Proprietary Products net sales decreased by $1.1 million, or 0.2%, due to a decline in sales of certain high-value product offerings due to customer inventory management, primarily FluroTec products, NovaBrand products, Westar components and Daikyo components.

Contract-Manufactured Products net sales increased by $0.6 million, or 0.4%, due primarily to a decrease in sales of healthcare diagnostic devices, offset by growth in self-injection devices for obesity and diabetes.

Efforts remain focused on the continued investment in elastomeric packaging components, formulation development, drug containment systems, self-injection systems and drug administration consumable.

Consolidated SG&A costs decreased by $5.5 million, or 6.2%, due primarily to lower annual incentive compensation and decreased costs related to professional services, offset by increased salary and wages.

The Company does not expect additional expenses or payments associated with our 2022 restructuring plan. The plan is expected to have annualized savings in the range of $17 million to $19 million.

The company recorded $1.6 million of expense within selling, general and administrative expenses in connection with a plan to optimize the legal structure of the Company and its subsidiaries.

Our Israel-based facilities continue to substantially operate as they had prior to the conflict in Israel and surrounding area. We continue to monitor the impact of the conflict in Israel and surrounding areas on our operations and those of our suppliers.

The company approved a restructuring plan to adjust our operating cost base to better respond to the macroeconomic factors influencing our business. These changes were implemented over a period of approximately twenty-four months from the date of approval.

There are no material changes to the risk factors disclosed in Part I, Item 1A of our 2023 Annual Report.

Proprietary Products net sales decreased due to a decline in sales of certain high-value product offerings due to customer inventory management.

Competition from other providers in our businesses, including customers' in-house operations, and from lower-cost producers in emerging markets, which can impact unit volume, price and profitability.

Dependence on third-party suppliers and partners, some of which are single-source suppliers of critical materials and products, including our Japanese partner and affiliate, Daikyo.

Consolidated SG&A costs decreased due primarily to lower annual incentive compensation and decreased costs related to professional services, offset by increased salary and wages.

In December 2022, the Company approved a restructuring plan to adjust our operating cost base to better respond to the macroeconomic factors influencing our business.

Contract-Manufactured Products gross profit margin increased primarily due to production efficiencies.

Efforts remain focused on the continued investment in elastomeric packaging components, formulation development, drug containment systems, self-injection systems and drug administration consumable.

Contingent consideration represents changes in the fair value of the SmartDose contingent consideration.

Contract-Manufactured Products net sales increased due to growth in self-injection devices for obesity and diabetes.

During the nine months ended September 30, 2024, we purchased 1,409,786 shares of our common stock under the share repurchase program at a cost of $506.5 million, or an average price of $359.24 per share.

Net cash used in investing activities increased due to an increase in capital expenditures for additional manufacturing capacity to meet future customer demand.

On July 2, 2024, the Company entered into the Third Amendment to the Credit Facility Agreement, which amended the Existing Credit Facility Agreement. Among other changes to the existing credit agreement, the Third Amendment established an incremental term loan in the stated principal amount of $130.0 million.

The 10-Q filing does not contain any specific information about ESG initiatives.

In December 2022, the Company approved a restructuring plan to adjust our operating cost base to better respond to the macroeconomic factors influencing our business.

The company's financial results are affected by foreign currency fluctuations.

The potential adverse effects of global healthcare legislation on customer demand, product pricing and profitability.