Chennai (Tamil Nadu) [India], Aug 25 (ANI/NewsVoir): West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, today announced the official opening of its warehousing operations in Chennai, India. The warehouse in Sriperumbudur Chennai will serve customers within the Indian market and is integral to West's ongoing efforts to enhance the customer experience through shorter lead time and improved trading process.
"Our pharmaceutical customers value speed and efficiency to facilitate their work developing solutions for patients," said Alagu Subramaniam, Managing Director, West Pharmaceutical Services, India. "With the opening of our warehouse in Chennai, the delivery time will be reduced to one week for the most ordered SKUs in India. Previously, depending on the SKU and the region from which it was being ordered, delivery could take anywhere from five to 16 weeks. There will be significant time saved for our customers with the new warehouse, which will make it even easier for them to do business with West."
The warehouse is expected to reduce lead time for SKU deliveries significantly for existing and potential customers. To determine the SKUs with which to begin operations, the West India team has evaluated more than 500 SKUs being ordered from different geographies, such as Singapore, the United States, and the European Union. The warehouse will initially stock a small number of the top SKUs being ordered by customers from these regions and will expand to offer more SKUs by the end of 2020.
"West now offers delivery of orders to anywhere in India to its customers. Having a strong logistic partner enables us to take care of last-mile connectivity, which will allow customers located in remote areas of the country to now order from us," added Mr. Alagu.
Elaborating on the role he expects the warehouse to play in the India operations, Mr. Alagu said, "In today's environment, enhanced customer experience is paramount. With the ability to stock locally, and the addition of more SKUs every quarter, we expect to be able to service almost all of our customers in India through the warehouse by the end of the year."
Certain forward-looking statements are included in this press release. They use words such as "will", "enhanced", "improved", "ongoing" "reduced", "expected" "expanded", and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this release. There is no certainty that actual results will be achieved in-line with current expectations. Specifically, there is no certainty that West's warehousing operations in Chennai, India will achieve any particular result. These forward-looking statements involve a number of risks and uncertainties.
The following are some of the factors that could cause our actual results to differ materially from those expressed in or underlying our forward-looking statements: customers' changing inventory requirements and manufacturing plans, the variety and availability of SKUs, dependence on third-party suppliers and partners, and interruptions or weaknesses in our supply chain. These important factors are not all-inclusive. For a description of certain additional factors that could cause West's future results to differ from those expressed in any such forward-looking statements, see Item 1A, entitled "Risk Factors", in West's Annual Report on Form 10-K for the year ended December 31, 2019. Except as required by law or regulation, West undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise.
West Pharmaceutical Services, Inc. is a leading manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. Working by the side of its customers from concept to patient, West creates products that promote the efficiency, reliability and safety of the world's pharmaceutical drug supply. West is headquartered in Exton, Pennsylvania, and supports its customers from locations in North and South America, Europe, Asia and Australia. West's 2019 sales of $1.84 billion reflect the daily use of more than 100 million of its components and devices, which are designed to improve the delivery of healthcare to patients around the world.
In 1983, West established operations in Singapore. In 2009, an injection molding facility opened in Shanghai Qingpu Industrial Zone in China. At present, West has one Digital Technology Center in Bengaluru, India, three main production bases located in Singapore, Shanghai, China and Chennai, India, and seven offices and distributor centers in Australia, China, India, Korea, and Singapore.
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