By Nate Wolf

You already know the big names in weight-loss drugs: Eli Lilly, Novo Nordisk, Hims & Hers Health. A lesser-known stock was making moves Thursday.

Shares of West Pharmaceutical Services soared after the maker of injectable components reported better-than-expected quarterly results. The company posted adjusted earnings of $2.13 a share for the first quarter, up from $1.45 a year ago and ahead of Wall Street's call for $1.68. Revenue jumped 21% from last year to $844.9 million, above analysts' consensus estimate of $780.3 million.

West Pharmaceutical stock surged 13%, bringing the stock into the black for the year. Shares have gained 48% over the past 12 months.

The company boosted its 2026 guidance in light of the earnings beat. It now expects adjusted earnings per share of $8.40 to $8.75, up from the previous range of $7.85 to $8.20. Revenue should total $3.295 billion to $3.35 billion, the company projected, up from an earlier forecast of $3.215 billion to $3.275 billion.

Weight-loss drugs aren't the key to West Pharmaceutical's business, which saw growth across its product lines in the first quarter. But they are a nice bonus. GLP-1 injection and oral packaging components comprised around 10% of West Pharmaceutical's total sales in the quarter, consistent with the previous quarter.

"Our view remains unchanged for long-term growth in both injectable and oral GLP-1 markets, as overall adoption of these products continues to increase," said CEO Eric Green in a conference call on Thursday. Green anticipates lower prices, the expansion of insurance coverage, and regulatory decisions on compounded GLP-1 drugs driving that growth.

The chief executive may not be the one guiding West Pharmaceutical into its GLP-1 era. Green informed the board last month that he will retire once the company finds a successor. He expects that to happen later this year.

"We are active in the market as we speak, and we anticipate that my successor will be appointed in the second half of this year," Green said.

Write to Nate Wolf at nate.wolf@barrons.com

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April 23, 2026 12:47 ET (16:47 GMT)

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