Adds to Growing Manufacturing Footprint in Ireland
DUBLIN, Nov. 29, 2016 /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, today announced the completion of a 60,000 square foot expansion at its contract manufacturing facility near Mulhuddart, County Dublin. The expansion is in response to customer demand for medical device manufacturing—especially in the area of diabetes—and represents West's most recent investment in Ireland, where the Company is also building a new pharmaceutical component manufacturing facility.
West also announced that its contract manufacturing business—formerly known as The Tech Group—will now align with the West brand and do business as "West." This transition reflects the significance of contract manufacturing in West's long-term strategy as a leader in integrated packaging and delivery for injectable medicines. The additional capacity in Dublin will make it possible to better service the Company's growing healthcare and medical device contract manufacturing business, which is focused on supplying high-quality molding and assembly solutions for the production of medical devices such as auto-injectors and continuous glucose monitoring systems. West anticipates 100 new jobs will be added to the business over the next five years as a result of the expansion.
"As the healthcare market becomes increasingly complex, West is advancing our core competencies in the development, manufacturing and final packaging of complex drug delivery systems and diagnostic devices for our customers," said Karen Flynn, Senior Vice President and Chief Commercial Officer, West. "We are excited about the growth and expansion we are experiencing in both our contract manufacturing business in Dublin as well as our proprietary products business in Waterford, both of which will support increasing demand from our global customer base."
Along with the expansion of its Dublin facility, West is also growing its proprietary product business in Waterford, Ireland. The Company previously announced the construction of a centre of excellence for its proprietary elastomeric sheeting and injectable component product lines. The new plant is expected to begin full commercial operations in 2018.
"We are very pleased with West's commitment to furthering operations in Ireland," said Mary Mitchell O'Connor TD, Ireland's Minister for Jobs, Enterprise & Innovation. "With this most recent expansion in Dublin and the company's previously announced investment in Waterford, West is affirming its presence as an important employer in Ireland. I am delighted with this new investment, which strongly aligns with the Government's ongoing strategy to attract investment in high-quality, high-value, medical device manufacturing to Ireland. We look forward to strengthening our relationship with West."
Martin Shanahan, CEO, IDA Ireland said, "IDA's life science sector continues to grow from strength-to-strength and this investment by West is a good example of the potential for convergence across the life sciences sector. Ireland has seen hundreds of millions invested in recent years in the development and manufacturing of new injectable drugs for diabetes, cardiovascular disease, autoimmune disease and cancer. The patients who will benefit from these exciting new drugs will also benefit from West's innovation in drug delivery devices. IDA welcomes this investment and looks forward to continuing to work with West and their partner biotech companies in further developing the Irish cluster."
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. Examples of these forward-looking statements include (but are not limited to) West's statements with respect to planned manufacturing capabilities and job creation. 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.
About West 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 2015 sales of $1.4 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.
About Contract Manufacturing West is a global contract manufacturer of pharmaceutical and medical devices and diagnostics. With eight locations in North America and Europe, West's contract manufacturing business is focused on serving the needs of healthcare companies by providing a single-sourced solution from product conceptualization and rapid prototyping through high-volume manufacturing and final packaging.
West and the diamond logo and By your side for a healthier world™ are registered trademarks or trademarks of West Pharmaceutical Services, Inc., in the United States and other jurisdictions.