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) – January 12, 2011

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)

Registrant’s telephone number, including area code: 610-594-2900

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 (see General Instruction A.2. below):

¨ 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 January 12, 2011, Donald E. Morel, Jr., Ph.D., our Chairman and Chief Executive Officer, and William J. Federici, our Vice President and Chief Financial Officer, plan to present at the CJS Securities 11th Annual “New Ideas for the New Year” Investor Conference in New York, NY at 10:30 AM ET.

A copy of the Company’s presentation materials 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 and incorporated herein by reference.

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

Item 9.01.  Financial Statements and Exhibits

(d)	Exhibits
	Exhibit 99.1	West Pharmaceutical Services, Inc. Update (Investor Presentation).

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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

January 12, 2011

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EXHIBIT INDEX

Exhibit No.	Description
99.1	West Pharmaceutical Services, Inc. Update (Investor Presentation).

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EX-99.1

WEST PHARMACEUTICAL SERVICES UPDATE

Solutions for Injectable Drug DeliveryNYSE:WSTwww.westpharma.com

CJS Securities’

11th Annual “New Ideas for the New Year”

Investor Conference

New York, NY January 12, 2011

This presentation contains “forward-looking statements”, as that term is defined in the Private
Securities Litigation Reform Act of 1995, 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.

Safe Harbor Statement

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West is a globally diversified manufacturer of products consumed in the healthcare and
consumer markets.

Every day over 80 million West and Daikyo products are used to enhance the quality of
healthcare worldwide.

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A Diverse, Stable Customer Base

Pharmaceutical/Biotech

Generic

Medical Device

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West’s Structure

Packaging Systems

•9-month 2010 sales: $591 MM

•Established leadership

•High market share

•Stable growth rate

Delivery Systems

•9-month 2010 sales: $240 MM

•Proprietary devices

•Contract manufacturing

•High projected growth rate

Development

Primary Package

Administration

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2010 Retrospective

•Operating Challenges:

–Currency volatility

–Increased R&D spending on new product programs

–Manufacturing footprint: Phased reductions of operations at St. Austell,
UK and Montgomery, PA plants announced in Q4

•Nine-Months ended September 30, 2010

–Sales up 8.6% (9.4% excluding currency effects)

–Operating Profit up 11.9%

–Earnings per Diluted Share $1.70 vs $1.53

–Capex $49.8 million

•Q4, Full-year 2010 results to be announced February 17, 2011

•Second-half 2009 results yield difficult 2010 comparisons:

–$22 million of 2009 H1N1 Sales, of which $12 million were in Q4 ‘09

–Average $/Euro exchange of $1.45 in second half 2009, $1.48 in Q4 ’09

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2011 Outlook

•Asymmetrical global economic recovery

–Europe, US, Japan remain sluggish

–China, India, Brazil stronger

–Continuing currencies, commodity price volatility

•New product approvals delayed

–Bydureon

–Benlysta

–Expansion of indications for approved drugs difficult (Avastin)

•Broader trends in Pharma/Device markets continue:

–Generic shift to India

–Pharma M&A - shift to large molecules

–Rising competitive and pricing pressures

•More demanding regulatory environment

•Anticipate revenue growth of 3-5%, excluding currency effects.

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•Packaging Systems Segment

–Demographics and increasing prevalence of chronic disease

–Biologics

–Growth in Emerging Markets

–Increased access to Healthcare

–Escalating quality expectations: “Zero Defects”

•Delivery Systems Segment

–Glass compatibility/breakage issues

–Demand for combination products that promote safety, dosing accuracy,
ease of use, and deliver cost savings

Growth Drivers

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•Packaging Systems (Pharm Systems) Segment

–The Global Quality Initiative

•Grow incremental value per unit - e.g WESTAR RU Launch

–Geographic expansion - capacity investments in Asia

–Improved operating efficiency: lean operations

–Strategic acquisitions and partnerships

•Delivery Systems (Tech Group) Segment

–Expand proprietary offerings

–Capitalize on emerging CZ opportunities

–Develop new platform opportunities - combination products

Growth Strategy

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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

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Therapeutic Category Growth Drivers

Traditional Pharmaceutical Delivery

West MixJect®
and Vial2Bag®

Prefilled Glass
Cartridge and
Pen

Glass
Vials
and
Syringes

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High-Value Products Drive Growth

Westar® RS

State of the art

ready-to-sterilize

elastomer closures

Westar® RU

Sterile ready-to-
use syringe
plungers and
closures

Envision™

Technically advanced,

automated vision

inspection system

NovaPure™

Unrivaled

Quality…by

design

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Value Proposition

Proprietary
Products

Revenue and
Margin
Opportunity

Disposable Device
Components

Westar®RS

Mix2Vial®

NovaGuard™

éris™

Westar® RU

Standard
Components

Consumer
Products

Packaging

Delivery

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Faster Growth of High-Value Products
Pharmaceutical Packaging Systems

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Future Pharmaceutical Delivery

West
ConfiDose®
Auto-injector
System

West
Electronic
Patch-injector

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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

Reconstitution
& Transfer
Systems

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

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

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Electronic
Patch Injector

Injection Systems

NovaGuard™
Needle Safety

ConfiDose®
Auto-Injector
System

Eris™
Needle Safety

Prototype
Intradermal
Adapter

Concerns With Glass Syringes

•Interaction with sensitive biologics

•Protein aggregation (silicone oil)

•Residual chemicals (tungsten, glue)

•Glass flakes

•Breakage

•In process

•Within auto-injector systems

•Recent FDA recalls

•Dimensional variation

•Breakage in auto-injector systems

•Designed for manual injection

•Variable silicone distribution

•Amount of silicone coverage

•Age of barrel

•Inconsistent break force and
sustaining-force

•Quality

•Cosmetic defects

•High levels of inspection necessary

•High “cost of quality”

Siliconized Glass Syringe

Crystal Zenith Syringe

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2010 Glass-related Recalls

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Electronic Patch Injector System

•Controlled, subcutaneous, micro-
infusion delivery of high volumes
and high viscosity drugs

•Prefilled cartridge, no need for
user filling

•Based on Daikyo CZ cartridge

•Compact

•Hidden needle for safety

•Single push-button operation

•Fully programmable

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Prototype Electronic Patch Injector Operation

Programmed by PDA or PC

Dose may be customized

Attached and activated by patient

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Our Long-Term 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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Long-Term Growth Opportunity

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%

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Summary

•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

•2010 Year-end call

–February 17, 2011 - 9:00AM

Injectable Container Solutions

Advanced
Injection
Systems

Prefillable Syringe Systems

Safety and Administration
Systems

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WEST PHARMACEUTICAL SERVICES UPDATE

Solutions for Injectable Drug DeliveryNYSE:WSTwww.westpharma.com

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