West Pharmaceutical Services, Inc. · NYSE:WST

West Pharmaceutical Services — Investor Day (May 2014)

95 slides from West Pharmaceutical Services's investor day presentation, May 22, 2014

  1. Slide 1: West Investor Day, May 22, 2014

    West? for a healthier world” Investor Day May 22, 2014

  2. Slide 2: Safe Harbor Statement

    Safe Harbor Statement Cautionary Statement Under the Private Securities Litigation Reform Act of 1995 This presentation and any accompanying management commentary contain “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements inc

  3. Slide 3: Agenda

    3 • Introduction Don Morel • Global Markets Mike Schaefers • Device Markets Graham Reynolds • Delivery Systems John Paproski • Daikyo Crystal Zenith® Scott Young • SmartDose® Bart Burgess • Q&A and Break • Packaging Systems Jeff Hunt • Developments in High-Value Mike Schaefers Packaging • Operations

  4. Slide 4: Partnering with customers from their beginnings

    Partnering with our pharmaceutical, device and biotechnology customers from their beginnings, we’ve grown… …to become the preeminent supplier of products used in containing and administering small-volume parenteral drugs

  5. Slide 5: West's Vision for a Healthier World

    West’s Vision for a Healthier World Our Mission To partner with our customers from concept to patient, helping them imagine, develop and deliver products that improve lives around the world. Our Vision Create a healthier world by helping our healthcare partners save lives, eradicate disease and mana

  6. Slide 6: Million West products used every day

    On average, 110 million West products are used every day around the globe Hemophilia Diabetes Cancer Autoimmune diseases Eradicating Disease Managing Wellness Saving Lives 6

  7. Slide 7: A Trusted Partner

    A Trusted Partner West and Daikyo Components The Top 50 Pharma and Biotech Companies rely on in the world • The top 35 injectable biologics rely on West and Daikyo components • > 130 million needle safety systems annually • > 100 million components and assemblies for pens and auto-injectors annually

  8. Slide 8: Business Segments

    Business Segments 2013 Revenues (millions)  Contract manufacturing for • Rx injection systems • Diagnostics, medical/surgical • Consumer  Proprietary products • Drug reconstitution and fluid transfer • Needle safety • Daikyo CZ® products • Drug administration devices  Primary packaging components

  9. Slide 9: Our Growth Initiatives 2014-2018

    Our Growth Initiatives 2014-2018 Daikyo Crystal Zenith® is a registered trademark of Daikyo Seiko, Ltd. * Packaging Systems Delivery Systems  High-value products: modest unit growth, increasing average selling price and margin  Geographic expansion: China, India sourcing and end-markets  Optimize

  10. Slide 10: Global Markets Update

    Mike Schaefers Vice President, Global Marketing Pharmaceutical Packaging Systems 10 Global Markets Update

  11. Slide 11: Global Pharmaceutical Market Trends

    11 • Moderate global pharmaceutical revenue growth  Global pharmaceutical market is expected to grow in revenues @ CAGR of + 3 – 6%  Growth driven by “Pharmerging Markets” (BRIC, MENA)  Unit growth remains moderate Global Pharmaceutical Market Trends IMS “The Global Use of Medicines” November 201

  12. Slide 12: Global Pharmaceutical Market Trends: Pharmerging Markets

    12 • Global drug spending will be fueled by pharmerging markets due to  Economic developments that will drive volume growth  Improvements in infrastructure and access to medicines  Lifestyle changes that trigger chronic diseases Global Pharmaceutical Market Trends 34% 15% 8% 12% 31% 2012 US EU 5

  13. Slide 13: Global Pharmaceutical Market Trends

    13 • Globalization and consolidation of pharma industry continues • Trend toward outsourcing of production to contract manufacturer or partner in India and China • Stricter regulatory and compliance standards in terms of quality and patient safety • Drug recalls have led to shortages of injectable d

  14. Slide 14: Global Pharmaceutical Market Trends

    14 • Health care markets becoming more value driven  Price cuts and reimbursement restrictions  Therapeutic expert-supported due diligence during drug and reimbursement approvals  Industry focus on total cost of ownership • Growing requirements for brand enhancement and differentiation  Delivery

  15. Slide 15: Generic Market Trends

    15  Market growing at 11.5% CAGR till 2018  $123 billion in global branded drug products losing patent protection over next years  Significant policy changes encourage use of generics  Affordable care act in US  Drug price cuts in i.e. China, Japan, Spain, Italy  Cost benefit evaluations of ne

