West Pharmaceutical Services, Inc. · NYSE:WST
West Pharmaceutical Services — 2024 William Blair 44th Annual Growth Stock Conference
22 slides from West Pharmaceutical Services's conference presentation, Jul 11, 2024
Slide 1: West Pharmaceutical Services, Inc.
West Pharmaceutical Services, Inc. Eric M. Green President, CEO and Chair of the Board 2024 – William Blair 44th Annual Growth Stock Conference
Slide 2: Safe Harbor Statement
Cautionary Statement Under the Private Non-U.S. GAAP Financial Measures Securities Litigation Reform Act of 1995 Certain financial measures included in these presentation materials, or which may be referred This presentation and any accompanying to in management’s discussion of the Company’s managem
Slide 3: We serve to improve patient lives.
OUR PURPOSE We serve to improve patient lives. OUR MISSION OUR VISION — ENTERPRISE STRATEGIC PLAN — MAKING AN IMPACT EXECUTE | INNOVATE | GROW TO OUR We contain and deliver To be the world leader STAKEHOLDERS injectable therapies that in the integrated improve patient lives. containment and delivery
Slide 4: By Your Side for a Healthier World
By Your Side for a Healthier World 100 31 25 year history of consecutive years of annual manufacturing sites Growth & Innovation increase in the company’s dividend More than Expansions at our $4.3 Million 10,000+ manufacturing sites team members committed will result in in corporate, foundation and
Slide 5: A Growing Business Well-Positioned for Success
A Growing Business Well-Positioned for Success Net Sales* by Net Sales* by Net Sales* by GEOGRAPHY PRODUCT CATEGORY MARKET GROUP 9% 19% 19% 10% 37% 45% 50% 24% 46% 21% 20% Americas High-Value Product Components Biologics PROPRIETARY PROPRIETARY PRODUCTS PRODUCTS Europe, Middle East, Africa Standard
Slide 6: Q1 2024 Financial Results and 2024 Full-Year Financial Guidance
Q1 2024 Financial Results and 2024 Full-Year Financial Guidance (as provided on April 25, 2024) • First quarter 2024 net sales of $695.4 million declined 3.0%; organic net sales also declined by 3.0% • First quarter 2024 reported-diluted EPS of $1.55 declined 16.2%; adjusted-diluted EPS of $1.56 dec
Slide 7: Our Market-Led Journey is Generating Success and Positions Us Well for the Future
Our Market-Led Journey is Generating Success and Positions Us Well for the Future COMMERCIAL & PRODUCT MANAGEMENT Customer-facing market units in Proprietary Products segment and Contract Manufacturing that focus on providing products to healthcare companies from concept to patient R&D AND TECHNICAL
Slide 8: Market-Led: Meeting the Changing Needs in the Market
Market-Led: Meeting the Changing Needs in the Market Taking a customer-centric approach to addressing customer segment needs Biologics Generics Pharma Contract Manufacturing Packaging solutions for sensitive Manufacturing efficiency and Total cost of ownership Quality manufacturing and molecules and
Slide 9: Delivering Customer Needs with High-Value Proprietary Products & Services
Delivering Customer Needs with High-Value Proprietary Products & Services SELF-INJECTION CONTAINMENT QUALITY BY DESIGN CAMERA INSPECTED Integrated Systems of Elastomer and COATED Glass STERILIZED WASHED COMPLE XIT Y OF PROBLE M SOLVE D 2024 William Blair Growth Stock Conference 9
Slide 10: West/Daikyo HVP components are the market standard for primary packaging of biologic drugs
West/Daikyo HVP components are the market standard for primary packaging of biologic drugs West and our partner Daikyo have had a high participation rate on biologic/biosimilar/gene therapy approvals over the past 5 years, which has continued 2024 YTD. H IGH GR OW T H T OP 5 0 B IOL O GIC H IGH PART
Slide 11: Research and Development is looking to push the leading edge of primary containment and delivery
Research and Development is looking to push the leading edge of primary containment and delivery and prepare for novel treatments such as advanced therapies Driving Scientific and Technical Leadership to Simplify the Journey for Customers New Products & Platforms Technology Scouting & New Product Li
