8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

________________

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported) – November 17, 2009

________________________

WEST PHARMACEUTICAL SERVICES, INC.

(Exact name of registrant as specified in its charter)

_____________________

Pennsylvania	1-8036	23-1210010
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
101 Gordon Drive, PO Box 645, Lionville, PA		19341-0645
(Address of principal executive offices)		(Zip Code)

610-594-2900

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or address, if changed since last report)

____________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01   Regulation FD Disclosure

On November 12, 2009, West Pharmaceutical Services, Inc. (the “Company”) issued a press release announcing that Donald E. Morel, Jr., Ph.D., Chairman and Chief Executive Officer, and William Federici, Chief Financial Officer, will attend the Lazard Capital Markets 6th Annual Healthcare Conference in New York, NY and present an overview of West’s business and outlook on Tuesday, November 17, 2009 at 1:40 PM ET.

A copy of the Company’s presentation from the conference will be available for 30 days through the Investors link at the Company’s website, http://www.westpharma.com and is also attached hereto as Exhibit 99.1.  A copy of the press release is attached hereto as Exhibit 99.2.  Both Exhibits are incorporated herein by reference.

The information in this report (including Exhibit 99.1 and 99.2) is being furnished pursuant to Item 7.01 Regulation FD and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

Item 9.01   Financial Statements and Exhibits

Exhibits
Exhibit #	Description
99.1	West Pharmaceutical Services, Inc. Corporate Overview (Investor Presentation).
99.2	West Pharmaceutical Services, Inc. Press Release, dated November 12, 2009.

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WEST PHARMACEUTICAL SERVICES, INC.

/s/ John R. Gailey III

John R. Gailey III

Vice President, General Counsel and Secretary

November 17, 2009

3

EX-99.1

1

Donald E. Morel, Jr., Ph.D.

Chairman and Chief Executive Officer

William J. Federici

Vice President and Chief Financial Officer

Investor Relations Contact:

Michael A. Anderson

Vice President and Treasurer

mike.anderson@westpharma.com

Lazard Capital Markets 6th Annual Healthcare Conference

New York, New York

November 17, 2009

NYSE: WST

westpharma.com

All trademarks and registered trademarks are the property of West Pharmaceutical Services, Inc., unless noted otherwise.

2

This presentation contains forward-looking statements, within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, that are based on management’s beliefs and
assumptions, current expectations, estimates and forecasts.Statements that are not
historical facts, including statements that are preceded by, followed by, or that
include, words such as “estimate,” “expect,” “intend,” “believe,” “plan,” “anticipate”
and other words and terms of similar meaning are forward-looking statements.West’s
estimated or anticipated future results, product performance or other non-historical
facts are forward-looking and reflect our current perspective on existing trends and
information.

Many of the factors that will determine the Company’s future results are beyond the
ability of the Company to control or predict.These statements are subject to known or
unknown risks or uncertainties, and therefore, actual results could differ materially
from past results and those expressed or implied in any forward-looking statement.
You should bear this in mind as you consider forward-looking statements. A non-
exclusive list of important factors that may affect future results may be found in
West’s filings with the Securities and Exchange Commission, including our annual
report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K.

You should evaluate any statement in light of these important factors.

Forward Looking Statements

3

Who We Are

•Founded in 1923

•Leading global supplier of
components and systems
for injectable drug packaging
and delivery

–Vial closure systems and
prefillable syringe components

–Components for disposable
delivery systems and diagnostics

–Devices and device sub-
assemblies

–Safety and administration
systems

•Market capitalization ~$1.3 billion

•Diverse, stable customer base

4

Each and every day,

more than 80 million

West products are used

to enhance the quality of

healthcare around the world.

5

•Global economic conditions remain soft, but show signs of
improvement

•Ongoing US healthcare reform debate

•Pharma remains under substantial pressure

•Global growth projected at 2.5% - - 5% (down from 5% - 7%)

•North America down 1% - - 2%

•Europe 0% - 1%

•Emerging economies 5% - 7% (India, China, Brazil)

•Fundamental underlying industry change - consolidation - focus
on large molecule therapies

•Pfizer - Wyeth

•Roche -Genentech

•AstraZeneca -Medimmune

•Lilly - Imclone

•Merck - Schering Plough

Business Environment

6

Third Quarter Highlights

•Quarterly revenues grew 4.3% vs. 2008, excluding currency

–H1N1-related sales contributed to growth

–Customers’ cyclical inventory adjustments concluding?

