01—Abstract
Summary
Summary of the 8-K filed July 14, 2026. Cited figures are marked; the original filing is the authoritative source.
West Pharmaceutical Services, Inc. (the "Company") disclosed in this Current Report, dated and effective July 14, 2026, that it has entered into an Amended and Restated Technology Exchange and Crosslicense Agreement with Daikyo Seiko, Ltd. ("Daikyo"), along with two Distributorship Agreements.
The Company notes it maintains a 49%a ownership interest in Daikyo. The filing states that the terms of the new agreements are substantially similar to the 2017 agreements between the parties, as amended by a 2018 letter agreement and a 2019 amendment agreement. Under the Crosslicense Agreement, the parties agree to share know-how and cooperate in joint development of closures, vials, cartridges, syringes, medical device components and similar products used with pharmaceutical products.
Each party may license the other's know-how, patents and trademarks. Daikyo's license from the Company is non-exclusive, while the Company's license from Daikyo is exclusive outside Japan, subject to limited exceptions. The license is royalty-free except for a fixed royalty rate applicable to certain patents and non-patented technical information.
One Distributorship Agreement makes the Company the exclusive distributor of Daikyo products outside Japan, and the other makes Daikyo a non-exclusive distributor of Company products in Japan. Each agreement has a 10-year term and may be terminated early in certain circumstances, including mutual written consent or a change in control of either party.
If the Crosslicense Agreement terminates, the parties agreed to negotiate, within a specified period, the terms for continued use of know-how and trademarks and for making, using or selling products under licensed patents. Redacted copies of the agreements are to be filed as exhibits to the Company's Form 10-Q for the quarter ending September 30, 2026.
02—Key points
Key Highlights
- Entered into an Amended and Restated Technology Exchange and Crosslicense Agreement with Daikyo Seiko, Ltd., effective July 14, 2026.
- Entered into two Distributorship Agreements with Daikyo, making the Company exclusive distributor of Daikyo products outside Japan and Daikyo a non-exclusive distributor of Company products in Japan.
- The Company maintains a 49% ownership interest in Daikyo.
- Terms are substantially similar to the January 18, 2017 agreements, as amended in 2018 and 2019.
- Crosslicense permits mutual licensing of know-how, patents and trademarks for closures, vials, cartridges, syringes and medical device components; royalty-free apart from a fixed rate on certain patents and technical information.
- Each agreement has a 10-year term, terminable early by mutual consent or upon a change in control of either party.
- Full text to be filed as redacted exhibits with the Form 10-Q for the quarter ending September 30, 2026.
03—Questions
Frequently Asked Questions
What agreements did West Pharmaceutical enter into with Daikyo?
The Company and Daikyo entered into an Amended and Restated Technology Exchange and Crosslicense Agreement and two Distributorship Agreements, all effective July 14, 2026.
How is the licensing structure divided between the parties?
Daikyo's license from the Company is non-exclusive. The Company's license from Daikyo is exclusive outside Japan, subject to certain limited exceptions.
How long do the new agreements last and when can they end early?
Each agreement has a 10-year term. They may be terminated early under certain circumstances, including mutual written consent or a change in control of either party.
What happens to the know-how and licenses if the Crosslicense Agreement terminates?
The parties have agreed to negotiate, within a specified period, the terms under which they may continue to use the know-how and trademarks and make, use or sell products under licensed patents.
Where can investors find the full terms of these agreements?
The filing states that redacted copies of the agreements will be filed as exhibits to the Company's Form 10-Q for the quarter ending September 30, 2026.
04—Continue