Earnings summaries and quarterly performance for WEST PHARMACEUTICAL SERVICES.
Executive leadership at WEST PHARMACEUTICAL SERVICES.
Eric Green
Detailed
President and Chief Executive Officer
CEO
AF
Annette Favorite
Senior Vice President, Chief Human Resources Officer
BB
Bernard Birkett
Senior Vice President, Chief Financial Officer
CW
Chad Winters
Vice President, Finance & Chief Accounting Officer
KM
Kimberly MacKay
Senior Vice President, General Counsel and Corporate Secretary
SC
Shane Campbell
Senior Vice President, Chief Proprietary Segment Officer
Board of directors at WEST PHARMACEUTICAL SERVICES.
DK
Deborah Keller
Detailed
Director
DM
Douglas Michels
Detailed
Director
JH
Janet Haugen
Detailed
Director
MB
Mark Buthman
Detailed
Director
MJ
Molly Joseph
Detailed
Director
ML
Myla Lai-Goldman
Detailed
Director
PP
Paolo Pucci
Detailed
Director
RF
Robert Friel
Detailed
Lead Independent Director
SL
Stephen Lockhart
Detailed
Director
TH
Thomas Hofmann
Detailed
Director
WF
William Feehery
Detailed
Director
Research analysts who have asked questions during WEST PHARMACEUTICAL SERVICES earnings calls.
JB
Justin Bowers
Deutsche Bank AG
6 questions for WST
Also covers: AMED, CON, CRL +9 more
Michael Ryskin
Bank of America Merrill Lynch
6 questions for WST
Also covers: A, ALGN, AVTR +28 more
Paul Knight
KeyBanc Capital Markets
6 questions for WST
Also covers: A, AZTA, BLFS +13 more
ML
Matthew Larew
William Blair & Company
5 questions for WST
Also covers: AMED, ATR, DNA +10 more
Patrick Donnelly
Citi
5 questions for WST
Also covers: A, AVTR, BIO +21 more
DM
Daniel Markowitz
Evercore ISI
4 questions for WST
Also covers: RGEN, TECH
DL
Dan Leonard
UBS Group AG
3 questions for WST
Also covers: A, AVTR, BIO +9 more
DW
David Windley
Jefferies Financial Group Inc.
3 questions for WST
Also covers: CERT, CNC, CRL +14 more
Doug Schenkel
Wolfe Research LLC
3 questions for WST
Also covers: A, AVTR, BRKR +15 more
LS
Larry Solow
CJS Securities
3 questions for WST
Also covers: ARCB, BTSG, CDRE +14 more
LS
Lawrence Solow
CJS Securities, Inc.
3 questions for WST
Also covers: BTSG, CDRE, CLH +13 more
Tucker Remmers
Jefferies
3 questions for WST
Also covers: FTRE, VEEV
JJ
Jacob Johnson
Stephens Inc.
2 questions for WST
Also covers: AZTA, CDMO, CDXS +11 more
Luke Sergott
Barclays
2 questions for WST
Also covers: A, AVTR, BRKR +19 more
ME
Matt Etoch
Stephens Inc
2 questions for WST
Thomas DeBourcy
Nephron Research
2 questions for WST
Also covers: CDNA, NEOG, QTRX +2 more
Douglas Schenkel
Wolfe Research, LLC
1 question for WST
Also covers: A, AVTR, BRKR +21 more
KC
Kyle Cruise
UBS
1 question for WST
Also covers: CRL
Mac Etoch
Stephens Inc.
1 question for WST
Also covers: AZTA, CYRX, RGEN +5 more
ME
Mac Etosh
Stephens
1 question for WST
ML
Matt Larew
William Blair & Co.
1 question for WST
Also covers: AMED, MRVI, MXCT +5 more
Salem Salem
Barclays
1 question for WST
Also covers: GH, IQV, PACB +3 more
Tom DeBourcy
Nephron Research LLC
1 question for WST
Also covers: CDNA, NEOG, RGEN +2 more
Recent press releases and 8-K filings for WST.
West outlines 7–9% organic growth target and strategic priorities at J.P. Morgan
WST
Guidance Update
- West reiterated 7–9% long-term organic revenue growth and 100+ bps operating margin expansion underpinned by a mix shift toward high-value products.
- High-value product (HVP) components comprised 48% of revenue in Q3 2025 (up from 42% in 2019) and generated over 70% of gross profit, with HVP penetration expected to expand further.
- Key growth drivers include biologics & biosimilars (40% of revenue; 90% participation in new approvals), GLP-1 injectables (9% of revenue in elastomers; 8% in contract manufacturing), and Annex 1 regulatory adoption adding ~200 bps to HVP growth in 2025.
