West Pharma Sued After SmartDose Device Stock Drop, Fiscal Hit

West Pharmaceutical Services Inc. downplayed destocking issues and concealed financial headwinds that led it to terminate longstanding customer relationships before a record stock selloff, a proposed class action says.

Share prices plummeted about 38% to close at $199.11 on Feb. 13, 2025, the day the injection parts supplier released disappointing 2025 earnings and revenue guidance, partly due to its decision not to help develop new devices with two major continuous glucose monitoring customers, according to a pension fund’s suit filed with the US District Court for the Eastern District of Pennsylvania. It was the steepest single-day slide recorded since Bloomberg ...