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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, Inc. (WST) reported first-quarter 2022 net sales of $720 million, reflecting a 7.4% increase, with organic growth of 11%. Diluted EPS rose to $2.29, up 15.1%. The company reaffirmed its full-year net sales guidance of $3.050 billion to $3.075 billion and raised adjusted-diluted EPS guidance to $9.30 to $9.45. Additionally, a dividend of $0.18 per share will be paid on August 3, 2022. The Proprietary Products Segment grew 10.6%, while Contract-Manufactured Products saw a 6.6% decline.
West Pharmaceutical Services (NYSE: WST) will release its first-quarter 2022 financial results on April 28, 2022, before market opening. The company will conduct a conference call at 9:00 a.m. Eastern Time to discuss these results and business expectations. Interested participants can dial 877-930-8295 (U.S.) or 253-336-8738 (International) using conference ID 6690124. A live broadcast will be available on West's website, along with a slide presentation. An online archive of the call will be accessible three hours post-event until May 5, 2022.
Pneuma Systems Corporation has partnered with West Pharmaceutical Services (NYSE: WST) to enhance drug therapy patient experiences. This collaboration aims to develop drug delivery solutions utilizing Pneuma's innovative closed-loop fluid flow control platform, with West providing technical and financial support. The intravenous pump market, projected to reach USD 20.5 billion in five years, underscores the significance of this partnership. The collaboration emphasizes improvements in workflow and patient safety, as West integrates PneumaDrive™ technology into various healthcare settings.
West Pharmaceutical Services, Inc. (NYSE: WST) announced that its team members received prestigious awards at the 2022 PDA Annual Meeting in Dallas. Liang Fang and Marissa Rase were honored with the 2021 Fred Simon Award for their paper on excipient-container interactions affecting prefilled syringes. Additionally, Chief Scientific Officer Fran DeGrazio received the 2021 Edward Smith Packaging Science Award for significant contributions to pharmaceutical packaging. West continues to highlight its commitment to innovation and safety in injectable drug administration.
West Pharmaceutical Services (NYSE: WST) will participate in the 2022 PDA Annual Meeting in Exton, Pennsylvania, on April 4-6, 2022. The company plans to showcase advancements in packaging science through keynote presentations, moderated sessions, and scientific posters.
Key highlights include a presentation on a Closed-Loop Wearable Injector System for Naloxone and various poster sessions focusing on vial container closure systems and prefilled syringes. With $2.83 billion in net sales for 2021, West emphasizes its leadership in ensuring quality and stability in injectable drug products.
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West Pharmaceutical Services (NYSE: WST) has announced its participation in the KeyBanc Capital Markets Life Sciences & MedTech Investor Forum on March 23, 2022, at 9:00 a.m. EDT. The virtual event will feature a live audio webcast available in the 'Investors' section of its website. West specializes in high-quality injectable drug administration solutions, generating $2.83 billion in net sales in fiscal year 2021, with a workforce of approximately 10,000 across 50 sites worldwide.
West Pharmaceutical Services (NYSE: WST) has announced that Eric M. Green, the current President and CEO, will also serve as Chair of the Board starting May 24, 2022. He succeeds Patrick Zenner, who is retiring after 20 years. The company highlights Green's successful leadership during the pandemic and his focus on innovative, high-quality products. Additionally, Paolo Pucci has been appointed as the Lead Independent Director of the Board. West generated $2.83 billion in net sales in FY 2021 and employs about 10,000 team members globally.
West Pharmaceutical Services, Inc. (NYSE: WST) has declared a second-quarter 2022 dividend of $0.18 per share, payable on May 4, 2022, to shareholders on record as of April 20, 2022. The company, a leader in innovative injectable solutions, reported $2.83 billion in net sales for fiscal year 2021 and employs approximately 10,000 people across 50 sites globally. West continues to support the effective delivery of life-saving medicines, enhancing shareholder value through consistent dividends.
West Pharmaceutical Services reported its fourth-quarter and full-year 2021 financial results, showcasing significant growth. Q4 net sales reached $730.8 million, a 26% increase, with organic growth at 28.3%. Full-year sales totaled $2.832 billion, up 31.9%. Reported diluted EPS for Q4 was $1.93, a 49.6% rise, and $8.67 for the year, up 89.7%. The company projects 2022 net sales between $3.050 billion and $3.075 billion, with diluted EPS expected between $9.20 and $9.35. They noted strong demand in their Proprietary Products segment and plans for future growth.
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