•Adjusted Diluted EPS 21.6% higher than prior year quarter

•Announced Fourth-Quarter Restructuring Plans

•Key Developments:

–Validated CZ insert needle now available

–Plastef acquisition completed

–Official Opening of China Manufacturing Facility

•Updated 2009 Guidance:

–Revenue between $1.03 billion and $1.05 billion

–Adjusted Diluted EPS between $2.08 and $2.13

7

Third Quarter and Year-To-Date Results
($ in millions, except per share data)

Quarter 3			Year-to-date
2009	2008		2009	2008
$258.9	$256.2	Net Sales	$762.3	$806.3
27.7%	25.7%	Gross Margin	28.8%	28.9%
$5.1	$4.6	R&D	$14.1	$14.8
$44.3	$41.5	SG&A	$132.3	$122.5
$22.0	$19.7	Operating Profit (Non-GAAP) *	$73.0	$94.9
$15.1	$12.2	Net Income (Non-GAAP) *	$49.2	$62.6
$0.45	$0.37	Diluted EPS (Non-GAAP) *	$1.45	$1.83

*2009 Q3 and YTD operating profit, net income and diluted EPS excludes a ($0.02) per share YTD impact of Tech restructuring charges, a $0.01
and $0.06 per share impact, respectively, of discrete tax benefits and a $0.04 Q3/YTD benefit for Brazil tax amnesty.

*2008 Q3 and YTD operating profit, net income and diluted EPS excludes a ($0.03) and $0.11 per share net (loss)/gain, respectively, on the
Nektar contract settlement, a ($0.05) per share YTD impact of Tech restructuring charges and a $0.06 and $0.09 per share impact, respectively,
of discrete tax benefits.

8

Capital Management

($M)	9/30/09	12/31/08
Total Debt	$397.0	$386.0
Total Equity	$565.7	$487.1
Net Debt to Total Capital	35.9%	38.0%
Capital Expenditures:
YTD Spending	$70.4
Full Year Forecast / Actual	$110 - $120	$131.8

9

Market Dynamics Support Future Growth

•Increasing number of patients
with chronic illnesses

•Many of these are treated with
biologic drugs

•Biologic drugs demand ultra-
clean delivery systems

•Point of care shift: hospital to
specialty clinic to home

•Need for safe, accurate dosing is
pushing the market toward
integrating the container/
closure system into the delivery
system

•Generic growth

Autoimmune Disease

Vaccines

Oncology

Diabetes

10

Why West - Our Competitive Advantage

•Unmatched experience/expertise: drug - material interface

–Global regulatory and technical support

•Protected IP: proprietary materials and technology

•Regulatory barrier to entry:US NDA and ANDA filings must
include reference to packaging/components in contact
with the drug

1.West Drug Master File (DMF) 1546 is confidential

2.West DMF includes functionality data (multi-year studies)

3.All primary package changes require new stability/functionality
studies for new filing

•Global manufacturing footprint

•Market leader in packaging and delivery systems for biologics

11

Packaging & Delivery Systems for Large Molecules
are a Key Business Driver

•Currently all large molecule drugs are delivered
by injection

•West components are preferred and used for the
top selling biotech therapeutics

•Used predominantly to treat chronic diseases

–Diabetes

–Cancer

–Auto-immune

•Fastest growing segment of our business

•Strong profit driver

12

Global Biotech Blockbusters(Annual Sales >$1Billion)

Total
39

Total
106

2007’s 22 Biotech Blockbusters

Enbrel (Amgen/Wyeth)

Aranesp (Amgen)

Remicade (J&J/SP)

Rituxan (Roche)

Neulasta (Amgen)

Erypo/Procrit (J&J)

Herceptin (Roche)

Epogen (Amgen)

Avastin (Roche)

Humira (Abbott)

Lantus (Sanofi-Aventis)

Avonex (Biogen Idec)

Neorecormon (Roche)

Gardasil (Merck)

Rebif (Serono)

Neupogen (Amgen)

Novorapid (Novo Nordisk)

Erbitux (Imclone/Merck KGaA/BMS)

Lucentis (Roche/Novartis/Genentech)

Synagis (MedImmune)

Humalog (Lilly)

Betaferon (Bayer/Schering AG)

Sources: IMS 2008 Global Biotech Perspective report and Company
Estimates

West supplies components for all
current Biotech Blockbuster products

13

Drug Packaging

(How it is contained)

Primary Container Solutions

Prefillable Syringe Systems

Drug Delivery

(How it gets into the patient)

Administration Systems

Advanced Injection Systems

Our Growth Strategy

•Build market share in multi-
component systems for drug
administration

•Expand proprietary product portfolio
through innovation and strategic
technology acquisitions

•Market segmentation to generate
incremental value per unit

•New product innovation

•Lean manufacturing

•Strategic acquisitions

•Geographic expansion

•China

•India

14

Core Strategy - Add Incremental Quality and Value
(representative prices per thousand units)

Uncoated 4432/50 V35

$50

$200

4432/50 S2 FluroTec®
Westar RS

$250

4432/50 S2 FluroTec®Westar RS B2-40 Port Bag

$300

4432/50 S2 FluroTec®Westar® RS B2-40
(1000 packs)

