West's Q3 2025 results exceeded expectations with revenues up 5% to $805 million and adjusted EPS rising 6% to $1.96, prompting an increase in FY 2025 guidance.

• Proprietary Products segment delivered $648 million in revenues, a 5.1% organic increase, driven by strong HVP components related to GLP-1 sales.
• Adjusted operating margins improved to 21.1%, underscoring operational efficiency.
• The company has 375 ongoing Annex 1 upgrade projects, boosting growth expectations from 150 to 200 basis points in 2025.
• Contract Manufacturing segment revenues grew 4.9% organically, benefiting from consolidation efforts in Arizona.
• Leadership transitions, including a new CFO and CTO, are strategically positioned to enhance innovation and operational growth.