5 Pharma Companies Making Treatment for Opioid Overdose

3. West Pharmaceutical Services, Inc. (NYSE: WST)

Number of Hedge Fund Holders: 26

West Pharmaceutical Services, Inc. (NYSE: WST) is a Pennsylvania-based company that makes and sells injectable drugs and other healthcare products. It is ranked third on our list of 10 pharma companies making treatment for opioid overdose. The firm sells non-opioid analgesics like Diclofenac ophthalmic. The company has a market cap of over $30 billion and posted more than $2 billion in revenue last year. It was founded in 1923 and employs over 9,000 people across the world. 

In earnings results for the second quarter, posted on July 29, West Pharmaceutical Services, Inc. (NYSE: WST) reported earnings per share of $2.46, beating predictions by $0.72. The revenue over the period was $723 million, up 37% year-on-year. 

Out of the hedge funds being tracked by Insider Monkey, Boston-based firm Arrowstreet Capital is a leading shareholder in West Pharmaceutical Services, Inc. (NYSE: WST) with 378,363 shares worth more than $106 million. 

In its Q3 2020 investor letter, Baron Asset Fund, an asset management firm, highlighted a few stocks and West Pharmaceutical Services, Inc. (NYSE: WST) was one of them. Here is what the fund said:

“West Pharmaceutical Services, Inc. manufactures components and systems for the packaging and delivery of injectable drugs. Shares rose on strong second quarter financial results and raised 2020 guidance. Business is benefiting from strong demand for West’s products and services, as the large majority of newly approved biologic drugs utilize the company’s packaging. We think demand should further accelerate as COVID-19 vaccine manufacturers come to market. We continue to believe West has a promising long-term growth outlook and a secure competitive position.”