West Pharmaceutical Services (WST) risk factors: FY2025 10-K

1. Global economic conditions, including inflation and supply chain disruptions, could adversely affect our operations.reworded
2. Unauthorized access to our or our customers’ information and systems could negatively impact our business.
3. We are a global company with significant revenues and earnings generated internationally, which exposes us to the impact of foreign currency fluctuations and tariffs, as well as political and economic risks.rewordedTariffs
4. We are exposed to credit risk on accounts receivable and certain prepayments made in the normal course of business. This risk is heightened during periods when economic conditions worsen.
5. Unstable market and economic conditions and adverse developments with respect to financial institutions and associated liquidity risk may have serious adverse consequences on our business and financial condition.

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1. Our sales and profitability are largely dependent on the sale of drug products delivered by injection and the packaging of drug products. If the drug products developed by our customers in the future use another delivery system or are reconfigured to require less frequent dosing, our sales and profitability could suffer.
2. If we are unable to provide comparative value advantages, timely fulfill customer orders, or resist pricing pressure, we will have to reduce our prices, which may reduce our profit margins.
3. Consolidation in the pharmaceutical and healthcare industries could adversely affect our future revenues and operating income.
4. The medical technology industry is very competitive and customer requests and/or new products in the marketplace could cause a reduction in demand.reworded

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1. Disruption in our manufacturing facilities could have a material adverse effect on our ability to make and sell products and have a negative impact on our reputation, performance or financial condition.
2. Our international sales and operations are subject to risks and uncertainties that vary by country and which could have a material adverse effect on our business and/or results of operations.
3. Disruptions in the supply of key raw materials could adversely impact our operations.
4. Raw material and energy prices have a significant impact on our profitability. If raw material and/or energy prices increase, and we cannot pass those price increases on to our customers, our profitability and financial condition may suffer.
5. If we are not timely or successful in new-product innovation or the development and commercialization of proprietary multi-component systems, our future revenues and operating income could be adversely affected.
6. We may not succeed in completing divestitures, acquisitions or other strategic transactions, all of which could have an adverse effect on our business and results of operations.reworded
7. Product defects could adversely affect the results of our operations.
8. A loss of or inability to attract key personnel or highly skilled employees could disrupt our operations.
9. The concentration of our customer base could adversely affect our financial condition and operating results.new
10. We may be unable to increase capacity or efficiency at our own manufacturing facilities, which could adversely affect our business, financial condition, and results of operations.
11. Our results of operations and earnings may not meet guidance or expectations.
12. No assurance can be given that we will continue to pay or declare dividends.
13. If we fail to comply with our obligations under our distributorship or license agreements with Daikyo or the agreements are terminated early or not renewed, we could lose license rights and access to certain product and technology that are important to our business.

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1. We are subject to regulation by governments around the world, and if these regulations are not complied with, existing and future operations may be curtailed, and we could be subject to liability.
2. Products that incorporate our technologies and medical devices that we produce are subject to regulations and extensive approval or clearance processes, which make the timing and success of new-product commercialization difficult to predict.
3. Changes in the regulation of drug products and devices may increase competitive pressure and adversely affect our business.
4. If we are not successful in protecting our intellectual property rights, our ability to compete may be affected.
5. Significant developments in U.S. tax policies could have a material adverse effect on our business and/or results of operations.
6. If we fail to maintain an effective system of internal controls, we may not be able to accurately report our financial results, which could lead to a loss of investor confidence in our financial statements and have an adverse effect on our stock price.new
7. We are subject to stringent and changing obligations related to data privacy and security. Our actual or perceived failure to comply with such obligations could lead to regulatory investigations or actions; litigation; fines and penalties; disruptions of our business operations; reputational harm and other adverse business consequences.
8. Changing climate, global climate change regulations and greenhouse gas effects may adversely affect our operations and financial performance.
9. Failure to comply with anti-bribery, anti-corruption and anti-money laundering laws could subject us to penalties and other adverse consequences.
10. Our operations must comply with environmental statutes and regulations, and any failure to comply could result in extensive costs which would harm our business.
11. Changes in reimbursement practices of third-party payers or other cost containment measures, including changes to applicable laws and regulations, could affect the demand for our products and the prices at which they are sold.

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1. Our share price has been volatile and may fluctuate, and accordingly, the value of an investment in our common stock may also fluctuate.

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