• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

West Pharmaceutical stock skyrockets on Street-beating Q4

February 16, 2023 By Sean Whooley

West Pharmaceutical Services - updated logoWest Pharmaceutical Services (NYSE:WST) shares received a massive boost today on fourth-quarter results that beat the consensus forecast.

Shares of WST rose 15.5% at $322.53 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 10.1%.

The Exton, Pennsylvania-based drug delivery device maker posted profits of $103 million for the quarter. That amounts to $1.36 per share on sales of $708.7 million for the three months ended Dec. 31, 2022.

West recorded a 30.3% bottom-line slide on a sales growth of 30.2%.

Adjusted to exclude one-time items, earnings per share totaled $1.77. That landed 39¢ ahead of expectations on Wall Street. Sales topped estimates by a large margin, too, with analysts projecting revenues of $657.2 million.

“I am pleased to report that we had a solid finish to 2022 and that we enter 2023 with a strong order book and continued demand for our core business,” said Eric M. Green, president, CEO and chair of the West board. “I am extremely proud of the many accomplishments by our global team members, as our company has supplied critical components, solutions and systems to our base and COVID-19-related customers. Though pandemic-related product demand is declining, we continue to see overall demand growth, especially from our biologic customers.”

Green added that West plans to manage its cost structure to address the “ongoing inflationary environment.” It remains committed to a capital spending program to expand its high-value product manufacturing capacity.

West introduced full-year adjusted EPS guidance for between $7.25 and $7.40. It projects revenues between $2.935 billion and $2.96 billion for 2023.

Filed Under: Business/Financial News, Drug-Device Combinations, Featured, MassDevice Earnings Roundup, Wall Street Beat Tagged With: West Pharmaceutical, West Pharmaceutical Services

IN CASE YOU MISSED IT

  • Glucotrack to effect a reverse stock split
  • Medtronic unveils ‘MiniMed’ as name for soon-to-be separated Diabetes unit
  • Insulet, Marvel collab to unveil comic book hero with type 1 diabetes
  • Insulet rolls out new Omnipod 5 iPhone app for use with Dexcom G7
  • Tandem, Abbott strike deal to pair insulin pumps with glucose-ketone monitor

About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at swhooley@wtwhmedia.com.

Primary Sidebar

“ddb
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in drug delivery.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing + Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy | RSS