West Pharmaceutical Services (WST) 8-K Regulation FD Disclosure

WEST PHARMACEUTICAL SERVICES OVERVIEW

Solutions for Injectable Drug DeliveryNYSE:WSTwww.westpharma.com

Barclays Capital

2011 Global Healthcare Conference

Miami, FLMarch 16, 2011

Safe Harbor Statement

2

Cautionary Statement Under the Private Securities Litigation Reform Act of 1995

This presentation and any accompanying management commentary contain “forward-looking statements” as
that term is defined in the Private Securities Litigation Reform Act of 1995.Such statements include, but are
not limited to statements about expected financial results for 2011 and future years.

Each of these estimates is based on preliminary information, and actual results could differ from these
preliminary estimates.We caution investors that the risk factors listed under “Cautionary Statement” in our
press releases, as well as those set forth under the caption "Risk Factors" in our most recent Annual Report
on Form 10-K as filed with the Securities and Exchange Commission and as revised or supplemented by our
quarterly reports on Form 10-Q, could cause our actual results to differ materially from those estimated or
predicted in the forward-looking statements. You should evaluate any statement in light of these important
factors. Except as required by law or regulation, we undertake no obligation to publicly update any forward-
looking statements, whether as a result of new information, future events, or otherwise.

Non-GAAP Financial Measures

Certain financial measures included in these presentation materials, and which may be referred to in
management’s discussion of the Company’s results and outlook, are Non-GAAP (Generally Accepted
Accounting Principles) financial measures. Please refer to the “Non-GAAP Financial Measures” and “Notes
to Non-GAAP Financial Measures” at the end of these materials for more information.Non-GAAP financial
measures should not be considered in isolation or as an alternative to such measures determined in
accordance with GAAP.

West is a globally diversified manufacturer of products consumed in the healthcare and
consumer markets.

Every day over 80 million components manufactured by West, and our partner Daikyo, are
used to enhance the quality of healthcare worldwide.

3

A Diverse, Stable Customer Base

Pharmaceutical/Biotech

Generic

Medical Device

4

Sales
($ in millions)

5

Compound annual growth rate: 8.9%

Summary 2010 Results

6

	Three Months Ended December 31		Year Ended December 31
	2010	2009	2010	2009
Net Sales	$ 276.8	$ 293.4	$ 1,104.7	$ 1,055.7
Gross Profit	78.0	83.9	318.1	303.6
Reported Operating Profit	5.9	21.7	90.7	97.5
Adjusted Operating Profit (1)	20.6	32.0	104.8	105.0
Reported Diluted EPS	$ 0.18	$ 0.59	$ 1.89	$ 2.12
Adjusted Diluted EPS(1)	$ 0.42	$ 0.67	$ 2.10	$ 2.11

(1)See “Non-GAAP Financial Measures” and “Notes to Non-GAAP Financial Measures” (Slides 33 - 36)

2010 vs. 2009
Adjusted Diluted EPS

7

2009 Adjusted Diluted EPS(1)	$2.11
Foreign Exchange	(0.17)
Lost H1N1 Sales	(0.16)
R&D	(0.09)
Other Operations	0.45
All Other	(0.04)
2010Adjusted Diluted EPS(1)	$2.10

(1)See “Non-GAAP Financial Measures” and “Notes to Non-GAAP Financial Measures” (Slides 33 - 36)

Market Issues

•Asymmetric global economic recovery

–Europe, US, Japan remain sluggish

–China, India, Brazil stronger

–Continuing Fx, commodity price volatility

•More demanding regulatory environment

•Broader trends in Pharma/Device markets continue:

–Unknown impact of healthcare legislation

–Thin near term pipelines

–Pharma M&A - shift to large molecules

–Increased manufacturing outsourcing (India generic growth)

8

•Pharmaceutical Packaging Segment

–Demographics and increasing prevalence of chronic disease

–Biologics

–Growth in Emerging Markets

–Increased access to Healthcare

–Escalating quality expectations: “Zero Defects”

•Delivery Systems Segment

–Demand for combination products that promote safety, dosing accuracy,
ease of use, and deliver cost savings

–Drug product life cycle management

–Glass compatibility/breakage issues

What will Drive Future Growth?

