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 16, 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 November 16, 2011, our management will present at the Lazard Capital Markets 2011 8th Annual Healthcare Conference in New York, New York at 10:00 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. Overview (Investor Presentation).

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 16, 2011

3

EXHIBIT INDEX

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

4

EX-99.1

WEST PHARMACEUTICAL SERVICES, INC.

Solutions for Injectable Drug DeliveryNYSE:WSTwww.westpharma.com

© 2011 by West Pharmaceutical Services, Inc., Lionville, PA.

All rights reserved. This material is protected by copyright. No part of it may be reproduced, stored in a retrieval system, or transmitted in any
form or by any means, electronic, mechanical, photocopying or otherwise, without written permission of West Pharmaceutical Services, Inc.. All
trademarks and registered trademarks are property of West Pharmaceutical Services, Inc., unless noted otherwise.

Lazard Capital Markets 8th Annual Healthcare Conference

New York, NY

November 16, 2011

Safe Harbor Statement

2

Cautionary Statement Under the Private Securities Litigation Reform Act of 1995

This presentation and any accompanying management commentary contain “forward-looking statements”
as that term is defined in the Private Securities Litigation Reform Act of 1995.Such statements include,
but are not limited to statements about expected financial results for 2011 and future years.

Each of these estimates is based on preliminary information, and actual results could differ from these
preliminary estimates.We caution investors that the risk factors listed under “Cautionary Statement” in
our press releases, as well as those set forth under the caption "Risk Factors" in our most recent Annual
Report on Form 10-K as filed with the Securities and Exchange Commission and as revised or
supplemented by our quarterly reports on Form 10-Q, could cause our actual results to differ materially
from those estimated or predicted in the forward-looking statements. You should evaluate any statement
in light of these important factors. Except as required by law or regulation, we undertake no obligation to
publicly update any forward-looking statements, whether as a result of new information, future events, or
otherwise.

Non-GAAP Financial Measures

For the purpose of aiding the comparison of our year-over-year results, we often refer to net sales and
other financial results excluding the effects of changes in foreign exchange rates. These re-measured
results excluding effects from currency translation are not in conformity with U.S. Generally Accepted
Accounting Principles (“U.S. GAAP”) and should not be considered in isolation or as an alternative to
such measures determined in accordance with U.S. GAAP. Additionally, performance measurements
such as compound annual growth rate and gross margin are indicators commonly used in the financial
community, but they are not measures of performance under U.S. GAAP.

Pharmaceutical Packaging Systems

Pharmaceutical Delivery Systems

•Aglobally diverse manufacturer of
products used primarily in containing and
administering small-volume parenteral
drugs.

•Strong competitive position

–Substantial market shares

–Proprietary technology

–Diversified customer base

–Global footprint

–Preferred products for biologics

–Long-term customer relationships

•Stability with growth potential

•Proprietary products

•Geographic expansion

•Financial strength to invest

–Reliable operating cash flow

–Well capitalized

3

Sales($ in millions)

4

Compound annual growth rate: 4.9% (4.3% ex-currency)

Business Segments

$785

$324

2010 Revenues

($ millions)

Delivery Systems

•Contract manufacturing base

•Multi-material

•Project management

•Automated assembly

•Regulated products

•Capabilities + IP =proprietary
delivery devices

•Proprietary devices are
expected to drive growth

Packaging Systems

•Established leadership

•Designed-in revenue base

•Diverse global capabilities

•High market shares

•Steady growth in base

•Increasing unit value of products
and geographic expansion are
expected to enhance growth

5

A Diverse, Stable Customer Base
(representative healthcare customers)

PHARMACEUTICAL / BIOTECHNOLOGY

GENERIC

MEDICAL DEVICE

6

•Company

–Demographics and increasing prevalence of chronic disease

–Increasing use of biologics to treat those

–Broader access to healthcare

•Packaging Systems Segment

–Growth in emerging markets

–Products and processes to satisfy escalating regulatory and quality
expectations

•Delivery Systems Segment

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

–Drug product life cycle management

–Growing customer & regulatory awareness of glass quality issues

What Will Drive Growth?

