Fred Gatali

Fred Gatali, on for Michael Glenn, inquired about the diversification of the auto-injector business beyond GLP-1 drugs, the reasons for slower Life Sciences bookings in the quarter, and the timeline for improving working capital.

Answer

CFO Ryan McLeod explained that while the auto-injector business is majority GLP-1, it is diversified across 10 active customers with new drug applications being researched. He attributed the slower bookings to normal-course variability in the timing of large programs. McLeod reiterated the goal of reaching the 15% working capital target by the end of the fiscal year, with opportunities in inventory management and payment terms.

Asked about the diversification of the auto-injector business, the specific life sciences areas with slower bookings, and the timeline and drivers for improving working capital.

Answer

The auto-injector business is mostly GLP-1 related but diversified across 10 customers, with potential for new drug applications. The slower life sciences bookings were due to normal variability in the timing of large programs. The company expects to reduce working capital to its 15% target by year-end by improving inventory turns and payment terms.