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West Pharmaceutical Services Inc. (WST) reported Q2 2025 net sales of $766.5 million, up 9.2%, driven by 10.7% growth in Proprietary Products amid biologics demand. Gross margins expanded to 35.7% via efficiencies and pricing. Half-year net income was $221.6 million. Strong cash flow of $306.5 million supports $146.5 million capex and $134 million repurchases. Restructuring targets $35-40 million savings; risks include supply chains and tariffs remain stable. Global ops emphasize innovation in injectables.

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