7

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

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

Therapeutic Category Growth Drivers

8

Pharmaceutical Packaging SystemsPackaging Components for Small Volume Parenterals

Plungers, Tip Caps,
Needle Shields for Glass
Syringes

Plungers, Lined
Seals for Glass
Cartridges for Pens

Primary packaging components (those that touch the drug) are typically
proprietary to West and are “designed into” customers’ drug products

9

Packaging Systems Segment

•Increase per-unit value

•Continued growth of prefilled syringes

•Improve operating efficiency: lean operations

•Geographic expansion - capacity investments in Asia

•Strategic acquisitions and partnerships

Growth Strategy

10

StandardHigh-Value
ProductsProducts

Revenue Opportunity ($ per unit)

Plungers and
sleeve stoppers

Stoppers

Seals

RU seals

Westar® RU

11

Faster Growth of High-Value ProductsPharmaceutical Packaging Systems

12

Pharmaceutical Packaging Systems
Key High-Value Products

•Westar® RS (ready-to-sterilize) and Westar® RU (ready-to-use)
components

•Barrier film coatings (FluroTec®, Teflon® coated) enhance
drug-product stability

–Key feature for biotech products

•B-2 and LyoTec® coatings for enhanced handling and machinability

•Envision™ 100% vision-inspected products

–Eliminate deformation, surface and embedded defects

Teflon® is a registered trademark of DuPont.
FluroTec® technology is licensed from Daikyo Seiko, Ltd.

13

Delivery Systems

ConfiDose®
auto-injector system

Daikyo Crystal Zenith®
life-cycle containment solutions

SmartDose® electronic
patch injector system

MixJect® and
Vial2Bag®

Custom Manufacturing of
Components and Devices

Proprietary Components, Devices and Systems

14

Delivery Systems Segment

•Realize commercial potential of Crystal Zenith products

•Leverage life-cycle management opportunities

•Develop new platform opportunities - combination products

•Custom solution provider

Growth Strategy

15

Revenue per-unit

Consumer product
manufacturing

Medical device
manufacturing

Mix2Vial®

Crystal
Zenith vials

Crystal
Zenith syringes

ConfiDose®

Effect of Increasing Proprietary Device Sales
Contract ManufacturingProprietary Devices
Products

SmartDose ®

16

Daikyo Crystal Zenith® Solution
with Daikyo FluroTec® Barrier Film

•Reduces:

–drug exposure to extractables

–risk of protein aggregation caused by silicone oil in the drug product

–returns and in-process clean-ups caused by broken glass

–risk of delamination and glass-particulate contamination

•Consistent piston release and travel forces without using silicone oil

17

SmartDose®
Electronic Patch Injector

Programmed by PDA or PC

Dose may be customized

Applied and activated by patient

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

•Prefilled cartridge, no need for user filling

•Based on Daikyo Crystal Zenith® cartridge

•Compact

•Hidden needle for safety

•Single push-button operation

Prototype Operation

18

New Product Commercialization
Schematic representation of order and timing of West & Customer activities

Commercial Sales:

Rx product approval
and launch (new
product)

Production using
new West product

Commercial
production

12 456

Approximate timing (years)

19

Our Long-Term Focus

•Pharmaceutical Packaging Systems

–Organic growth of 3-5% per year

–Margin expansion from efficiency, product mix

–Capital investments target enhanced quality and value

•Pharmaceutical Delivery Systems

–Deliver the potential of Daikyo Crystal Zenith® products

–Stronger mix of healthcare-consumable contract manufacturing

–Grow proprietary safety and delivery systems

•Financial discipline

–Operating cash flow supports R&D and capital spending

–Deliver returns (ROIC) that regularly exceed cost of capital (WACC)

–Maintain quarterly dividend

–Align incentives with financial performance and value creation

20

Pharmaceutical Packaging Systems

Pharmaceutical Delivery Systems

•Strong competitive position

–Substantial market shares

–Proprietary technology

–Diversified customer base

–Global footprint

–Preferred products for biologics

–Long-term customer
relationships

•Stability with growth potential

•Proprietary products

•Geographic expansion

•The financial strength to invest

–Reliable operating cash flow

–Well capitalized

Summary

21

On average, approximately 100 million components manufactured by West and
our Global Partners are used to enhance the quality of healthcare worldwide
everyday.

Global Partners with Daikyo Seiko, Ltd. and West Pharmaceutical services Mexico, S.A. de
C.V.

22