West Pharmaceutical Services Posts 4Q Results
West Pharmaceutical Services announced Thursday its financial results for the fourth quarter 2011 with net income soared to $18.9 million.
US-based West Pharmaceutical Services announced Thursday its financial results for the fourth quarter 2011.
Pharmaceutical Packaging Systems sales reported by the manufacturer of pharmaceutical packaging and delivery systems were $210.3 million (+9%), contributing approximately half of overall revenue growth. Pharmaceutical Delivery Systems sales were $85.3 million in the quarter (+2%). Contract manufacturing revenues accounted for 79% of sales in the quarter, and proprietary products accounted for 21%. Restructuring charges were $1.0 million in the quarter related to the closing of the Montgomery, PA facility, reduction of operations at its Cornwall, England facility, as well as the elimination of operations and administrative positions at other locations.
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