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Financial Report: West

Packaging Systems at constant currency grew 9% in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

West
 
3Q Revenues: $344.5 million (-3%)

3Q Loss: $3.5 million (earnings were $44.0 million 3Q14)

YTD Revenues: $1.0 billion (-3%)

YTD Earnings: $83.4 million (-39%)

Comments: Pharmaceutical Packaging Systems (PPS) sales were $247.2 million in the quarter, down 2%. Sales at constant currency grew 9% driven by strong high-value packaging component sales. Pharmaceutical Delivery Systems (PDS) sales $97.6 million, down 7%, due in part to the sale of a business last year, lower sales of proprietary delivery system products. Drug reconstitution system sales declined on changes in the timing of customer orders. SmartDose injector sales lower, while CZ product sales increased. R&D costs were down $1.1 million to $8.5 million in the quarter.

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