July 25 (Reuters) - West Pharmaceutical Services ( WST )

cut its annual profit and sales forecast on Thursday, on lower

demand for its medical equipment used in making injectable drugs

as biotech customers worked through their existing inventories.

Biotech clients had stocked up on inventories after facing

supply chain disruptions during the pandemic and are now using

existing supplies before placing new orders for equipment.

This has impacted revenues and order books for companies

like West Pharma, which offers packaging products like stoppers,

seals, syringes and cartridges used to manufacture injectables.

The company now expects 2024 profit in the range of $6.35 to

$6.65 per share, compared with its previous profit forecast of

$7.63 to $7.88.

"Our outlook anticipates that revenues in the second half of

the year will be stronger than the first half," said CEO Eric

Green. Green added that based on ongoing conversations with

customers, West Pharma could return to organic revenue growth by

the fourth quarter.

Revenue for the full year is now expected to be $2.87

billion to $2.90 billion, down from prior range of $3 billion to

$3.03 billion. Analysts had expected a profit of $7.74 per share

and revenues of $3.01 billion for the full year.

The Pennsylvania-based firm's quarterly revenue declined for

a second consecutive quarter.

"The second quarter continued to be impacted by an elevated

level of customer destocking," said Green, adding that the

results were below the company's expectations.

Second-quarter sales fell about 7% to $702.1 million,

missing analysts' average estimates of $729.4 million, according

to LSEG data.

On an adjusted basis, the company posted a profit of $1.52

per share for the second quarter ended June 30, 22 cents below

analysts' expectations.