9

Category	Key Customers	Projected Growth
Diabetes		> 10 %
Oncology		> 10 %
Vaccines		> 10 %
Autoimmune		>8%

IMS April 2010 Report; Business Insights 2009; GBI Research 2009

10

Therapeutic Category Growth Drivers

2010 Segment Reorganization

Packaging Systems

•Established leadership

•High market share

•Stable growth rate

Delivery Systems

•Proprietary devices

•Contract manufacturing

•High projected growth rate

Development

Primary Package

Administration

11

$785M

$324M

Pharmaceutical Packaging Systems
Packaging Components for Small Volume Parenterals

Plungers, Tip-caps, Needle
shields for Glass Syringes

Plungers, lined-seals
for Glass Cartridges for
Pens

Closuresfor
Glass Vials

12

•Packaging Systems Segment

–Grow incremental value per unit

–Geographic expansion - capacity investments in Asia

–Improved operating efficiency: lean operations

–Strategic acquisitions and partnerships

Growth Strategy

13

Faster Growth of High-Value Products
Pharmaceutical Packaging Systems

14

Value Proposition

Proprietary
Products

Revenue and
Margin
Opportunity

Disposable Device
Components

Westar®RS

Mix2Vial®

Westar® RU

Standard
Components

Consumer
Products

Packaging

Delivery

15

Ready Pack™ System

(Kitted RU Vials, stoppers & seals)

Utilizes West’s proprietary FluroTec®

technology

FluroTec® technology is licensed from Daikyo Seiko, Ltd.

16

CZ® Vials

Daikyo Resin CZ®

Utilizes Daikyo Crystal Zenith®
proprietary technology

lyophilized vial

Mix2Vial®

Utilizes
Medimop’s
proprietary
technologies

serum vial

RU Seals

NovaPure™

Utilizes West’s
proprietary

FluroTec®
technology

Vial Adapters

Utilizes Medimop’s
proprietary
technologies

Formats

WestProducts for Drug Vials

West Reconstitution &

Fluid Transfer
Products

Standard

Value - added features & processing

Spectra Seals

WestarRS®

Technically advanced,

automated vision

inspection system

Delivery Systems

West ConfiDose®
Auto-injector System

Daikyo Crystal Zenith®
Life-cycle Containment Solutions

West Electronic
Patch-injector

17

Daikyo Crystal Zenith® is a registered trademark of Daikyo, Seiko, Ltd.

West MixJect® and
Vial2Bag®

Proprietary Components, Devices and Systems

•Delivery Systems Segment

–Leverage life cycle management opportunities

–Realize commercial potential of CZ

–Develop new platform opportunities - combination products

–Custom solution provider

Growth Strategy

18

Drivers for Pharma Industry Life Cycle
Management

•To maximize the value of the drug development program

–Extend the value of the molecule as an asset

•Delivery systems as drug formulation life cycle management

–Generate more revenue per dose

•To expand or retain market share in a competitive
environment

–Reduce preparation and administration time

–Improve patient compliance

–Ease of use for self administration

–Accurate delivery of dosage

19

Pharma Industry Drug Life Cycle Management

Phase I

Phase II

Phase III

Post-Market Life Cycle Management

8 - 10 years

2 - 3 years

2 - 3 years

Regulatory

Approval

Discovery

20

FluroTec® technology is licensed from Daikyo Seiko, Ltd.

21

NovaPure™

Utilizes West’s
proprietary

Pre-fillable

Formats

(shown in CZ®)

WestProducts for Pre-fillable Formats

Standard

Value - added features & processing

WestarRS®

Plungers

Tip Caps

Needle
Shields

Cartridge
Plungers

Cartridge
seals

PFS Plungers

Utilizes West’s
proprietary

FluroTec®
technology

RU CZ® Insert Needle
Syringe

Westar® RU
Plungers in Port
Bag

Utilizes West’s
proprietary FluroTec®
technology

CZ® Luer-
lock syringe

NovaGuard™
Passive Safety
Needle

ConfiDose™ Auto
Injector

West’proprietary
technology

Electronic
Patch
Injector

West proprietary
technology

Westar® RU

State of the art ready-to-
use syringe plungers

CZ® Cartidges

Concerns With Glass Syringes

•Interaction with sensitive biologics

•Protein aggregation (silicone oil)

