AbbVie (NYSE: ABBV) recently announced that it has acquired a West Pharmaceutical Services (NYSE: WST) plant in Tempe, Arizona. North Chicago, Illinois–based AbbVie said on Jan. 12 that it plans to hire roughly 200 employees at the site and invest more than $175 million to acquire, modernize, and fully integrate the facility into its manufacturing…
West Pharmaceuticals expands manufacturing capacity with $80M investment
West Pharmaceutical Services announced that it completed an $80 million capacity expansion at a contract manufacturing site in Michigan. The investment extends production and accessibility for patient-centric diabetes and obesity products at the Grand Rapids facility. It comes in response to increasing demand from West’s customers for device and drug delivery manufacturing solutions to support…
West Pharmaceuticals dips despite strong Q3, raised guidance
West Pharmaceutical Services (NYSE:WST) shares dipped slightly despite third-quarter results that topped the consensus forecast. The Exton, Pa.-based company posted profits of $82.3 million, or $1.09 per share, on sales of $548 million for the three months ended Sept. 30, 2020, for a 46.2% bottom-line gain on sales growth of 0.3%. Get the full story at…