West Pharmaceutical Services Inc WST

West Pharmaceutical's Long-Term Growth Intact, but Margin Expansion Less Uncertain

West Pharmaceutical Services is the global market leader in primary packaging and delivery components for injectable therapeutics. Primary packaging has direct contact with the drug product and must be manufactured to ensure stability, purity, and sterility of the drug product in accordance with strict regulatory standards. Because of the mission-critical nature of these components, it is important for customers to trust the quality of manufacturing and design. Key product lines include elastomer components such as stoppers, seals, and plungers, Daikyo Crystal Zenith vials made out of polymer instead of glass, and auto-injectors. Injectables include not only older modalities like small-molecule drugs, insulin, and vaccines but also biologics and GLP-1 obesity drugs.