conference on November 15, 2022, at 3:50 PM GMT, and at the Stephens Annual Investment Conference in Nashville, TN, on November 17, 2022, at 2:00 PM CT. Live audio webcasts of both presentations will be available on the company's website, with replays accessible for 90 days post-event. West generated $2.83 billion in net sales in fiscal year 2021 and operates about 50 sites globally, employing approximately 10,000 team members.
West Pharmaceutical Services, Inc. (NYSE: WST) will participate in CPhI Worldwide in Frankfurt, Germany, on November 1, 2022. The company aims to address industry challenges in packaging and containment. Chris Ryan, VP at West, emphasized their collaboration with Corning for advanced solutions in lyophilization and closure integrity. Experts will present on elastomer formulations and container closure systems at scheduled speaking sessions. West, headquartered in Exton, Pennsylvania, reported $2.83 billion in net sales in fiscal year 2021.
West Pharmaceutical Services (WST) reported third-quarter 2022 net sales of $686.9 million, down 2.8%, with organic growth at 4.3%. Reported diluted EPS declined by 31.2% to $1.59, while adjusted diluted EPS fell 1.5% to $2.03. The company updated its full-year net sales guidance to $2.830 billion - $2.840 billion, down from $2.950 billion - $2.975 billion. A quarterly dividend of $0.19, a 5.6% increase, will be paid on November 16, 2022. The CEO anticipates 2023 organic growth exceeding 7%, despite declining COVID-related sales.
West Pharmaceutical Services (NYSE: WST) announced its participation in the 2022 PDA Universe of Pre-Filled Syringes and Injection Devices Conference on October 18, 2022. The company aims to showcase its expertise in drug delivery innovation, focusing on challenges in packaging and containment. Cindy Reiss-Clark, Chief Commercial Officer, highlighted the importance of evolving healthcare needs and technological advancements. West will present several technical sessions, including topics on customized injection profiles and sustainable device selection. In fiscal year 2021, West generated $2.83 billion in net sales.
West Pharmaceutical Services (NYSE: WST) will announce its third-quarter 2022 financial results before market opens on October 27, 2022. Following the announcement, a conference call will be held at 9:00 a.m. Eastern Time to discuss the results and future business expectations. The live audio webcast will be available on the company's Investor Relations website. Interested participants can register in advance to ask questions during the call. A replay will be accessible for 30 days post-event.
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