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) – March 24, 2010

________________________

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)

610-594-3319

(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 March 17, 2010, 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 J. Federici, Chief Financial Officer, will present at the Barclays Capital 2010 Global Healthcare Conference in Miami, FL on March 24, 2010 at 2:30 PM ET.

A copy of the press release is attached hereto as Exhibit 99.1.  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 99.2.  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  Financials Statement and Exhibits

(d)	Exhibits
	Exhibit #	Description
	99.1	West Pharmaceutical Services, Inc. Press Release, dated March 17, 2010.
	99.2	West Pharmaceutical Services, Inc. Corporate Overview (Investor Presentation).

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SIGNATURE

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

March 24, 2010

3

EXHIBIT INDEX

Description

99.1   West Pharmaceutical Services, Inc. Press Release, dated March 17, 2010.

       99.2  West Pharmaceutical Services, Inc. Corporate Overview (Investor Presentation).

4

EX-99.1

Exhibit 99.1 

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 Barclays Investor Conference

LIONVILLE, Pa., March 17, 2010 -- 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 Barclays Capital 2010 Global Healthcare Conference in Miami, FL.  Management will present an overview of West's business and outlook on Wednesday, March 24, 2010 at 2:30 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.

EX-99.2

1

Donald E. Morel

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

Barclays 2010 Global Healthcare Conference

Miami, FL

March 24, 2010

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

Corporate Profile

•For more than eighty years, a
global leader in the development
and manufacturing of
components and systems
for injectable drug delivery

–Vial closure systems

–Prefillable syringe components

–Components for diagnostics

–Devices and device sub-
assemblies

–Safety and administration
systems

•Market capitalization $1.4 billion

•Diverse, stable customer base

•Global footprint

Devices

Proprietary

Products

4

West Pharmaceutical Services Today

●32 plants in 10 countries

●34 sales offices

●7 technical centers

6,000 employees worldwide

5

•Challenges:

–Adverse effects of pension expense, currency effects

–Recession impacted customer order patterns

•Tighter cost, working capital and inventory management

•Some major programs delayed or cancelled

–First half sales declines

•Full year revenues grew by 3.5 % excluding currency

–H1N1-related sales growth

–Customer cyclical inventory adjustments moderating

–Year end backlog at highest level in recent quarters

•Pharma mergers and consolidation

•Key developments:

–Validated Daikyo Crystal Zenith 1ml single cavity manufacturing cell

•Four cavity cell installed late Q4; commercial production should start Q3 2010

–Plastef acquisition completed

–Officially opened China Plastics facility

–Announced plans to restructure and re-align operating segments in Q4

2009 in Retrospect

6

2009 Revenue Growth vs. Prior Year Period
by Business Segment

7

•Ex-Currency, Growth was:

$ 32.2Revenue (13.2%)

$ 10.2Gross Profit (14.7%)

$2.2Adjusted Operating Profit (7.9%)

•Currency translation added:

$ 16.3 Revenue

$4.1 Gross Profit

$1.8 OperatingProfit

•Major Changes:

–H1N1-related, prefillable component,
and metal seal sales

–Lower relative SG&A costs

8

Sales and Income from Continuing Operations
($ in millions)

9

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

•Analyzing future impact of US healthcare
legislation

•Global pharmaceutical revenue growth projected to
be 4-6% (per IMS) on modest unit growth

•North America growth projected at 4.5 - 5.5%

•Europe growth moderate 2-4%

•Emerging economies should grow > 10% (India, China, Brazil)

•Return to more normalized order patterns

•Further consolidation - e.g Teva - Ratiopharm

2010 Business Environment

10

2010 Expectations and Milestones

•Revenue Growth: 3% to 5% (excluding currency)

–Consolidated revenues: $1,090 - $1,120 million1

•Consolidated Gross Margin of 30.5%

•Adjusted Diluted2 EPS:$2.19 to $2.39

•Validate new Daikyo CZ production cell

•Secure first Daikyo CZ commercial program

•Break ground on China rubber facility

1.The principal currency assumption in these estimates is for the translation of the Euro at $1.40 for
2010.

2.“Adjusted Diluted EPS” refers to earnings per share excluding expected restructuring charges of
between $0.02 and $0.04 per share.

