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West Pharmaceutical Services, Inc. to Acquire
Medimop Medical Projects Ltd
Purchase will enhance West's position in
the growing drug reconstitution market
LIONVILLE, Pa. and RA'ANANA, Israel, August 9, 2005 -- West Pharmaceutical Services, Inc. (NYSE: WST),a global market leader in closure systems and syringe components for use with injectable drugs, announced the acquisition of 90% of privately-held and Israel-based Medimop Medical Projects, Ltd., a leading developer and supplier of disposable medical devices for the mixing, transfer, reconstitution and administration of injectable drugs. "Medimop is a strong strategic fit with our business in the injectable drug market and demonstrates our commitment to providing products that improve the safety and effectiveness of drug administration," commented Steven A. Ellers, President and Chief Operating Officer of West Pharmaceutical Services, Inc. Medimop provides customers with technologies and systems for the reconstitution, transfer and administration of pharmaceutical products in therapeutic areas including multiple sclerosis, rheumatoid arthritis, vaccines, hormones and blood derivatives for haemophilia. Medimop's products, such as MIXJECT®, offer customers a range of solutions for drug products requiring additional handling at the point of use, a market West addresses through its Clip'n'Ject® product, a proprietary, single use drug reconstitution system. Many drug products, including the majority of recently introduced biotechnology products, require reconstitution at the point of use because they are produced as freeze-dried powders in order to preserve product efficacy during shipment and storage.
"We are pleased to become a part of West
Pharmaceutical Services,” said Mr. Freddy Zinger, founder and President of
Medimop. “West's sales and marketing reach will enhance the growth of
Medimop's standard-setting products and technologies and Medimop products
and technologies strengthen West’s ability to meet device customer’s needs
for critical healthcare components."
About West Pharmaceutical Services, Inc.
West Pharmaceutical Services, Inc. is the world's premier manufacturer of components and systems for injectable drug delivery, including stoppers and seals for vials, and closures and disposable components used in syringe, IV and blood collection systems. The Company also provides products with application to the personal care, food and beverage markets. West's customers include the world's leading pharmaceutical, biotechnology, generic drug and medical device producers. Headquartered in Lionville, Pennsylvania, West Pharmaceutical 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 http://www.westpharma.com.
About Medimop Medical Projects Ltd.
Headquartered in Ra'anana, Israel, Medimop Medical Products Ltd. is a privately-held drug delivery device company that creates, develops, manufactures and markets novel disposable medical devices for pharmaceutical mixing, transfer, reconstitution and administration. Medimop conducts manufacturing operations in Israel and Germany. Sales and marketing activities for the company are conducted from Israel, Germany and the US. For more information, visit Medimop at http://www.medimop.com.
Media Enquiries:
Dr Marc Egelhofer Northbank Communications Tel: +44 (0) 1260 296500 Email: m.egelhofer@northbankcommunications.com |
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