West Pharmaceutical Services, Inc. (WST)

West Pharma posts beat-and-raise quarter aided by strong demand for injectables

West Pharmaceutical Services on Thursday beat quarterly profit estimates and raised its annual profit forecast, banking on rising demand for cartridges and syringes used to manufacture injectable therapies. The company expects sales growth to ramp up as the year progresses, partly due to a surge in demand for components used in the packaging of newer treatments, including Novo Nordisk's diabetes drug Ozempic, weight-loss drug Wegovy, and Eli Lilly's diabetes drug Mounjaro. CEO Eric Green said that he expects a majority of sales growth to take place in the second half, as biotech clients work through their existing inventory.