- Announced sale of the SmartDose device business (<4% of sales) to AbbVie to refocus on higher-growth HVP components, with proceeds to support organic investments and shareholder returns.
Jan 14, 2026, 5:00 PM
West Pharmaceutical outlines growth strategy and financial outlook
WST
Guidance Update
M&A
- West is a global leader in injectables with $2.9 B net sales and 19.8% adjusted operating margin in FY 2024.
- Targeting 7–9% organic revenue growth and ~100 bps annual margin expansion, driven by high-value components, biologics, GLP-1 demand, and Annex 1 regulations.
- Strong cash generation: $594 M operating cash flow and $294 M free cash flow for YTD September 2025, with CapEx normalized at 6–8% of revenues and a net cash position.
- Agreed to sell SmartDose 3.5 mL On-Body Delivery System manufacturing rights to AbbVie for $112.5 M, expected to close mid-2026.
Jan 14, 2026, 5:00 PM
West Pharma outlines growth strategy and targets at J.P. Morgan Healthcare Conference
WST
Guidance Update
- West Pharma is the global leader in injectable medicines, producing 41 billion components annually, generating c. $3 billion revenue in 2024 and touching 100 million patients daily.
- The company targets 7–9% organic revenue growth and 100+ bps operating margin expansion, driven by mix shift toward high-value product (HVP) components (48% of revenue in Q3 2025) and growth in biologics/biosimilars, GLP-1 injectables, and Annex 1 regulatory upgrades.
- HVP components grew 13.3% organically in Q3 2025, supported by new biologics launches, rising GLP-1 injectable adoption (9% of revenue), and regulatory-driven packaging upgrades in Europe.
- West remains net cash positive with strong free cash flow (up ~54% y/y for first 9 months 2025) and plans to normalize CapEx to 6–8% of sales starting 2026, prioritizing high-value investments and shareholder returns.
- The company will divest its SmartDose device business to AbbVie (<4% of sales) to redeploy resources into higher-growth segments while maintaining customer partnerships.
Jan 14, 2026, 5:00 PM
West outlines 2026 growth strategy at J.P. Morgan Healthcare Conference
WST
Guidance Update
M&A
New Projects/Investments
- West is the global leader in injectable medicines with ~$3 billion revenue in 2024, 20% operating margin, 25 manufacturing sites, and 41 billion components produced annually, touching 100 million patients daily.
- The company targets 7%–9% organic revenue growth and 100+ basis points of operating margin expansion, driven by a mixed-shift toward high-value product (HVP) components.
- HVP components comprised 48% of Q3 2025 revenues and generated >70% of gross profit (up from 42% in 2019), underpinned by biologics (40% of revenues, 90% participation in 2025 approvals), GLP-1 injectables (9% of revenues), and Annex 1 conversions adding ~200 bps in 2025.
- West will reduce CapEx to 6%–8% of sales by 2026, leverage ~60% utilization in HVP plants, maintain a net cash position, and pursue disciplined organic investments and selective M&A to deploy excess cash.
- The company agreed to sell its SmartDose platform to AbbVie (representing <4% of sales) to reallocate resources to faster-growing HVP components.
Jan 14, 2026, 5:00 PM
West Pharmaceutical Services to sell SmartDose 3.5mL rights to AbbVie
WST
M&A
- West Pharmaceutical Services has agreed to sell all manufacturing and supply rights for the SmartDose® 3.5mL On-Body Delivery System to AbbVie for $112.5 million, subject to working capital and other adjustments.
- The transaction is expected to close in mid-2026, pending customary closing conditions.
- SmartDose 3.5mL revenues accounted for approximately 4% of West’s fiscal 2025 net sales; further details will be provided on the Q4 2025 earnings call.
- West will continue to develop and manufacture other SmartDose products, including the SmartDose 10mL On-Body Delivery System.
Jan 12, 2026, 11:00 AM
West Pharmaceutical Services presents strategy at Citi Healthcare Conference
WST
New Projects/Investments
- CFO Bob McMahon emphasizes operational and margin improvements in the high-value component (HVP) business through sourcing optimization, yield improvement, automation, and footprint review.
- The GLP-1 franchise, accounting for 17% of Q3 revenues, is expected to continue volume-driven growth globally, while core ex-GLP HVP components grew mid-single digits in Q3.
- Europe’s NX1 regulatory requirement is driving a ~200 bp sales tailwind in 2025 with 375 active tech-development programs and a €6 billion parts opportunity.
