Can you introduce West Pharmaceutical Services?

CRC: For over a century, we have been a global leader in providing primary packaging for injectable drugs.

Injectable drugs are the fastest-growing drug segment within medicines today, with biologics being the biggest driver of that growth and West maintains a high participation rate with these molecules. We have maintained our position at the forefront of innovation in support of the evolving needs of drug delivery and containment. Notably, our elastomer portfolio plays a significant role in securing the safety and sterility of vials, cartridges, and prefilled syringes. Additionally, we have diversified our offerings to include the development of drug delivery devices, both for our customers' intellectual property and our own. What trends are West Pharmaceutical Services observing in the marketplace?

CRC: One significant trend we are witnessing is the transition from hospital-based treatment to home-based treatment. West has been at the forefront of this trend with innovations like our SmartDose® On-Body Delivery System, which was the first large-volume wearable to be approved as a combination product by the FDA. We continue to develop innovative platforms to enable self-administration options in the home, particularly for chronic diseases.

AH: West recently sponsored a global survey of adults with chronic conditions to understand how patients and healthcare providers perceive and consider using self-administered injectables and on-body delivery systems to manage chronic conditions. It assessed several key areas including openness to using self-injectables and on-body delivery systems for the administration of prescription medicines, concerns about using these options, and resources patients need to increase confidence to start using them to help manage chronic conditions. Across all markets, patients and prescribers express strong support for managing chronic diseases with medication that can be self-administered. Indeed, nine out of ten patients and HCPs say the ability to administer injectable medicines at home helps patients lead more independent lives and stay on track with treatments. What do you anticipate will be the primary drivers for West's segment of operation in packaging and manufacturing in 2024?

CRC: In our industry, the drive for heightened quality and compliance remains prominent, fueled by regulatory changes such as those in European medical device regulations and the emergence of combination products. This enduring trend poses a dual landscape of opportunity and challenge, particularly concerning the escalating cost of maintaining quality standards. For example, the current European good manufacturing practice (GMP) Annex 1 revision is causing a seismic shift in drug manufacturing. The regulations have more than tripled in length with this revision, and they contain over 30 references to primary packaging material alone. This recent update to Annex 1 places a significant emphasis on implementing contamination control strategies in the production of sterile medicines. This regulatory shift necessitates extensive collaboration between pharmaceutical companies and their suppliers, including West, as we work to align our contamination control strategies with these new requirements. We have been proactively engaged in this endeavor for several years, developing robust strategies to ensure the delivery of high-quality products to our partners. Could you provide an overview of West Pharmaceutical Services' initiatives in ESG?

CRC: At West, our commitment to environmental sustainability is multi-faceted. We are actively working to minimize our operational carbon footprint by investing in renewable energy sources and implementing energy-efficient practices in our facilities. Additionally, we collaborate closely with our customers to analyze and optimize the carbon emissions associated with our products' lifecycle, identifying opportunities for improvement throughout the supply chain. On the other hand, we are championing green development practices in our product innovation processes. This involves meticulous consideration of the materials we use, the suppliers we partner with, and the packaging solutions we employ. Today, we offer Corning® Viridian™ Vials, a product that provides both performance and sustainability. Pharmaceutical companies use roughly 150,000 t/y of Type 1 glass to make pharmaceutical glass vials. Due to complex regulations, most of this glass is discarded as medical waste each year, filling landfills across the world.​ Viridian™ Vials reduce pharmaceutical glass waste by 20% and vial lifecycle emissions by approximately 30% compared to standard vials and are produced with 100% renewable energy. What is your take on the health of the life science industry in the US in 2024?

CRC: We remain long-term positive in the injectable industry. Coming out of COVID, there were supply constraints, but industries, including ours, were swiftly increasing capacity. From an overall industry trend, acquisitions and pharma M&A are picking up, and projects are resuming, indicating investment.

AH: From a clinical perspective, the health of the life science industry reflects significant growth with promising recent approvals using RNA technologies, CAR T-cell therapy, CRISPR-CAS9 gene editing, and vaccine development, as well as groundbreaking advancements in obesity, Alzheimer’s and oncology.