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."
Forward-Looking Statements
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.
Media Contact:
Emily
Denney
Global Communications, West
+ 1-610-594-3035
Emily.Denney@westpharma.com
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SOURCE West Pharmaceutical Services, Inc.