Feb 12 (Reuters) - West Pharmaceutical WST.N forecast annual profit above Wall Street estimates on Thursday, after beating fourth-quarter expectations on strong demand for its proprietary products, which include syringes and cartridges for injectable drugs.
Shares of the Pennsylvania-based firm were up 3.6% in premarket trading.
Surging demand for newer diabetes and obesity treatments, including Novo Nordisk's NOVOb.CO Ozempic, Wegovy and Eli Lilly's LLY.N Mounjaro, is expected to benefit medical equipment makers such as West Pharma, which supplies components for injection pens used to administer these drugs.
The company now expects 2026 adjusted profit per share of $7.85 to $8.20, above analysts' estimates of $7.78, according to the data compiled by LSEG.
First-quarter adjusted profit per share is expected at $1.65 to $1.70, compared with estimates of $1.65.
Annual revenue is forecast to be between $3.22 billion and $3.28 billion, compared with analysts' average expectations of $3.25 billion.
West Pharma said its revenue forecast also accounts for the sale of its SmartDose 3.5 mL on-body delivery system to AbbVie ABBV.N, expected to close in mid-2026.
Meanwhile, fourth-quarter adjusted profit per share came in at $2.04, above estimates of $1.83.
Total revenue for the quarter stood at $805 million, above estimates of $794.38 million.
Revenue from its proprietary products unit, which makes up more than half of the company's total revenues, came in at $661.8 million, beating estimates of $652.95 million.
The contract-manufactured products segment saw quarterly sales rising 6.2% from a year earlier to $143.2 million, compared with estimates of $143.3 million. The segment benefited from higher demand for self-injection devices for obesity and diabetes, partly offset by lower sales of healthcare diagnostic devices.
(Reporting by Siddhi Mahatole in Bengaluru; Editing by Jonathan Ananda)
((siddhi.mahatole@thomsonreuters.com;))