•Residual chemicals (tungsten, glue)

•Glass flakes

•Breakage

•In process

•Within auto-injector systems

•Recent FDA recalls

•Dimensional variation

•Breakage in auto-injector systems

•Designed for manual injection

•Variable silicone distribution

•Amount of silicone coverage

•Age of barrel

•Inconsistent break force and
sustaining-force

•Quality

•Cosmetic defects

•High levels of inspection necessary

•High “cost of quality”

Siliconized Glass Syringe

Crystal Zenith Syringe

22

2010 Glass-related Recalls

23

Electronic Patch Injector System

•Controlled, subcutaneous, micro-
infusion delivery of high volumes
and high viscosity drugs

•Prefilled cartridge, no need for
user filling

•Based on Daikyo CZ cartridge

•Compact

•Hidden needle for safety

•Single push-button operation

•Fully programmable

24

Prototype Electronic Patch Injector Operation

Programmed by PDA or PC

Dose may be customized

Attached and activated by patient

25

Custom Delivery Device Utilizing Daikyo CZ® Resin

Utilizes Daikyo’s proprietary Crystal Zenith technology

Daikyo Crystal Zenith® is a registered trademark of Daikyo, Seiko, Ltd.

26

West’s Strategy Drives Revenue
Growth in Excess of Unit Growth

Lyo Mixing Station

Launched 1998

Lyo Vial Adapter

Launched in 2003

Prefilled Syringe

Launched in 2004

General trend for level of device

features and functionality

US Sales by Device for 2007*

(One year after Autoinjector launch)

* Data source IMS Health

Taken from presentation at Management Forum Annual Conference in London (March 22 & 23, 2010), Don Rogers, Genentech

Prefilled Auto Injector

Launched in 2006

27

Our Long-Term Focus

•Pharmaceutical Packaging Systems

–Organic growth (on average) of 3-5% per year

–Margin expansion through operating efficiency, product mix

–Capital investments targeted at enhanced quality and value

•Pharmaceutical Delivery Systems

–Deliver the potential of Daikyo CZ products

–Increase healthcare-consumable contract manufacturing revenue

–Grow proprietary safety and delivery system businesses

•Financial discipline

–Operating cash flow: Discretionary SG&A, R&D and capital spending that
are supported by revenue growth

–Deliver returns on invested capital (“ROIC”) that regularly exceed weighted
average cost of capital (“WACC”)

–Align incentives with financial performance and value creation

28

Long-Term Growth Opportunity

Strategic Planning Goals:

•Projected 2014 sales of $0.6 billion

•Projected 2014 Operating margin: > 20%

$1.5 billion market for components with unit
growth 0% to 8% per year, depending on
product and therapeutic segment

Strategic Planning Goals:

•Projected 2014 sales of $1.0 billion

•Projected 2014 Operating margin: > 20%

Pharmaceutical

Packaging Systems

Primary Container Solutions

Pharmaceutical Delivery
Systems

Administration Systems

Consolidated 2014 Planning Objectives

•2014 Sales: $1.6 billion

•2014 Operating Margin: 19%

29

	Raw Material Cost
Factor Pricing (modestly higher) Unit Volume (slow growth) Mix (continuing shift) cost increases) Raw material cost Labor (~ inflation)
	Comprise approximately 1/3rd of COGS Materials include: Synthetic elastomer and polymer and film (petroleum based), aluminum, natural rubber 2011 plans based on expected 5% increases vs. YTD actual material price increases that have been notably higher (oil, natural rubber, aluminum ingot). Mitigation: • Cost: Ø Contractual terms for purchases delay pass -through of oil surcharges ØHedging program •Revenue: ØContracted sales price escalators ØMaterial surcharges on other sales

30

2011 Full-year Financial Guidance

($ millions, except EPS)	2011 Revenue(1)	Gross Profit %(1)
Pharmaceutical Packaging Systems Segment	$ 810 - $ 830	33.4%
Pharmaceutical Delivery Systems Segment	$325 - $340	20.5%
Consolidated	$1,140 - $1,170	29.7%
	2011 Adjusted Diluted EPS(1)(2)
	$2.25 - $2.45

(1) Guidance includes various currency exchange rate assumptions, most significantly the Euro at $1.35 for 2011.Actual
results will vary as a result of variability of exchange rates.

