West Pharmaceutical Services, Inc. · NYSE:WST
West Pharmaceutical Services — UBS 20th Annual Global Healthcare Conference (February 2010)
16 slides from West Pharmaceutical Services's conference presentation, Feb 9, 2010
Slide 1: UBS 20th Annual Global Healthcare Conference
William J. Federici Vice President and Chief Financial Officer Investor Relations Contact: Michael A. Anderson Vice President and Treasurer mike.anderson@westpharma.com UBS 20 th Annual Global Healthcare Conference New York, New York February 9, 2010 NYSE: WST westpharma.com All trademarks and regis
Slide 2: Forward Looking Statements
This presentation contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on management’s beliefs and assumptions, current expectations, estimates and forecast
Slide 3: Corporate Profile
Devices Proprietary Products Corporate Profile • Founded in 1923 • Leading global supplier of components and systems for injectable drug delivery – Vial closure systems – Prefillable syringe components – Components for diagnostics – Devices and device sub- assemblies – Safety and administration syst
Slide 4: 2009 in Retrospect
• Challenges: – Adverse effects of pension expense, currency effects – Recession impacted customer behavior/order patterns • Tighter cost, working capital and inventory management • Some major programs delayed or cancelled – Slowed growth coming into 2009 continued through Q2 • Q3 revenues grew by 4
Slide 5: Long Term Business Drivers
West supplies sophisticated packaging systems for the top 20 biologic drugs (by sales) currently on the market. Long Term Business Drivers • Demographics • Growth in Biologics & Vaccines • Requirement for easy, safe, accurate dosing • Combination product growth • Generic growth • Increasing global a
Slide 6: Therapeutic Category Drivers
Category Key Customers Projected Growth Diabetes 8 - 10% Oncology 6 - 8% Vaccines 4 - 6% Autoimmune 6 - 8% Therapeutic Category Drivers
Slide 7: 2010 Outlook
• Global economic conditions remain soft, but show signs of improvement • Uncertainty over pending US healthcare legislation • Global pharma revenue growth projected to be 4-6% (per IMS) • North America growth projected at 4.5 - 5.5% • Europe growth moderate 2-4% • Emerging economies should grow > 1
Slide 8: Business Unit Re-alignment
Packaging Systems (How drugs are contained) Primary Container Solutions Delivery Systems (How drugs are administered) Administration Systems Business Unit Re-alignment • Safety systems (NovaGuard, Eris) • Reconstitution systems - MediMop • CZ prefillable syringe systems • Advanced Injection Systems
Slide 9: Consolidated 2014 Planning Objectives
Packaging Systems (How drugs are contained) Primary Container Solutions Delivery Systems (How drugs are administered) Administration Systems Consolidated 2014 Planning Objectives Five-Year Growth Opportunity $2 billion combined markets for safety, prefilled and auto-injectors, with unit growth 6-12%
Slide 10: West's Competitive Advantages
West’s Competitive Advantages: Unmatched expertise in drug - material interactions Market leader in packaging for biologics Protected IP: Proprietary materials and processing technology - Drug Master File (DMF) 1546 Regulatory barriers to entry: US NDAs and ANDAs require proof of stability Global te
Slide 11: Revenue and Margin Opportunity
Revenue and Margin Opportunity Disposable Device Components Standard Components Consumer Products Value Proposition PROPRIETARY PRODUCTS Disposable Device Components Westar® RS Mix2Vial ® NovaGuard ™ éris ™ Westar® RU Standard Components Consumer Products Packaging Delivery
Slide 12: Our Growth Strategy
Packaging Systems (How drugs are contained) Primary Container Solutions Delivery Systems (How drugs are administered) Administration Systems Our Growth Strategy • Concentrate on systems for unmet market needs • Build market share in multi- component systems for drug administration utilizing Daikyo C
Slide 13: Delivery Systems - Key Programs
Delivery Systems - Key Programs Vial2Bag™ Mix2Vial ® MixJect ® NovaGuard ™ Safety Needle Device (luer-lock syringe) ConfiDose ® Auto-injector Daikyo Crystal Zenith ® éris ™ Safety Needle Device (fixed-needle syringe)
Slide 14: Management Focus
Management Focus • Packaging Systems Segment – Organic growth (on average) of 3-5% per year – Margin expansion through improved operating efficiency – Positive mix with increasing biologic product sales – Capital investments targeted at enhanced quality and value • Delivery Systems Segment – Deliver
Slide 15: Summary
Summary • A valuable franchise – Substantial market share – Proprietary technology – Diversified Customer Base – Global footprint • Positioned to grow – Strength in new product pipeline – Preferred products for biologics • With the financial strength to invest – Reliable operating cash flow – Balanc
Slide 16: William J. Federici
William J. Federici Vice President and Chief Financial Officer Investor Relations Contact: Michael A. Anderson Vice President and Treasurer mike.anderson@westpharma.com UBS 20 th Annual Global Healthcare Conference New York, New York February 9, 2010 NYSE: WST westpharma.com All trademarks and regis
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