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Fly News Breaks for April 23, 2019
WST
Apr 23, 2019 | 09:03 EDT
As previously reported, William Blair analyst John Kreger started West Pharmaceutical Services with an Outperform rating, stating that he sees the stock as "an excellent, lower-risk way" to participate in the pharmaceutical industry's shift toward large molecule biologics in injectable dosage forms that need special packaging, delivery, and sterility. He cites three reasons that he views outsourced pharmaceutical packaging as an "attractive, defensive growth industry," namely that drug innovation is trending toward injectable dosage forms; innovation is shifting to smaller clients less likely to have in-house development and manufacturing expertise; and the industry's high regulatory burden makes it hard, and costly, to shift manufacturing once a product is approved. Kreger forecasts West can generate mid- to high single-digit organic revenue growth and low-double-digit earnings growth, he noted.
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