Evercore spots buying opportunity in West Pharma amid strong Oral Wegovy prescription data

West Pharmaceutical Services

03/02/2026 11:38

** Brokerage Evercore ISI says West Pharma's shares WST.N are down about 15% since Novo Nordisk launched oral Wegovy on Jan 5, because investors are worried oral GLP‑1 pills could reduce demand for injectable GLP‑1 drugs, which matter for WST's growth

** Evercore argues the recent selloff creates a good long-term buying opportunity, mainly because WST's core business outside GLP‑1s is improving

** WST's most notable customers include pharma majors Eli Lilly  LLY.N and Novo Nordisk  NOVOb.CO who incorporate West's components into their blockbuster injectable treatments, particularly in weight-loss and diabetes therapies

** Brokerage believes early prescription strength could be due to a "bolus of needle-phobes" who were waiting specifically for a pill option

** "Pharma remains highly invested in the injectable GLP- category… As just last week Lilly LLY.N announced plans to invest >$3.5 Bn in a new injectable facility" - Evercore ISI

** WST stock was down 16% in 2025

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))