11

Pharmaceutical Packaging
Systems

(How drugs are contained)

Primary Container Solutions

Pharmaceutical Delivery
Systems

(How drugs are administered)

Administration Systems

Business Unit Re-alignment

•Safety systems (NovaGuard, Eris)

•Reconstitution systems -
MediMop

•CZ prefillable syringe systems

•Advanced Injection Systems
(Confidose)

•Tech Group Contract
Manufacturing

•Small volume parenteral
packaging

•Large volume parenteral
packaging

•Prefillable syringe components

•Disposable medical device
components

•Diagnostic, dental, veterinary
packaging

12

Five-Year Growth Opportunity

$2 billion combined markets for safety,
prefilled and auto-injectors, with unit
growth 6-12%, depending on product and
therapeutic segment

Strategic Planning Goals:

•Projected 2014 sales of $0.6 billion

•Projected 2014 Operating margin: 20%

$1.5 billion market for components with unit
growth 0% to 8% per year, depending on
product and therapeutic segment

Strategic Planning Goals:

•Projected 2014 sales of $1.0 billion

•Projected 2014 Operating margin: 20%

Pharmaceutical

Packaging Systems

Primary Container Solutions

Pharmaceutical Delivery
Systems

Administration Systems

Consolidated 2014 Planning Objectives

•2014 Sales: $1.6 billion

•2014 Operating Margin: 19%

•2014 Consolidated ROIC: 17%

13

Long Term Business Drivers

•Demographics

•Growth in Biologics & Vaccines

•Requirement for easy, safe,
accurate dosing

•Combination product growth

•Generic growth

•Increasing global access to
advanced healthcare

West supplies sophisticated
packaging systems for the top 20
biologic drugs (by sales) currently
on the market.

14

Therapeutic Category Drivers

Category	Key Customers	Projected Growth
Diabetes		8 - 10%
Oncology		6 - 8%
Vaccines		4 - 6%
Autoimmune		6 - 8%

15

Our Growth Strategy

West’s Competitive Advantages:

•Unmatched expertise in drug -
material interactions

•Market leader in packaging for
biologics

•Protected IP: Proprietary materials
and processing technology - Drug
Master File (DMF) 1546

•Regulatory barriers to entry:

US NDAs and ANDAs
require proof of stability

•Global technical support

Pharmaceutical Packaging
Systems

(How drugs are contained)

Primary Container Solutions

•Therapeutic segment focus

•Generate incremental value per
unit

•Leverage changing regulatory
environment

•Optimize manufacturing
productivity

•Strategic acquisitions

•Geographic expansion

•China

•India

16

Value Proposition

PROPRIETARY

PRODUCTS

Revenue and

Margin
Opportunity

Disposable Device

Disposable Device

Components

Components

Westar® RS

Mix2Vial®

NovaGuard™

éris™

Westar® RU

Standard
Components

Standard
Components

Consumer

Consumer

Products

Products

Packaging

Delivery

17

Our Growth Strategy

•Concentrate on systems for unmet
market needs

•Build market share in multi-
component systems for drug
administration utilizing Daikyo CZ as
a platform technology

•Production supported by existing
design, multi-material molding, and
assembly capabilities

•Expand through innovation and
strategic technology acquisitions

Pharmaceutical Packaging
Systems

Primary Container Solutions

Pharmaceutical Delivery
Systems

Administration Systems

•Therapeutic segment focus

•Generate incremental value per
unit

•Leverage changing regulatory
environment

•Optimize manufacturing
productivity

•Strategic acquisitions

•Geographic expansion

•China

•India

18

Pharmaceutical 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)

19

Management Focus

•Pharmaceutical Packaging Systems

–Organic growth (on average) of 3-5% per year

–Margin expansion through improved operating efficiency, product mix

–Capital investments targeted at enhanced quality and value

•Pharmaceutical Delivery Systems

–Deliver the potential of Daikyo CZ products

–Increase healthcare-consumable contract manufacturing revenue

–Grow proprietary safety and delivery system businesses

•Financial discipline

–Operating cash flow: Discretionary SG&A, R&D and capital spending
that are supported by revenue growth.

–Deliver returns on invested capital (“ROIC”) that regularly exceed
weighted average cost of capital (“WACC”).

–Align incentives with financial performance and value creation

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Summary

•A valuable franchise

–Substantial market share

–Proprietary technology

–Diversified Customer Base

–Global footprint

•Positioned to grow

–Strength in new product
pipeline

–Preferred products for
biologics

•With the financial strength to
invest

–Reliable operating cash
flow

–Balance sheet strength

•Led by an experienced
management team

–Aligned incentives

Injectable Container Solutions

Advanced
Injection
Systems

Prefillable Syringe Systems

Safety and
Administration Systems

21

Donald E. Morel

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

Barclays 2010 Global Healthcare Conference

Miami, FL

March 24, 2010

NYSE: WST

westpharma.com

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