Ready-to-sterilize
components

$465

4432/50 Sterile S2 W
(RU) Ready Pack®

(1000 packs)

$2,900

RU Ready Pack® System
(small volume sourcing only)

Vials and closure system,

Ready-to-use (sterile)

$3,500

$360

15

China Plastics Facility

16

Drug Packaging

(How it is contained)

Primary Container Solutions

Prefillable Syringe Systems

Drug Delivery

(How it gets into the patient)

Administration Systems

Advanced Injection Systems

Our Growth Strategy

•Build market share in multi-
component systems for drug
administration

•Expand proprietary product portfolio
through innovation and strategic
technology acquisitions

•Market segmentation to generate
organic growth

•New product innovation

•Lean manufacturing

•Strategic acquisitions

•Geographic expansion

•Capacity build - Europe, Singapore,
North America

•China plastics

•India rubber site selection

17

Delivery Systems - Key Programs

Vial2Bag™

Mix2Vial®

MixJect®

NovaGuard™ Safety
Needle Device

(luer-lock syringe)

ConfiDose®
Auto-injector

Daikyo Crystal Zenith®

éris™

Safety Needle Device

(fixed-needle syringe)

18

Comparison of protein aggregation in glass versus CZ for
a model antibody

Daikyo Crystal Zenith®

Glass

19

Our Long-term Focus

•Superior quality and service

•Margin improvement - lean manufacturing, OEE

•Continued investment for the future

–Innovation: New products that meet the challenge of biologics

–Geographic expansion

–Technology & product acquisitions

•Financial discipline

–Maintain strong operating cash flow

–Prudent spending: discretionary SG&A, R&D and Capex

–Maintain a strong balance sheet

–Return on Invested Capital > Weighted Average Cost of Capital

20

Drug Packaging

(How it is contained)

Primary Container Solutions

Prefillable Syringe Systems

Drug Delivery

(How it gets into the patient)

Administration Systems

Advanced Injection Systems

Five-Year Growth Opportunity

$2 billion combined markets for safety,
prefilled and auto-injectors:

•Annual unit growth 6-12%,
depending on segment

•West 2009 sales: $250 million

•2009 OP margin: 5%

Strategic Planning Goals:

•Projected 2014 sales of $600 million

•Projected 2014 OP margin 20%

$1.5 billion market for packaging
components:

•Annual unit growth 0-8%, depending
on segment

•West 2009 sales: $750 million

•2009 OP margin: 18%

Strategic Planning Goals:

•Projected 2014 sales of $1.0 billion

•Projected 2014 OP margin 20%

21

Summary

•Market leader

•Proprietary technology

•Regulatory expertise

•Customer base

•Global footprint

•Partnerships

–Daikyo

–Mexico

•New product pipeline

•Financial position

–Cash flow

–Balance sheet

•People

Injectable Container Solutions

Advanced
Injection
Systems

Prefillable Syringe
Systems

Safety and Administration
Systems

22

Donald E. Morel, Jr., Ph.D.

Chairman and Chief Executive Officer

William J. Federici

Vice President and Chief Financial Officer

Investor Relations Contact:

Michael A. Anderson

Vice President and Treasurer

mike.anderson@westpharma.com

Lazard Capital Markets 6th Annual Healthcare Conference

New York, New York

November 17, 2009

NYSE: WST

westpharma.com

All trademarks and registered trademarks are the property of West Pharmaceutical Services, Inc., unless noted otherwise.

EX-99.2

Contacts: West Pharmaceutical Services, Inc. Michael A. Anderson Vice President and Treasurer (610) 594-3345 Investors and Financial Media: Westwicke Partners John Woolford/Stefan Loren (443) 213-0506/0507

West to Present at Investor Conference

LIONVILLE, Pa., - West Pharmaceutical Services, Inc. (NYSE: WST) today announced that Donald E. Morel, Jr., Ph.D., Chairman and Chief Executive Officer, and William Federici, Chief Financial Officer, will attend the Lazard Capital Markets 6th Annual Healthcare Conference in New York, NY, and will present an overview of West’s business and outlook on Tuesday, November 17, 2009 at 1:40 PM ET.

A copy of the corporate presentation document as well as a live audio webcast of the presentations will be posted on the investor link of the Company's website at www.westpharma.com.

About West

West is a global manufacturer of components and systems for injectable drug delivery, including stoppers and seals for vials, and closures and disposable components used in syringe, IV and blood collection systems. The Company also provides products with application to the personal care, food and beverage markets. Headquartered in Lionville, Pennsylvania, West supports its partners and customers from 50 locations throughout North America, South America, Europe, Mexico, Japan, Asia and Australia. For more information, visit West at www.westpharma.com.