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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, a leader in injectable drug administration, will announce its fourth-quarter and full-year 2021 financial results on February 17, 2022, before the market opens. A conference call to discuss these results is scheduled for 9:00 a.m. ET on the same day. Participants can join by calling 877-930-8295 (U.S.) or 253-336-8738 (International), using conference ID 1986145. An archive of the call will be available for review until February 24, 2022. For more information, visit www.westpharma.com.
West Pharmaceutical Services (WST) has entered an exclusive supply and technology agreement with Corning (GLW) to enhance injectable drug delivery systems. This multimillion-dollar partnership seeks to expand Corning’s Valor® Glass technology, promoting advanced packaging solutions for the pharmaceutical industry aimed at improving patient safety and access to treatments. The collaboration combines West’s NovaPure® components with Corning’s Valor Glass, optimizing manufacturing processes and regulatory navigation for biopharma producers.
West Pharmaceutical Services (WST) announced a $0.18 per share dividend for Q1 2022, payable on February 2, 2022, to shareholders on record by January 19, 2022. Additionally, the company's Board of Directors approved a share repurchase program for 2022, allowing the buyback of up to 650,000 shares. This program aims to enhance shareholder value and is expected to conclude by December 31, 2022, following the expiration of a previous buyback.
West Pharmaceutical Services (NYSE: WST) announced its participation in the 40th Annual J.P. Morgan Healthcare Conference on January 10, 2022, at 11:15 a.m. EST. The event will be held virtually, allowing investors to access a live audio webcast in the "Investors" section of the company's website. West is a leader in injectable drug solutions, generating over $2.15 billion in sales during fiscal year 2020. With nearly 10,000 employees across 50 sites, West provides over 40 billion components and devices annually.
West Pharmaceutical Services (NYSE: WST) will participate in the Jefferies London Healthcare Conference from November 16-18, 2021, with a Fireside Chat on November 16, 2021, at 5:40 p.m. GMT. The company will also attend the Stephens Investment Conference in Nashville, TN, from December 1-3, 2021, featuring a Fireside Chat on December 3, 2021, at 11:00 a.m. CST. Webcasts for both events will be available on the company's website, with replays accessible for 90 days. West, a leader in injectable solutions, generated over $2.15 billion in sales in FY 2020.
West Pharmaceutical Services reported a strong Q3 2021, with net sales of $706.5 million, a 28.9% increase year-over-year. Reported diluted EPS rose 112% to $2.31. The company raised its full-year net sales guidance to $2.800-$2.810 billion and adjusted diluted EPS guidance to $8.40-$8.50. A quarterly dividend of $0.18 per share was approved, reflecting a 5.9% increase. Sales growth was driven by proprietary products, particularly from the High-Value Product portfolio.
West Pharmaceutical Services announced the launch of its DeltaCube™ Modeling Platform and NovaGuard® SA Pro Safety System for 0.5mL Standard Glass Syringes at Interphex from October 19-21 in New York. The DeltaCube™ platform aids in vial integrity modeling, enhancing decision-making in container closure systems. The NovaGuard® SA Pro system expands product offerings for pre-filled syringes, addressing safety with innovative features to protect against needlestick injuries. This initiative reflects a strategic response to market demands for safer and more efficient drug delivery solutions.
West Pharmaceutical Services (NYSE: WST) will announce third-quarter 2021 financial results on October 28, 2021, before market opening. A conference call will take place at 9:00 a.m. Eastern Time to discuss the results and future business outlook. Interested participants can join by calling 877-930-8295 (U.S.) or 253-336-8738 (International) with conference ID 5587559. The event will be streamed live on the company's website, with an archived version available afterward until November 4, 2021.
West Pharmaceutical Services (NYSE: WST) has appointed Molly Joseph to its Board of Directors, expanding the board to 11 members. Joseph, 47, previously served as CEO of UnitedHealthcare Group for over a decade, where she led the development of a significant global health business. Her experience includes oversight of extensive medical facilities and strategic corporate development. With her extensive healthcare and board experience, the company anticipates that her expertise will enhance its mission in delivering healthcare solutions worldwide.
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