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Recently, West Pharmaceutical Services (WST - Snapshot Report) inked an agreement with Janssen Biotech, Inc. to develop and manufacture a leading-edge self-injection product. Per the agreement, West will market the latest self-injection technology, aptly named SelfDose.
SelfDose, developed by Janssen Biotech will meet patient needs by simplifying self-injection technology for various pharmaceutical and biologic drugs. The collaboration will enable West to enhance its existing portfolio of self-injection technology as it is under obligation to co-develop and commercialize SelfDose. Janssen Biotech’s latest offering delivers advanced manual injection and complements West’s ConfiDose and SmartDose injection technologies.
The agreement allows West to provide technological and regulatory support to Janssen Biotech. Management at West is optimistic about its collaboration with Janssen Biotech as the opportunity will enable the company to meet its business goals.
West’s undertaking for business expansion while providing quality solutions to its consumers is rooted in this recent collaboration. According to the company, SelfDose can eliminate the problems emanating from the lack of a safe and effective medication delivery mechanism, especially when the administrator is the patient.
West is a global leader in provision of drug administration systems and components for packaging, as well as delivery of injectable drugs and delivery system components across various industries. The company has a significant competitive advantage in the market it serves. Additionally, it continues to make headway into new geographies to expand its business.
However, macroeconomic pressure across the globe remains a headwind.
West, which competes withRexam plc. (REXMY), currently has a Zacks #2 Rank, which translates into a short-term Buy rating.
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