Slide 12: Global Operational Effectiveness
Global Operational Effectiveness Every Component “Has” a Patient’s Name on It. Enable and Support Global Global Supply Chain Advanced Business Growth Manufacturing Maturity Manufacturing Operations Strategy Technology Leverage our global scale and Execute our West Continue to mature our Ensure produ
Slide 13: Global Operations – Proprietary Products in 2023
Global Operations – Proprietary Products in 2023 1965 2023 121,000 100 Years > 115 Million COMPONENTS OF PROVIDING COMPONENTS MANUFACTURED INNOVATIVE MANUFACTURED DAILY SOLUTIONS DAILY 2024 William Blair Growth Stock Conference 13
Slide 14: Capacity Investments making progress across the Globe
Capacity Investments making progress across the Globe AMERICAS EXPANSION PROGRESS Kinston Grand Rapids Jurong, Singapore Jersey Shore Le Nouvion Williamsport Eschweiler 2024 William Blair Growth Stock Conference 14 14
Slide 15: Capacity Investments making progress across the Globe
Capacity Investments making progress across the Globe EUROPE EXPANSION PROGRESS Dublin Kovin Jurong, Singapore Le Nouvion Eschweiler 2024 William Blair Growth Stock Conference 15 15
Slide 16: Creating a healthier environment through our sustainability efforts
Creating a healthier environment through our sustainability efforts ESG Priorities Climate Strategy R&D for the Environment Waste in Operational Processes Responsible Supply Chain ESG report to be published in June 2024 Talent Diversity & Attraction Engagement and Retention 2024 William Blair Growth
Slide 17: Future Driver of HVP Mix Shift – EU GMP Annex 1 Contains 30+ References to Packaging
Future Driver of HVP Mix Shift – EU GMP Annex 1 Contains 30+ References to Packaging What does this mean for the Background pharmaceutical manufacturer? Revision of Annex 1 Manufacture of Sterile Medicinal Products of the EU Guidelines Proof of Compliance for good manufacturing practices for medicin
Slide 18: Key Considerations When Assessing Components for Annex 1 Readiness
Key Considerations When Assessing Components for Annex 1 Readiness 1 2 3 4 Product: Process: Protection: Proof: Component Specifications Manufacturing Container Closure Integrity Documentation Design (CCI) & Service • What is the current quality • Where is product sterilized: • Is there a robust • D
Slide 19: Annex I and future regulatory changes could result in potential upgrade of HVP components
We estimate that Annex I and other future regulatory changes could result in the potential upgrade of several billions of bulk and lower-tier SELF-INJECTION HVP components currently sold CONTAINMENT QUALITY BY DESIGN CAMERA INSPECTED COATED STERILIZED WASHED COMPLE XIT Y OF PROBLE M SOLVE D 2024 Wil
Slide 20: NovaPure Components Linking Patient, Product and Process
NovaPure® Components Linking Patient, Product and Process Best-in-class particle specifications Available in leading elastomer formulations FluroTec Film/B2-Coating ppm release 100% vision verified Ready to Use Steam Sterilized 2024 William Blair Growth Stock Conference *FluroTec technology is licen
Slide 21: Risk Management Strategy: NovaPure Plungers
Risk Management Strategy: NovaPure® Plungers Product design and development planning Design verification Product design attributes Final product configuration Design History File includes Product and process development Process validation Product design output Product change control Quality by Desig
Slide 22: Making a Difference to Patient Health over the next Century
Making a Difference to Patient Health over the next Century Our Growth Drivers in the Near- and Mid-Term Biologics is the We are investing in We are leveraging our HVP mix-shift with Driving Operational fastest growing sub- growth capital HVP Proprietary new drug launches, Excellence with LEAN segme
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