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West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, today announced that the company has reached a definitive agreement to sell all manufacturing and supply rights for SmartDose® 3.5mL On-Body Delivery System and associated facilities to AbbVie (NYSE: ABBV) for total consideration of $112.5 million at close, subject to working capital and other adjustments. The definitive agreement, which is subject to certain closing conditions, is expected to close in mid-2026.
West is committed to the continued commercial supply of SmartDose® 3.5mL On‑Body Delivery System along with the execution of ongoing critical project execution commitments prior to close, which includes the potential for future project payments on achievement of milestones prior to closing.
"West pioneered the innovation of the on-body delivery device technology for complex injectable medicines, which has improved the lives of people around the world," said Eric M. Green, President, Chief Executive Officer and Chair of the Board. "As part of our portfolio review, we have determined it is best to transition the SmartDose 3.5mL product to AbbVie. This decision aligns with our ongoing commitment to our customer development pipeline and patient-centric approach for large dose on-body delivery devices to drive durable and profitable growth."
SmartDose 3.5mL On-Body Delivery System revenues are anticipated to be approximately 4 percent of revenues in fiscal year 2025. The company expects to provide additional details when it gives 2026 guidance on its fourth quarter 2025 earnings call in February. West will continue to develop and manufacture all other versions of SmartDose, including SmartDose® 10mL On-Body Delivery System, adaptive technology for larger volumes.
About West
West Pharmaceutical Services, Inc. is a leading provider of innovative, high-quality injectable solutions and services. As a trusted partner to established and emerging drug developers, West helps ensure the safe, effective containment and delivery of life-saving and life-enhancing medicines for patients. With over 10,000 team members across 50 sites including 25 manufacturing facilities worldwide, West helps support our customers by delivering over 41 billion components and devices each year.
Headquartered in Exton, Pennsylvania, West in its fiscal year 2024 generated $2.89 billion in net sales. West is traded on the New York Stock Exchange (NYSE: WST) and is included on the Standard & Poor's 500 index. For more information, visit www.westpharma.com.
All trademarks and registered trademarks used in this release are the property of West Pharmaceutical Services, Inc. or its subsidiaries, in the United States and other jurisdictions, unless otherwise noted.
Forward-Looking Statements
This release contains statements that constitute forward-looking statements within the meaning of federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may include such words as "expected," "anticipated" and other similar terminology. These statements are based on management's current expectations, estimates, and include, but are not limited to, statements in this press release regarding the anticipated timing of closing of the sale of the SmartDose 3.5mL manufacturing and supply rights to AbbVie, the expected proceeds from the transaction, the anticipated revenues from the SmartDose 3.5mL On-Body Delivery System for fiscal year 2025, and other future events. These forward-looking statements are subject to risks, uncertainties and other factors that are in some cases beyond our control. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to: the ability to obtain required regulatory approvals; the satisfaction of closing conditions on a timely basis; and failure to realize the anticipated benefits of the transaction. For a description of certain additional factors that could cause the Company's future results to differ from those expressed in any such forward-looking statements, see the Company's Annual Report on Form 10-K for the year ended December 31, 2024, including the section captioned "Item 1A, Risk Factors" and other filings with the United States Securities and Exchange Commission, including any updates to the risk factors in the Company's quarterly reports on Form 10-Q and current reports on Form 8-K.
The forward-looking statements included in this communication are made only as of the date hereof. 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.
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SOURCE West Pharmaceutical Services, Inc.