  16. Slide 16: Transformation in Disease Treatment

    16 Transformation in Disease Treatment • More new medicines will be launched per year (~35 annually) • Innovative therapies for Alzheimer‘s, autoimmune, diabetes, cancer providing more options for patients  Specialty drugs based on existing or novel mechanism  Orphan drugs • Predominantly biologic

  17. Slide 17: Injectables are on the Rise

    17 Injectables are on the Rise • Average revenue growth of 11% forecasted annually • Average unit growth 2 – 3% annually • Outperforming growth of oral dosage forms IMS Institute

  18. Slide 18: Growing Share of Medicines are Biologic

    18 Growing Share of Medicines are Biologic 2002 $46 bn 2017 $221 bn • 20% of the global pharma market value will be biologics • Growth driven by monoclonal antibodies (mAbs) and insulin • About 1/3 of all pipeline drugs are biologics • Strong increase in biologic drug manufacture in Asia IMS “The Gl

  19. Slide 19: Key Therapy Areas account for 70% of Biologics Market

    19 Key Therapy Areas account for 70% of total Biologics Market Insulins 18% Anti-TNF 18% Oncology (mAb) 14% EPO 9% MS 9% Others 32% Market Intelligence Growing Share of Medicines are Biologic

  20. Slide 20: New Biologics Face Increasing Challenges

    20 New Biologics Face Increasing Challenges Trends • Increase in long-acting or depot injections • Technical constraints of new biologics  Sensitivities  High concentration  Viscosity  Delivery route • Increasingly competitive Implications • Injection devices are important enabling technologies

  21. Slide 21: The Emergence of Biosimilars

    21 Global Biologics Market: $221 billion • $64 billion in global biologics losing patent protection by 2015 • Major target for health care cost savings • Mature European market but low adoption rates • Strong business in emerging markets with non-original biologics • Global success dependent on clar

  22. Slide 22: West's Focus on Leading Therapeutic Areas

    22 • High unmet medical need • High cost burden of diseases • New drugs enabled through biotechnology • Innovative container and delivery systems allowing new treatment options • Patient access expanded • Funding redirected from other areas where low-cost generics will be available West’s Focus on L

  23. Slide 23: Selected Injectable Product Launches & Late Stage Pipeline

    Phase II • > 170 Vaccine products • > 160 Oncology products • > 130 Autoimmune products • 7 Human Insulins • 5 GLP-1 • 1 PCSK-9 mAb Selected Injectable Product Launches & Late Stage Pipeline 23 Phase III • 51 Vaccine products • 51 Oncology products • 19 Autoimmune • 4 Human Insulins • 1 GLP-1 • 3 PC

  24. Slide 24: Market Challenges and West's Solutions

    24 Market Challenges and West’s Solutions Requirements West Solutions • Stability of demanding pharmaceuticals/ biopharmaceuticals • cGMP compliance • Manage sensitivity of proteins • Solutions to glass delamination and breakage • Need for lifecycle management, product and brand differentiation • He

  25. Slide 25: Providing Solutions to a Changing Market

    25 Innovative components and container to enhance drug stability High value packaging to manage Total Cost of Ownership High value packaging to ensure highest quality Delivery Systems to drive brand enhancement and differentiation Patient preference and Human Factor Testing deliver competitive advan

  26. Slide 26: West is well positioned for growth

    26 • Primary growth drivers have not changed • Continuous focus on rapidly growing therapeutic categories • Importance of parenteral and biological drugs in these categories • Strong correlation between requirements of targeted therapeutic categories and West´s portfolio of solutions West is well po

  27. Slide 27: Device Markets Update

    Graham Reynolds Vice President, Marketing and Innovation Pharmaceutical Delivery Systems 27 Device Markets Update

  28. Slide 28: Historical focus on the drug molecule

    28 • Historical focus has been primarily on the drug molecule • Preparation and administration typically performed by healthcare professional • Devices seen as added cost • Previously minimal focus on patient adherence Improved systems are a critical part of enabling effective drug delivery

  29. Slide 29: But the environment is changing

    But the environment is changing… • Transferring responsibilities and point-of-care  Hospital > Clinic > Home (self administration)  Healthcare professional > patient or caregiver • Increasing number of biologics  Most are injected  Many for chronic conditions • Increasing competition  Crowded t

  30. Slide 30: A drug can be truly effective only if...

    A drug can be truly effective only if it is… • In a container that maintains quality and effectiveness over time • Prepared and delivered effectively, by the person(s) necessary for administration • Combined with a device (if required) that  Functions effectively  Is easy to use • Administered eff