(2) See “Cautionary Statement” (Slide 2), and “Non-GAAP Financial Measures” and “Notes to Non-GAAP Financial Measures”
(Slides 33-36).

31

32

Pharmaceutical Packaging Systems

Pharmaceutical Delivery Systems

•Well positioned

–Substantial market share

–Proprietary technology

–Diversified customer base

–Global footprint

•Stability with growth potential

–Strength in new product pipeline

–Preferred products for biologics

•The financial strength to invest

–Reliable operating cash flow

–Balance sheet strength

Summary

33

Non-GAAP Financial Measures(1)
Three Months Ended December 31, 2010 and 2009

(in millions, except per share data)

	As Reported December 31, 2010	Restructuring and related charges	Discrete tax items	Non-GAAP(1) December 31, 2010
Operating profit	$5.9	$14.7	$-	$20.6
Interest expense, net	4.4	-	-	4.4
Income before income taxes	1.5	14.7	-	16.2
Income tax expense (benefit)	(3.6)	5.3	1.1	2.8
Equity in net income of affiliated companies	0.8	-	-	0.8
Net income	$5.9	$9.4	($1.1)	$14.2
Net income per diluted share	$0.18	$0.27	($0.03)	$0.42

	As Reported December 31, 2009	Restructuring and other	Brazil tax amnesty	Discrete tax items	Non-GAAP(1) December 31, 2009
Operating profit	$21.7	$8.4	$1.9	$-	$32.0
Interest expense, net	3.9	-	-	-	3.9
Income before income taxes	17.8	8.4	1.9	-	28.1
Income tax expense (benefit)	(1.1)	2.8	0.6	4.0	6.3
Equity in net income of affiliated companies	1.4	-	-	-	1.4
Net income	$20.3	$5.6	$1.3	($4.0)	$23.2
Net income per diluted share	$0.59	$0.16	$0.03	($0.11)	$0.67

(1) See “Notes to Non-GAAP Financial Measures”(Slides 35 - 36), “Cautionary Statement” (Slide 2)

	As Reported December 31, 2010	Restructuring and related charges	Acquisition- related contingencies	Discrete tax items	Non-GAAP December 31, 2010
Operating profit	$90.7	$15.9	($1.8)	$-	$104.8
Interest expense, net	16.2	-	-	-	16.2
Income before income taxes	74.5	15.9	(1.8)	-	88.6
Income tax expense	13.6	5.7	(0.2)	1.1	20.2
Equity in net income of affiliated companies	4.4	-	-	-	4.4
Net income	$65.3	$10.2	($1.6)	($1.1)	$72.8
Net income per diluted share	$1.89	$0.28	($0.04)	($0.03)	$2.10

34

	As Reported December 31, 2009	Restructuring and other	Brazil tax amnesty	Discrete tax items	Non-GAAP December 31, 2009
Operating profit	$97.5	$9.5	($2.0)	$-	$105.0
Interest expense, net	14.4	-	-	-	14.4
Income before income taxes	83.1	9.5	(2.0)	-	90.6
Income tax expense	13.5	3.2	(1.6)	6.1	21.2
Equity in net income of affiliated companies	3.0	-	-	-	3.0
Net income	$72.6	$6.3	($0.4)	($6.1)	$72.4
Net income per diluted share	$2.12	$0.17	($0.01)	($0.17)	$2.11

Non-GAAP Financial Measures(1)
Year Ended December 31, 2010 and 2009

(1) See “Notes to Non-GAAP Financial Measures”(Slides 35 - 36), “Cautionary Statement” (Slide 2)

(in millions, except per share data)

NOTES TO NON-GAAP FINANCIAL MEASURESFor additional details, please see today’s press release and Safe Harbor Statement.

These slides use non-GAAP financial measures. West believes that these non-GAAP measures of financial results provide useful
information to management and investors regarding certain business trends relating to West’s financial condition, results of operations and
the Company’s overall performance.Our executive management team uses adjusted operating profit and adjusted diluted EPS to evaluate
the performance of the Company in terms of profitability and to compare operating results to prior periods. Adjusted operating profit is also
used to evaluate changes in the operating results of each segment and to allocate resources to our segments.The Company believes that
the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and
trends in comparing its financial measures with other companies.

