West Pharmaceutical Services 3Q11

3Q Revenues: $293.6 million (+8%)

3Q Earnings: $16.9 million (-5%)

YTD Revenues: $896.9 million (+8%)

YTD Earnings: $56.7 million (-4%)

Comments: Packaging Systems business grew 9% to $209.1 million. Pharmaceutical Delivery Systems grew 4% to $84.5 million. R&D expenses grew $1.3 million to $4.9 million or 5.8% of revenue, primarily as a result of the development effort for the SmartDose electronic-patch-injector system.