  31. Slide 31: Drug delivery as an integrated system

    West helps our partners improve patient outcomes by looking at drug delivery as an integrated system 31

  32. Slide 32: Time to commercialization

    Time to commercialization can vary based on many factors Year 1 Year2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Contract Manufacture Co-development Cleared Device CZ system (Vial or Syringe) SmartDose Existing design Existing drug and device New Drug 32

  33. Slide 33: Pharmaceutical Delivery Systems

    John Paproski President Pharmaceutical Delivery Systems 33 Pharmaceutical Delivery Systems

  34. Slide 34: Our Business: Pharmaceutical Delivery Systems

    Our Business: Pharmaceutical Delivery Systems • 2013 Revenue: $374 Million • Proprietary Devices/ Delivery System Technologies • Collaborative Development • Contract Manufacturing Development Primary Package Administration Patient 34

  35. Slide 35: Pharmaceutical Delivery Systems Sales History

    Pharmaceutical Delivery Systems Sales History - 50 100 150 200 250 300 2010 2011 2012 2013 $ in millions - 20 40 60 80 100 2010 2011 2012 2013 Contract Manufacturing Proprietary Products 2010 to 2013 CAGR: 2.4% 2010 to 2013 CAGR: 14.2% 35

  36. Slide 36: The PDS business model has evolved

    The PDS business model has evolved: 3 options for customer engagement….. PDS Capabilities PROPRIETARY “We have the solution to your product’s requirements.” COLLABORATIVE “We can work together to create what you need.” CONTRACT: “We can engineer and manufacture to your specifications.” 36

  37. Slide 37: Evolving with the Marketplace

    Evolving with the Marketplace Since 2005, we have expanded our offering by adding innovative technologies and solutions through acquisition, licensing, strategic partnership and internal development. Acquired The Tech Group Acquired Medimop administration systems 2005 Licensed NovaGuard™ safety syst

  38. Slide 38: Pharmaceutical Delivery Systems Strategic Platforms

    Pharmaceutical Delivery Systems Strategic Platforms Bulk Drug Containers Vials & Cartridges Insert Needle & Luer Lock Syringes ConfiDose auto-injector system technology platform* SmartDose electronic patch injector technology platform* SelfDose injector system technology platform* NovaGuard® LP Need

  39. Slide 39: The Tech Group: Market Focus

    • Healthcare Market Focus  Drug Delivery Systems  Injectable and pulmonary  Diagnostics devices and disposables  Ophthalmic  Laboratory and surgical equipment • Full Product Lifecycle Management • Manufacturing Excellence  Six Sigma culture The Tech Group: Market Focus 39

  40. Slide 40: The Tech Group: Manufacturing Capabilities

    • 1,000,000+ sq ft of manufacturing space (9 Sites) • US and European presence (1,600 employees) • Development teams in Arizona and Ireland • Various medical quality accreditations  FDA registration  ISO 13485  ISO 14001 • Precision injection molding and high-speed automation • Experience with co

  41. Slide 41: Daikyo Crystal Zenith

    Scott Young, Ph.D. Vice President Crystal Zenith Business Unit 41 Daikyo Crystal Zenith

  42. Slide 42: Daikyo Crystal Zenith COP: Total Life Cycle Containment

    Daikyo Crystal Zenith COP A Solution for Total Life Cycle Containment Discovery Preclinical Clinical Phases Scale up Life cycle management CZ Vials CZ Syringes Screw-Cap Self Injection In various stages of testing with over 100 new and exiting drugs Compliant with JP, PhEur, USP Over 30 Products app

  43. Slide 43: Daikyo Crystal Zenith Product Approvals

    Daikyo Crystal Zenith Product Approvals Hyaluronic acid MRI contrast media Bone cement 6 Contrast Media 5 MRI 2 Hyaluronic Acid 1 Calcitonin 1 Proton pump inhibitor Oncology Anticoagulant Oncology Bisphosphonate Hyaluronic acid Oncology Bisphosphonate Bulk Container Japan MHLW Europe EMEA US FDA 43

  44. Slide 44: Market Trends: Concerns With Glass Syringes

    Market Trends Concerns With Glass Syringes  Dimensional Variation  Breakage in auto-injectors  Designed for manual injection  Variable Silicone Distribution  Amount of silicone coverage  Inconsistent break-loose force and sustaining-force  Quality  Cosmetic defects  Particles  High levels