- SmartDose (4% of sales) profitability is improving via shop-floor yield gains and a fully automated production line slated for Q1 2026; a strategic decision on its long-term ownership is expected ahead of 2026 guidance.
- Contract manufacturing will incur a $40 million 2H 2026 headwind from a CGM contract expiration, partially offset by a $20 million drug-handling ramp, with additional bids in progress.
Dec 2, 2025, 7:30 PM
West outlines growth drivers and margin opportunities at Citi Healthcare Conference
WST
Guidance Update
New Projects/Investments
- Management highlights margin expansion potential via enhanced analytical rigor, operational improvements and a streamlined structure with Proprietary products (80% of revenues) and Contract Manufacturing (20%).
- Drug delivery devices (14% of total sales) are guided to grow mid-single digits; the SmartDose platform (4% of sales) is on a path to improved profitability with a fully automated line coming online in Q1 2026 and a structural review decision before 2026 guidance.
- GLP-1 offerings accounted for 17% of Q3 revenues (9% from high-value components; 8% from contract manufacturing); GLP-1 growth is expected to moderate in 2026 but be offset by accelerating core HVP ex-GLP performance, which grew mid-single digits in Q3.
- Regulatory-driven NX1 programs have become a 200 bps growth tailwind in 2025 with 375 projects in development, while biologics/biosimilars benefit from a 70–75% market share and anticipated volume growth as access expands.
Dec 2, 2025, 7:30 PM
West Pharmaceutical Services highlights strong end-2025 momentum and new product launches
WST
Guidance Update
Product Launch
Revenue Acceleration/Inflection
- West exits 2025 with 48% of revenues from high-value components in Q3, growing 13% organically, and expects low- to mid-teens organic growth in Q4 as destocking abates and core demand recovers.
- GLP-1s comprised 17% of Q3 revenues (8% contract manufacturing, 9% elastomer); West has high participation in major injectables and anticipates 30% of GLP-1 volume will be oral by 2030, driving continued capacity investments.
- Annex 1 compliance offers a multi-year growth tailwind with 375 active projects, adding 200 bps to growth this year; projects typically reach full run-rate in 12–18 months.
- Announced Synchrony, an integrated prefillable syringe uniting elastomer, glass, and needle components, with commercial launch planned for Q1 2026 to streamline filings and bolster supply reliability.
- Contract manufacturing is shifting to higher-value services such as drug handling—initially $20 m of revenue ramping in Q1 2026—to replace an $80 m CGM program exit in H2 2026 and approach company margin levels.
Nov 20, 2025, 5:00 PM
West Pharmaceutical Services outlines 2025 growth momentum at Stephens conference
WST
Product Launch
Revenue Acceleration/Inflection
New Projects/Investments
- West reports improving momentum: high-value components comprised 48% of Q3 2025 revenue and grew 13% organically, with Q4 growth projected to reach low- to mid-teens.
- Demand has normalized post-destocking, supported by a refreshed S&OP process tightly linking supply planning with customer forecasts.
- GLP-1 products accounted for 17% of Q3 revenues (8% contract manufacturing; 9% elastomers), with orals expected to capture ~30% of the market by 2030.
- Annex 1 initiatives include 375 active projects, delivering 200 bps of growth and targeting a European upgrade opportunity of ~6 billion pieces.
- West plans a Q1 2026 commercial launch of Synchrony, an integrated prefillable syringe system combining elastomer, glass, and needle components to streamline regulatory filings.
Nov 20, 2025, 5:00 PM
West Pharmaceutical Services outlines Q3 2025 growth drivers and 2026 product launches
WST
Product Launch
Capacity Expansion
CFO Change
- West’s HVP business (48% of revenue) achieved 13% organic growth in Q3 2025, supported by GLP-1s, while non-GLP-1 HVPs grew mid-single digits; European labor constraints are being resolved through 2H 2025, boosting capacity into 2026.
- The company holds a 70–75% elastomer market share overall and >90% participation in biologics packaging; technology transfers to optimize capacity across US and EU plants require 12–18 months.
- The West Synchrony integrated prefilled syringe platform, combining elastomer and syringe components under a single-supplier design, will be commercially available in January 2026, simplifying customer DMF submissions.
- The SmartDose on-body device’s new automated production line is on track for early 2026, expected to double productivity and significantly improve COGS and margins exiting 2026.
- CFO Bob McMahon has strengthened the executive team since joining three months ago, with the General Counsel role as the only remaining executive vacancy.
Nov 18, 2025, 10:00 AM
Quarterly earnings call transcripts for WEST PHARMACEUTICAL SERVICES.
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