EXTON, Pa., May 12, 2015 /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative packaging components and drug delivery systems, today announced a multi-year investment as part of the Company's evolving research and development strategy. To better support pharmaceutical customers around the world, West will add capabilities to all of its global Packaging Systems R&D facilities, and develop two new R&D Centers of Excellence—one in the Asia Pacific region and one in Europe—to leverage regional capabilities and expertise in parenteral drug packaging.
"For more than 90 years, West's focus on innovation, science and service has made us a trusted partner for pharmaceutical and biopharmaceutical companies worldwide," said Karen Flynn, President, Pharmaceutical Packaging Systems, West. "Our enhanced R&D Development Centers—in all regions of the globe—will further our commitment to our customers by providing world-class, science-based process and product development that enables us to quickly and efficiently anticipate and respond to changing market needs with new, innovative solutions."
The facility in Europe will be the Company's Center of Excellence for drug vial and cartridge seals, plastic technology and packaging component materials development, and will be on line by the end of 2016. The Company's location in the Asia Pacific region will serve as a Center of Excellence for innovation across all technologies specific to the emerging markets and is expected to be operational by the end of 2015.
In addition to the new facilities in the Asia Pacific region and Europe, a significant investment is being made in North America to expand the current R&D center located within the Exton, Pa. headquarters, and to upgrade the St. Petersburg, Fla. facility.
West's comprehensive research and development global network also includes development centers for self-injection and drug delivery systems along with the Company's contract manufacturing facilities in Tempe, Ariz., and Dublin, Ireland. A team focused on innovation in delivery systems is led from the West Innovation Center in Washington, N.J.
West's global investment in R&D demonstrates the Company's focus on developing the most advanced packaging and delivery systems for its customers in order to meet the growing demands of the healthcare industry.
West Pharmaceutical Services, Inc. is a leading manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. Working by the side of its customers from concept to patient, West creates products that promote the efficiency, reliability and safety of the world's pharmaceutical drug supply. West is headquartered in Exton, Pennsylvania, and supports its customers from locations in North and South America, Europe, Asia and Australia. West's 2014 sales of $1.42 billion reflect the daily use of approximately 110 million of its components and devices, which are designed to improve the delivery of healthcare to patients around the world.
This press release contains forward-looking statements within the meaning of the federal securities laws which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "should," "could," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases, which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect West's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. Furthermore, except as required by law, West disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, new information or other changes. Known material risks, uncertainties and other factors that can affect future results are discussed or incorporated by reference in periodic reports under the Securities Exchange Act of 1934, as amended, filed by West from time to time with the Securities and Exchange Commission.
Global Communications, West Pharmaceutical Services
SOURCE West Pharmaceutical Services, Inc.