  45. Slide 45: No Glass Delamination in CZ Vials

    * West Internal Study. Bales, F., Lathrop, L., Kopp, A., and Mitchel, B.; “Detecting Siliceous Flakes in Glass Containers using Microscopic Techniques”. Photomicrograph Contact Surface* 57 Days @ pH 10 (50 mM boric acid/50 mM KCl) Daikyo Crystal Zenith Vial Glass Vial No Glass Delamination in CZ Via

  46. Slide 46: Advantages of CZ Syringes

    Design Flexibility High flexibility for alternate / complex shapes Novel designs available to reduce device size No Glass Breakage No loss of high-value product during manufacture/transport Improves auto-injector functionality — Minimized extractables and leachables Silicone oil free High Functional

  47. Slide 47: Crystal Zenith Platform Technology

    Crystal Zenith Platform Technology • CZ Vials gaining interest due to glass delamination. Sold commercially world- wide • CZ Luer-Lock Syringes sold commercially for Contrast Imaging market • Insert Needle Syringes under stability evaluation with several major biopharma customers • Integration of Cu

  48. Slide 48: SmartDose Wearable Electronic Injector

    Bart Burgess Director Business Development 48 SmartDose Wearable Electronic Injector

  49. Slide 49: Subcutaneous Bolus Injector Market Potential

    49 Subcutaneous Bolus Injector Market Potential SmartDose Candidates Source: Roots Analysis Report November 2013 1 4 9 21 41 73 116 177 253 352 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Overall Bolus Injectors Market (# of Devices, MM) • Top 3 therapy areas by units are  Cancer (50%) 

  50. Slide 50: Market Dynamics

    50 • Doses for efficacy may exceed current volume limits of existing PFS systems • Increasingly crowded therapeutic spaces demand…  Less frequent delivery  Less intimidating delivery  Other patient-friendly enhancements • According to the PrefHer study conducted by Roche, 92% of the patients show

  51. Slide 51: SmartDose Electronic Wearable Injector

    • Advanced large-volume injector for biologics  Tested on humans in a clinical study  Validated production line for clinical and commercial use • Current capabilities  Up to 3.5 mL delivered volume  Delivery time from minutes to hours  Subcutaneous injection  Proven in numerous user studies 

  52. Slide 52: Program Update

    • Multiple development programs underway with several customers • West completed first-in-human trial of the SmartDose system • Successfully demonstrated product capability • Customer has commenced a large clinical study with SmartDose Program Update 52

  53. Slide 53: West is Well Positioned

    • Primary container expertise  90+ years of experience in primary packaging  Broad experience with fillers and machinery markets  Tens of billions of components supplied annually • Device development expertise  Hundreds of millions of injection systems supplied  Complete capabilities: concept t

  54. Slide 54: West Investor Day, May 22, 2014

    West? for a healthier world” Investor Day May 22, 2014

  55. Slide 55: Pharmaceutical Packaging Systems

    Jeff Hunt President Pharmaceutical Packaging Systems 55 Pharmaceutical Packaging Systems

  56. Slide 56: Our Business: Pharmaceutical Packaging Systems

    Our Business: Pharmaceutical Packaging Systems • 2013 Revenue: $996 Million • Market Leader • Global Manufacturing • Innovative and Proven Product Portfolio Development Primary Package Administration Patient 56

  57. Slide 57: We are Proud to Serve Our Customers

    PHARMACEUTICAL / BIOTECHNOLOGY We are Proud to Serve Our Customers GENERIC MEDICAL DEVICE 57

  58. Slide 58: Our Business Environment

    58 Our Business Environment Globalization of our Customer Base Geographic Expansion Total Cost of Ownership Focus Higher Regulatory Scrutiny Steadily Increasing Quality Expectations

  59. Slide 59: Uniquely Positioned with our Customer Base

    59 • Global market coverage • End-to-End solution provider • In-depth customer penetration across multiple functions and levels  Executives  R&D  Marketing  Quality  Regulatory  Operations  Purchasing • Recognized opinion leader in our industry • Pro-active risk management Uniquely Positioned

  60. Slide 60: Our Success Story

    60 • Strong revenue and profit growth • Sales growth drivers  Pharma market growth  Customers restocking supply chains  Increasing mix of high-value product sales • Operating Profit growth drivers  Improving mix of high-value products with higher margins  Operating efficiencies through higher v

