West Names New President of Pharmaceutical Packaging Systems

West Pharmaceutical Services, Inc. (NYSE: WST) has appointed Jeffrey C. Hunt President of the Company's Pharmaceutical Packaging Systems business, previously headed by Steven A. Ellers, the Company's President and Chief Operating Officer, who is planning to retire. Pharmaceutical Packaging Systems is a global business and is the Company's largest, generating annual sales revenue of nearly $800 million.

Mr. Hunt, 52, joined West in July 2010 as Vice President, Strategic Planning and Business Development. He has over 23 years of experience in medical device and related businesses. Prior to joining West, he served as President of the $1.4 billion Patient Care and Safety Products Global Business Unit of Covidien, Mansfield, Mass. Prior to that, he was Vice President and General Manager of the SharpSafety Division of Tyco Healthcare/Kendall.

"Jeff joined West with a proven record of developing and implementing successful strategic initiatives in the med-device business units that he has managed," said Donald E. Morel, Jr., Ph.D., Chairman and Chief Executive Officer. "Since joining us, he has been working with the senior management team on our long-term business strategy and M&A efforts, and through those processes, developed key management relationships and acquired a deeper understanding of our operations. He is very well suited and prepared to lead Pharmaceutical Packaging Systems."

Mr. Hunt replaces Steven A. Ellers, 60, who resigned his position as President and Chief Operating Officer in anticipation of his retirement during the first half 2011. He will provide further transitional support to Mr. Hunt and senior management in the interim. Mr. Ellers joined West in 1983 as Manager of International Finance and held senior management positions in operations, sales and finance prior to his appointment to his current position in 2005. Commenting on Mr. Ellers' retirement, Dr. Morel said, "Throughout his career with West, Steve has held critical leadership positions and has played a significant role in the Company's growth. Steve served West around the world, including assignments in South America and Singapore and three years as Chief Financial Officer. We are grateful to Steve for his dedication and service to West, and for his recent efforts to insure an orderly succession. We wish him the very best."

Separately, Warwick Bedwell has been appointed President of the Pharmaceutical Packaging Systems' Asia-Pacific region, succeeding Ronald Van Dijk, who has concluded his assignment in Asia. Mr. Bedwell will report to Mr. Hunt. Prior to joining West, Mr. Bedwell served as President and General Manager of Roche (Philippines) Inc. and in managerial positions for Roche and Schering-Plough in Australia and, most recently, Vice President and Commercial Director – Bone and Rheumatology for Roche Products (UK) limited.

West Pharmaceutical buys Plastef Investissements

LIONVILLE, Pa. — Medical products maker West Pharmaceutical Services Inc. said Tuesday it bought the drug delivery device assets of Plastef Investissements SA for an undisclosed amount, in a move to complement its safety needles.

Under the deal, West Pharmaceutical gained the right to make the eris safety syringe, which is a safety system for prefillable syringes. The company said operations at Plastef's production facility in France will continue.

West Pharmaceutical said the buyout is expected to increase sales revenue between $5 million and $7 over the remainder of 2009, however, the acquisition won't materially affect the company's earnings per share.

Shares of West Pharmaceutical fell 20 cents to $33.36 in morning trading.

On the Boards

Penn Virginia Resource Partners, L.P., a Radnor energy company, said Thomas W. Hofmann was elected to the board of its general partner, Penn Virginia Resource GP L.L.C. Hofmann is the retired senior vice president and chief financial officer of Sunoco Inc., Philadelphia, and is a director of West Pharmaceutical Services Inc., Lionville.

The Committee of Seventy, a nonpartisan organization that advocates for clean and effective government, fair elections, and a better-informed citizenry, elected the following members to its executive committee:

Michael C. Carbone is president, metro Philadelphia market, at TD Bank N.A.

Anthony J. Conti is managing partner at PricewaterhouseCoopers L.L.P., Philadelphia.

Joseph A. Frick is president and chief executive officer of Independence Blue Cross, Philadelphia.

Michael R. Stiles is senior vice president, administration and operations, for the Philadelphia Phillies.

Teleflex Inc., a publicly held Limerick company that makes devices for the medical and aerospace fields, named Stuart A. Randle to its board. He is president and chief executive officer of GI Dynamics Inc., Watertown, Mass.

The Brandywine Health Foundation, a Coatesville nonprofit health-related services organization, named the following to its board:

Gregory M. Cary is the regional external affairs manager for Peco Energy Co. and chairman of Honey Brook Township.

Elizabeth Silvia Wood is an attorney at Fox Rothschild L.L.P., Exton.

James D. Ziegler is president of the Coatesville Savings Bank.

White-Williams Scholars, a nonprofit organization that provides financial and academic support to high-achieving low-income Philadelphia public high school students, named its new slate of officers to its board of trustees:

Ed Covington, senior vice president of community development finance, Northeast Region market manager at Wachovia Corp., is president.

Gordon Fowler, executive vice president and chief investment officer at Glenmede Trust Co., Philadelphia, is vice president.

Jennifer Daley, senior director of corporate finance at Comcast Corp., Philadelphia, is treasurer.

Sharon Ingram, retired vice president of human resources at Comcast, is secretary. - Mike Zebe

West Pharmaceutical Services Announces Third Quarter Dividend

LIONVILLE, Pa., - West Pharmaceutical Services, Inc. (NYSE: WST) today announced that its Board of Directors approved a third quarter 2009 cash dividend of $0.15 per share. The dividend will be paid on August 5, 2009 to shareholders of record on July 22, 2009.

West Pharmaceuticals 1Q Inline With Estimates

West Pharmaceutical Services(WST Quote) reported that its earnings dropped 41.2% during Q1 FY09. Net income attributable to the shareholders for the quarter declined to $15.40 million or $0.46 per share from $26.20 million or $0.76 per share in Q1 FY08. On a non-GAAP basis, earnings of $0.42 per share were inline with the most recent consensus estimate.

Revenue declined 10.5% to $242.40 million from $270.70 million a year ago, due to adverse currency translation. The decrease in sales was also due to the absence of sales of the discontinued Exubera inhalable insulin device and a disposable medical device component that the company ceased producing. Segment-wise, revenue from the Pharmaceutical Systems segment slipped 11.7% to $183.20 million from $207.50 million. Sales of Safety and Administration Systems and Devices declined as a result of a customer-driven delay, while Disposable Device Component sales were approximately 5.3% lower on a constant currency basis. The Tech Group's revenue declined 6.2% to $62.30 million from $66.40 million.

Cost of goods sold fell 7.5% to $173.10 million from $187.20 million. Research and development expenses dropped 20.4% to $4.30 million from $5.40 million. However, selling, general, and administrative expenses spiked 7.0% to $42.90 million from $40.10 million.

WST approved Q2 FY09 cash dividend of $0.15 per share payable on May 6, 2009. The company received U.S. Food and Drug Administration (FDA) clearance for its passive safety needle device for marketing in the U.S. The device will be marketed as NovaGuard.

Looking forward to FY09, West Pharmaceutical Services Inc. expects consolidated sales in the range of $1.00 billion to $1.02 billion with adjusted earnings in the range of $2.05 to $2.18 per share.