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) – September 22, 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)

610-594-2900

(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 September 9, 2010, West Pharmaceutical Services, Inc. announced that Donald E. Morel, Jr., Ph.D., Chairman and Chief Executive Officer, and William J. Federici, Chief Financial Officer, will present at the UBS 2010 Global Life Sciences Conference in New York, NY on September 22, 2010 at 11:30 AM ET.

A copy of the presentation materials they will use at the conference is attached to this Report as Exhibit 99 and is incorporated herein by reference.  The materials will also be available for 30 days through the Investors link at the Company’s website, http://www.westpharma.com.

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

Item 9.01 Financials Statement and Exhibits

(d)	Exhibits
	99	West Pharmaceutical Services, Inc. Corporate Overview (Investor Presentation Materials).

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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

September 22, 2010

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EXHIBIT INDEX

Exhibit No.	Description
99	West Pharmaceutical Services, Inc. Corporate Overview (Investor Presentation Materials).

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EX-99

WEST CORPORATE OVERVIEW

Solutions for Injectable Drug Delivery

UBS Global Life Sciences Investor Conference

September 22, 2010

Donald E. Morel Jr, Ph.D.

Chairman and Chief Executive Officer

NYSE: WST

www.westpharma.com

SAFE HARBOR STATEMENT

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.

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CORPORATE PROFILE

Injection Systems

Administration Systems

Crystal Zenith Syringes

Packaging Systems

•Premier partner to the pharmaceutical and
biotech industry

•For more than 85 years, a global leader in the
development of innovative systems for packaging
and delivery of injectable drugs:

•Primary closure systems for therapeutics used
for both human and animal health

•Components for diagnostic and prefilled
syringe systems

•Devices and device sub assemblies

•Reconstitution and administration systems

•Stable, diverse customer base

•2009 sales: $1.06 billion

•Global footprint that provides sales, technical
support, and supply chain risk mitigation for our
customers

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Every day over 80 million West products enhance the quality of healthcare worldwide.

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32 Manufacturing sites

34 Sales locations

Technical centers

Partner locations

GLOBAL PRESENCE

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SALES GROWTH 2002 - 2009

Net sales in millions

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Sales CAGR14.4%

•Global economic conditions unsettled

•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%

•“Pharmerging” markets should grow > 10% (India,
China, Brazil and others)

•Managing through:

•Impact of US healthcare legislation

•Industry mergers and consolidation

•Changing customer order/inventory patterns: unpredictability

•Currency volatility

CHALLENGING BUSINESS ENVIRONMENT

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$ millions, except per share data	2010	2009
Net Sales	$281.8	261.0
Gross Margin	29.5%	30.2%
Research & Development	$5.7	$4.7
Selling, General & Administrative Exp.	$45.8	$45.1
Net Income	$21.7	$19.7
Diluted EPS - GAAP	$0.62	$0.57
Diluted EPS - Non-GAAP*	$0.64	$0.58

* Second quarter 2010 diluted EPS - Non-GAAP excludes $0.02 per share for restructuring charges and tax
items. Second quarter 2009 diluted EPS - Non-GAAP excludes $0.01 per share for restructuring charges.

SECOND QUARTER RESULTS

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•Major items impacting August 3, 2010 guidance
revisions

•Currency effects (e.g., revised estimate at $1.30 /€1 vs. $1.36)

•Increased R&D spending on new product programs

•Caution regarding profitability on less predictable sales mix

•Comparative results vs. 2009

•Currency (e.g., estimated $1.30 = €1 2010 vs. $1.45 in 2009)

•Unusually strong second half of 2009

•$22 million of 2009 H1N1 sales

Second Quarter Guidance

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•Demographics

•Increasing global access to
advanced healthcare

•Generic growth

•Requirement for easy, safe,
accurate dosing

•Combination product growth

•Growth in biologics and vaccines

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

LONG-TERM BUSINESS DRIVERS

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Category	Key Customers	Projected Growth
Diabetes		> 10 %
Oncology		> 10 %
Vaccines		> 10 %
Autoimmune		>8%

IMS April 2010 Report; Business Insights 2009; GBI Research 2009

THERAPEUTIC CATEGORY GROWTH
DRIVERS

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WEST’S STRUCTURE

•2009 sales: $776 million

•Established leadership

•High market share

•Stable growth rate

•2009 sales: $285 million

•Proprietary devices

•Contract manufacturing

•High projected growth rate

Development

Primary Package

Administration

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PACKAGING SYSTEMS

•2009 sales: $776 million

•Over 36 billion parts produced
annually

Proprietary Products

•NovaPure™, Westar® RS & RU

•FluroTec®

•Envision™

Key Therapeutic Categories

•Vaccines

•Oncology

•Diabetes

•Autoimmune disease

•Diagnostics

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West’s Competitive Advantage:

•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 manufacturing footprint

•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

PACKAGING SYSTEMS GROWTH STRATEGY

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Westar® RS

State-of-the-art

ready-to-sterilize

elastomer closures

Westar® RU

State-of-the-art

ready-to-use

syringe plungers

and closures

Envision™

Technically advanced,

automated vision

inspection system

NovaPure™

Unrivaled

quality…by

design

HIGH-VALUE PRODUCTS DRIVE GROWTH

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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