Our executive management does not consider such non-GAAP measures in isolation or as an alternative to such measures determined in
accordance with GAAP.The principal limitation of such non-GAAP financial measures is that they exclude significant expenses and income
that are required by GAAP to be recorded.In addition, they are subject to inherent limitations as they reflect the exercise of judgment by
management about which items are excluded from the non-GAAP financial measures.In order to compensate for these limitations, our
executive management presents its non-GAAP financial measures in connection with its GAAP results.We urge investors and potential
investors to review the reconciliation of our non-GAAP financial measures to the comparable GAAP financial measures, and not rely on any
single financial measure to evaluate the Company’s business.

In calculating adjusted operating profit and adjusted diluted EPS, we exclude the impact of items that are not considered representative of
ongoing operations. Such items include restructuring and related costs, certain asset impairments, other specifically identified gains or
losses, and discrete income tax items. A reconciliation of these adjusted non-GAAP measures to the comparable GAAP financial measures
is included below.

The following is a description of the items excluded from adjusted operating profit and adjusted diluted EPS:

•Restructuring and related charges:During the three and twelve months ended December 31, 2010, we incurred restructuring,
impairment and related charges of $14.7 million and $15.9 million, respectively. The majority of these costs related to the restructuring plan
announced in December of 2010.

• During the three and twelve months ended December 31, 2009, we recognized restructuring and other charges of $8.4 million and $9.5
million, respectively. The majority of these charges related to a restructuring program launched in the fourth quarter of 2009 to exit certain
specialized laboratory service offerings and consolidate contract-manufacturing operations. The 2009 restructuring program was completed
during the fourth quarter of 2010.

(continued on following slide)

35

NOTES TO NON-GAAP FINANCIAL MEASURESFor additional details, please see today’s press release and Safe Harbor Statement.

Reconciliation of 2011 Adjusted Guidance to 2011 Reported Guidance:

(1)Guidance includes various currency exchange rate assumptions, most significantly the Euro at $1.35 for
2011.Actual results will vary as a result of variability of exchange rates.

	Full Year 2011 Guidance(1)
	Diluted Earnings Per Share
Adjusted guidance	$2.25 to $2.45
Restructuring, net of tax	(0.05) - (0.06)
Reported guidance	$2.19 to $2.40

(continued from prior slide)

•Acquisition-related contingencies:During the third quarter of 2010, we reduced our liability for contingent consideration
associated with our 2009 Eris™ acquisition by $1.8 million to reflect our revised assessment of fair value, as affected by a
reduction in the probability of attaining certain milestones over the next four years.

•Brazil Tax Amnesty:During September 2009, we enrolled in a tax amnesty program in Brazil which entitled us to a reduction in
certain tax-related penalties, interest and other costs in exchange for our irrevocable declaration of all specified tax obligations.
The fourth quarter 2009 pre-tax charge of $1.9 million was the result of an adjustment to the original amnesty benefit to reflect the
impact of a newly-issued ordinance. The full-year impact was a pre-tax gain of $2.0 million, or $0.4 million after tax.

•Discrete tax items:During the fourth quarter of 2010, we recognized $1.1 million in net discrete tax benefits, the majority of
which resulted from the expiration of open tax audit periods in various tax jurisdictions.During the three and twelve months ended
December 31, 2009, we recognized discrete tax benefits of $4.0 million and $6.1 million, respectively. During 2009, we recognized
tax credits of $2.4 million resulting from the identification of additional qualified R&D activities related to prior years, and other tax
provision benefits of $0.9 million primarily from the reversal of valuation allowances on prior-year tax losses carried forward. We
also recognized a $2.8 million net tax provision benefit, principally resulting from the completion of a tax audit and the expiration of
open tax periods in various tax jurisdictions.  

36

WEST PHARMACEUTICAL SERVICES OVERVIEW

Solutions for Injectable Drug DeliveryNYSE:WSTwww.westpharma.com

Barclays Capital

2011 Global Healthcare Conference

Miami, FLMarch 16, 2011