West Pharmaceutical Services Acquires Monarch Analytical Laboratories
West Pharmaceutical Services Acquires Monarch Analytical Laboratories
Feb. 14, 2005
LIONVILLE, Pa.--Combined Laboratory Offers Comprehensive Analytical Testing and Qualifying Services for Pharmaceutical Packaging and Delivery Systems
West Pharmaceutical Services, Inc. (NYSE: WST) today announced its acquisition of Monarch Analytical Laboratories, Inc. of Maumee, Ohio. Monarch had 2004 sales of approximately $3.0 million and West is acquiring all of the outstanding stock of Monarch Analytical Laboratories in exchange for cash, assumed liabilities and West shares totaling $5.6 million.
Monarch provides some of the largest U.S. pharmaceutical and medical device companies with a variety of analytical testing services from its facility, just outside of Toledo, Ohio. West currently provides analytical laboratory services from its facilities in Lionville, Pennsylvania. The combined laboratories will operate under the name WEST MONARCH Analytical Laboratories. West plans to continue operating both the Pennsylvania and Ohio facilities and to retain the majority of Monarch's 20 employees.
WEST MONARCH Analytical Laboratories will offer a comprehensive menu of sophisticated analytical testing services for glass, plastics and elastomer packaging components to help global pharmaceutical manufacturers meet worldwide container/closure and packaging regulatory guidelines. Monarch's extensive capabilities and experience in glass and plastics testing will complement West's extensive portfolio of services, most significantly, extractable and leachable testing for elastomer components, which West manufactures and represents its largest product group. Clients will benefit from the combined resources and capabilities.
"Monarch Analytical Laboratories represents an excellent strategic fit that enables West to provide our customers with a broader range of analytical testing services," said Herbert L. Hugill, President of the Americas Region, West Pharmaceutical Services. "Monarch's expertise and experience in testing nasal and inhalation devices brings added strengths to West's current portfolio of services. Together, we can better assist our pharmaceutical clients to develop data that is critical to their product-related regulatory submissions. They, in turn, can focus their resources on discovering and developing new drugs, biologics and medical devices."
West Pharmaceutical Services, Inc. is the world's premier manufacturer of standard-setting components and systems for injectable drug delivery. The company's products include stoppers and seals for vials, multi-piece tamper-resistant plastic closures and disposable components used in syringe, IV and blood collection systems. West's global customer base includes the world's leading manufacturers of pharmaceuticals, biologics and medical devices. Millions of West products are used by people around the world every day in the delivery of healthcare, with additional applications in personal care and food and beverage. Internationally headquartered in Lionville, Pennsylvania, West employs 4,000 employees and supports its partners and customers from 50 locations throughout North America, South America, Europe, Mexico, Japan, Asia and Australia. For more information, visit West at www.westpharma.com.
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