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FASTER GROWTH of HIGH-VALUE PRODUCTS
Pharmaceutical Packaging Systems

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DELIVERY SYSTEMS

Contract Manufacturing

•2009 sales: $242 million

•Over 100 million parts produced and
assembled annually

Proprietary Products

•2009 sales: $43 million

•Reconstitution, Daikyo CZ systems,
syringe safety, self-administration

Synergies

•Marketing

•Engineering

•Project management

•Manufacturing

•Capacity

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•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

DELIVERY SYSTEMS GROWTH STRATEGY

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FOUNDATION OF DELIVERY SYSTEMS

Daikyo CZ
Insert Needle
License:
Prefillable
Syringe
Systems

Acquisition
of Plastef:
Prefillable
Syringe Safety

Acquisition of
The Tech Group:
Manufacturing &
Engineering

Established
Proprietary
Innovation Initiative

Acquisition of
Medimop:
Administration
Systems

Licensing of
NovaGuard™:
Luer Syringe
Safety System

Acquisition of
PharmaPen:
Auto-injector
System for Self-
Administration

2005

2006

2007

2008

2009

NovaGuard™ is a trademark of West Pharmaceutical Services, Inc.,
in the United States and other jurisdictions.

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2010

Acquisition of
LaModel

INTEGRATED SOLUTIONS FOR CONTAINER,
ADMINISTRATION AND INJECTION SYSTEMS

Daikyo Crystal Zenith®

Bulk Drug

Containers

Vials &
Plastic Caps

Insert Needle
& Luer Lock
Syringes

Cartridges

Novel Devices

Administration Systems

Injection Systems

Reconstitution
& Transfer
Systems

NovaGuard™
Needle Safety

ConfiDose®
Auto-Injector
System

Eris ™
Needle Safety

Crystal Zenith® is a registered trademark of Daikyo Seiko, Ltd.

ConfiDose®, NovaGuard™ and Eris™ are registered trademarks and trademarks of
West Pharmaceutical Services, Inc. in the United States and other jurisdictions.

The Eris needle safety device is not for sale in the United States.

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Microinfusion
System

LIFE CYCLE PLANNING

Bulk Drug

Vial Format

Prefillable Syringe

Auto-injector System

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From early phase bulk drug
containment to auto-injector

DAIKYO CRYSTAL ZENITH®
INSERT NEEDLE SYRINGE

•Pharmaceutical company benefits

•Silicone-oil free container

•Tungsten free

•Glue free

•Lower dead space

•Reduced risk associated with breakage,
waste and potential for recall

•Auto-injector system benefits

•Consistent break-loose and glide forces

•Break resistant

•Tight dimensional tolerances

•Design flexibility of plastics

•Highest quality

•100% vision inspection

•X-ray inspection of needle

•Automated, clean
production process

Prefillable Syringe Systems

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Phase III

•Production Cell

•4 cavity system (~ 3 million
units annually)

•ISO 7 (Class 10,000)
Scottsdale

•Automated handling

•Vision (100% in line)

•X Ray (100% in line)

DAIKYO CRYSTAL ZENITH® 1mL LONG
INSERT NEEDLE SYRINGE SYSTEM

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CONFIDOSE® AUTO-INJECTOR SYSTEM

•Disposable auto-injector
system

•1mL long Insert needle syringe
(glass or CZ)

•Reduces risk of glass breakage
and syringe variability issues

•High viscosities possible

•Hidden needle and full
retraction for safety

•Simple 3-step process

•Audible, visual and tactile
indicators

ConfiDose® is a registered trademark of West Pharmaceutical Services, Inc.,
in the United States and other jurisdictions.

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NEEDLE SAFETY SYSTEMS

•NovaGuard™ for Luer connection

•Only FDA cleared passive
system for Luer lock syringes

•Eris for staked needle†

•>125 million units manufactured
per year

•Market leading safety system
for staked needle syringes

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Customer evaluation ongoing

•Needle hiding

•Needlestick safety

•Drug product differentiator

†The eris safety needle device is not for sale in the United States

SUB-Q MICROINFUSION SYSTEM

•Controlled subcutaneous delivery
of high volumes and high
viscosity

•Prefilled cartridge, no need for
user filling

•Based on Daikyo CZ cartridge

•Compact

•Hidden needle for safety

•Single push button operation

•Programmable

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•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

OUR LONG-TERM FOCUS

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Strategic Planning Goals:

•Projected 2014 sales of $0.6 billion

•Projected 2014 Operating margin: > 20%

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%

FIVE-YEAR GROWTH OPPORTUNITY

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Five-Year Growth Opportunity:

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•Well positioned

–Substantial market share

–Proprietary technology

–Diversified customer base

–Global footprint

•Significant Growth Potential

–Strength in new product pipeline

–Preferred products for biologics

•The financial strength to invest

–Reliable operating cash flow

–Balance sheet strength

•An experienced team

Injectable Container Solutions

Advanced
Injection
Systems

Prefillable Syringe Systems

Safety and Administration
Systems

SUMMARY

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WEST CORPORATE OVERVIEW

Solutions for Injectable Drug Delivery

NYSE: WST

www.westpharma.com

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