  61. Slide 61: Business Outlook

    61 • Growth prospects continue to be strong  Growth in 2015 – 2018 timeframe; mid to high single digits  Increasing demand for high-value products  Emerging markets to deliver higher growth • Continued margin growth  Regional networks are near capacity  On-going investment for capacity and incr

  62. Slide 62: Our goals are defined

    Our goals are defined … GOALS Sustainable revenue and operating profit growth Global market leader for packaging solutions Exceptional customer care 62

  63. Slide 63: Comprehensive strategy

    …and will be achieved through a comprehensive strategy 63 STRATEGIES High-value product growth Geographic expansion Network optimization and facility segmentation Top-tier, engaged talent

  64. Slide 64: Network Optimization and Facility Segmentation

    64 • Global Operations Management  Moving from comprehensive regional approach  Serve regional markets from global manufacturing network • Evolving market and customer requirements  “Zero defect” mind-set  Proactive risk mitigation  Competitive markets • Facility segmentation for different prod

  65. Slide 65: Geographic Expansion

    China – Elastomers 65 • Strengthen our commercial presence in fast growing emerging markets  Enhanced customer and market penetration  Increased revenues • Build-up emerging market footprint Geographic Expansion India – Seals

  66. Slide 66: Market Trends Drive High-Value Product Growth

    66 Increasing Quality Expectations Lifecycle Management Patient Focus Operational Efficiencies Outsourcing High-Value Product Growth Market Trends Drive High-Value Product Growth

  67. Slide 67: Developments in High-Value Packaging

    Mike Schaefers Vice President, Global Marketing Pharmaceutical Packaging Systems 67 Developments in High-Value Packaging

  68. Slide 68: Changing Market Requirements

    Increasing Regulatory Scrutiny Increasing Patient Focus Zero-Defect Components and Containers Trend Toward Outsourcing of Component Processing Higher Expectations around Particles and Leachables Changing Market Requirements 68

  69. Slide 69: Providing Solutions for a Changing Market

    69 Providing Solutions for a Changing Market Value to Customer R e v enue and G ros s Margi n per Unit @ W e s t Westar® RS FluroTec® Westar® RU Envision™ Flip-Off® CCS™ Standard Stopper & Seals

  70. Slide 70: Providing Solutions for a Changing Market

    Westar® RS State of the art ready-to-sterilize elastomer closures 70 FluroTec® Unrivaled barrier coating Westar® RU State of the art ready-to-use syringe plungers and closures Flip-Off® CCS™ Prewashed and sterilized Flip-Off seals Providing Solutions for a Changing Market

  71. Slide 71: Providing Solutions for a Changing Market

    71 Providing Solutions for a Changing Market Envision™ Technically advanced, automated vision inspection system NovaPure® Unrivaled quality…by design West Prefillable Solutions Prefilled Drug Delivery Solutions achieving best patient outcomes Ready Pack® Sterile seals, stoppers and vials provided as

  72. Slide 72: Addressing Market Challenges with NovaPure Components

    72 Regulatory Driver Customer Need West Solution Patient Safety Zero Defect Components Addressing Market Challenges with NovaPure Components

  73. Slide 73: Addressing Market Challenges with NovaPure Components

    • NovaPure forms the foundation for next generation components  Based on Quality by Design (QbD)  In-depth product and process understanding  Focus on patient safety  Targeted for biologic drug products  Answer to high quality and service requests 73 Addressing Market Challenges with NovaPure C

  74. Slide 74: NovaPure Plunger for Prefilled Syringes

    • Patient safety is of critical importance • Component quality and functionality driving device performance • Regulatory and quality expectations increasing for parenteral drugs • Biologics require special packaging considerations 74 - FluroTec/B2 - Vision Verified - RU Steam - Industry Leading - De

  75. Slide 75: Evolution of Prefilled Syringe Components

    75 Evolution of Prefilled Syringe Components in Anticipation of Market Needs

  76. Slide 76: Packaging Development Enables Ready to Use Components

    West Packaging Development Enables Delivery of Ready to Use Components 76

  77. Slide 77: High-Value Products Driving Future Growth

    2009 2014 2018 R e v e n u e Pipeline HVPs Recently launched HVPs Daikyo HVPs Standard High-Value Products Driving Future Growth 77 2009 2013 E 2018

  78. Slide 78: West is uniquely positioned to capitalize on key trends

    78 Market trends and customer requirements result in increasing demand for… West is uniquely positioned to capitalize on key market trends. High quality components Solutions matching with global regulatory requirements Life Cycle Management Solutions Outsourcing Opportunities Components supporting o

