West Pharmaceutical Services Inc. said it increased its minority equity stake in Japan-based Daikyo Seiko, Ltd. to 49%.
Exton, Pa.-based West Pharmaceutical manufactures and sells containment and delivery systems for injectable drugs and healthcare products, while Daikyo manufactures pharmaceutical packaging and medical device components.
Both companies have been partners for over 40 years and West Pharmaceutical exclusively distributes and markets Daikyo's products globally. The partnership also includes a technology exchange and cross-license agreement. Additionally, Daikyo distributes West Pharmaceutical's products within Japan.