  79. Slide 79: Manufacturing Network Optimization

    Don McMillan Vice President Global Operations 79 Manufacturing Network Optimization

  80. Slide 80: Global Operations Management

    • Strategic Principles • Manufacturing Network Segmentation and Optimization • Product Portfolio Optimization Pharmaceutical Packaging Systems Global Operations Management 80

  81. Slide 81: Strategic Principles for Operations

    Strategic Principles for Operations Quality Driven by Science Supply Chain Excellence Segmentation Exceptional Customer Care 81

  82. Slide 82: Operations Network for Tomorrow

    • Segmented facilities with Global Centers of Excellence • World-class capability in three geographies– EU, US and APAC • Improved supply chain and service flexibility • Risk plans established by market segment • Competitiveness in emerging markets • Strengthened capability on foundation of Lean and

  83. Slide 83: Product Segmentation Enables Exceptional Customer Care

    - Product Segmentation Enables Exceptional Customer Care for Biotech and HVPs 83 High-Value Products •Exceptional customer service and delivery • Proactive risk mitigation •Unparalleled product and process understanding •Ready Pack® sampling for biotech Remove Complexity •Portfolio optimization •Man

  84. Slide 84: Product Segmentation Example

    We support our customers and patients for the lifecycle of their products Pi e c es ( M s ) Product Segmentation - EXAMPLE CUSTOMER BENEFITS Improved reliability and delivery Increased transparency Customer satisfaction WEST BENEFITS Reduced costs Improved quality “Free” capacity 84 60 Items Standar

  85. Slide 85: New Order Fulfilment Strategies

    0% 5% 10% 15% 1 2 3 4 5 6 7 8 9 10 11 12 New Order Fulfilment Strategies benefit West and the market 85 % o f A n n u a l De m a n d Months Item Demand by Month 0% 5% 10% 15% 1 2 3 4 5 6 7 8 9 10 11 12 9X% Customer Service Level Average 1.25 Months Finish-to-Order Production % o f A n n u a l De m a

  86. Slide 86: Key Takeaways

    86 • Well positioned for future growth  High-value products  New high-quality product offerings • Geographic Expansion  Emerging market penetration  Expanded global footprint • Global Operations Optimization  Segmentation  Leverage global network Key Takeaways

  87. Slide 87: Financial Outlook

    Bill Federici Senior Vice President and Chief Financial Officer 87 Financial Outlook

  88. Slide 88: Capital Spending

    Capital Spending 2009 – 2013 ($112 million annual average) Expecting annual capital spending of $125 million to $150 million through 2018, with discretionary spending focused on high-value packaging components and proprietary devices. PPS 63% PDS 20% Corporate 17% Normal & Necessary Maintenance 37%

  89. Slide 89: High-Value Product Sales, Margin Growth

    High-Value Product Sales, Margin Growth Pharmaceutical Packaging Systems 2009-2013 compound annual sales growth rates (excludes currency) Circles reflect relative size of 2013 sales

  90. Slide 90: Proprietary Product Sales, Margin Growth

    Proprietary Product Sales, Margin Growth Pharmaceutical Delivery Systems 2009-2013 compound annual sales growth rates (excludes currency) Circles reflect relative size of 2013 sales SmartDose Mix2Vial® éris Daikyo Crystal Zenith 90

  91. Slide 91: 10-Year Growth 2004-2013

    10-Year Growth 2004 – 2013 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Sales OP 91 Adjusted OP Sales

  92. Slide 92: Existing Financial Guidance

    Existing Financial Guidance 2014 Consolidated Revenue $1.45 - $1.48 billion 2014 Consolidated Gross Margin 31.9% - 32.4% 2014 Diluted EPS $1.77 to $1.89 per share 2018 Financial Plan Objectives Consolidated Revenues Consolidated Operating Margin $2.0 to $2.2 billion High-teens 2014 guidance includes

  93. Slide 93: Closing Remarks

    Don Morel Chairman and Chief Executive Officer 93 Closing Remarks

  94. Slide 94: Takeaway Messages

    Takeaway Messages • Key partner to pharmaceutical, biotech, and med device customers • “Sticky” core business – significant barriers to entry • Strong competitive position  Diversified customer base  Maturing proprietary technology pipeline  Unmatched global manufacturing footprint  Position in

  95. Slide 95: West Investor Day, May 22, 2014

    West? for a healthier world” Investor Day May 22, 2014

West Pharmaceutical Services — Investor Day (May 2014) on 6ix