AptarGroup
23 named things its latest annual report says its results depend on, each in the company's own words. 11 of them are also named by other companies we've read.
Customers
Prescription drug market
earns from · approximately 51% of the segment’s total net salesSales to the prescription drug and digital health markets accounted for approximately 51% of the segment’s total net sales in 2025.Business (Item 1)
Pharmaceutical customer royalty agreements
earns fromnamed as a riskOur inability to renew or replace expiring royalty agreements could have a negative impact on our sales and margins.Risk factors (Item 1A)
Suppliers
Single-source resins and rubber components (Pharma segment)
depends onnamed as a riskIn some cases, we have historically sourced certain materials, especially some resins and rubber components for our Pharma segment, from a single source.Risk factors (Item 1A)
Aerosol valve and pump component subcontractors
depends onnamed as a riskCertain suppliers of these components have unique technical specifications that make us dependent on them, particularly for aerosol valve and pump production.Business (Item 1)
Other companies
3.60% Senior Notes due March 2032 cross currency swap
exposed to its price · $203.0 millionThis USD/EUR swap agreement exchanged $203.0 million of fixed-rate 3.60% USD debt to €200.0 million of fixed-rate 2.5224% EUR debt.Market risk (Item 7A)
Goldrain (Ningbo Jinyu Technology Industry Co., Ltd.)
approximately $99.0 million–October 2024 - We acquired 40% of the equity interests in Ningbo Jinyu Technology Industry Co., Ltd., doing business as Goldrain, (referred to herein as "Goldrain") for approximately $99.0 million.Business (Item 1)
ARS Pharmaceuticals Operations, Inc.
named as a riskIn addition, in September 2025, ARS Pharmaceuticals Operations, Inc. filed an antitrust lawsuit against us in the United States District Court for the Southern District of California, alleging violations of U.S. competition laws related to supply of certain components and are seeking injunctive relief and damages.Risk factors (Item 1A)
Competitors
Nemera
named as a riskFor example, in May 2025, Nemera filed patent infringement actions against us in France and Germany relating to certain of our ophthalmic products.Risk factors (Item 1A)
Places
Europe
concentrated in · approximately 49% and 49% of our consolidated salesEurope is our largest region in terms of sales, where sales based on shipped to locations for the years ended December 31, 2025 and 2024 were approximately 49% and 49% of our consolidated sales, respectively.Business (Item 1)
Also named by ADSK, AME, AMRC, BCSF, BKNG, BMI, BMY, CARR and 60 more
Russia
operates innamed as a riskAlthough we currently have relevant licenses regarding our products and services, changes in the sanctions regimes without obtaining necessary licenses could adversely affect our operations in Russia and, as a result, our relationship with certain customers.Risk factors (Item 1A)
Also named by ALSN, AVY, AXP, BKR, BSX, C, CDNA, CEG and 50 more
France
operates innamed as a riskThe majority of our employees in Europe, specifically France for our Pharma and Beauty segments, and Latin America are covered by collective bargaining arrangements made either at the local or national level in their respective countries.Risk factors (Item 1A)
Also named by BAM, DDOG, HROW, IDCC, MS, UBER, UGI, WAB and 1 more
Hazards
Russia-Ukraine war
named as a riskAlthough the continued invasion of Ukraine by Russia has not had a material direct impact to our consolidated results, we have experienced indirect impacts on our business, including higher energy and other input costs as well as certain supply chain disruptions, which could materially adversely affect our results of operations and financial condition.Risk factors (Item 1A)
Also named by ADSK, AVAV, CSCO, CTVA, EMR, FIS, FLO, FND and 21 more
Commodities and inputs
Euro
exposed to its pricenamed as a riskOur primary foreign exchange exposure is to the euro, but we have foreign exchange exposure to the Chinese yuan, Brazilian real, Argentine peso, Mexican peso, Swiss franc and other Asian, European and Latin American currencies.Risk factors (Item 1A)
Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more
Plastic resin
exposed to its pricenamed as a riskThe cost of raw materials and other inputs (particularly plastic resin, rubber, metal, anodization costs and transportation and energy costs) are volatile and susceptible to rapid and substantial changes due to factors beyond our control, such as changing economic conditions, currency fluctuations, weather conditions, health crises, political and social instability, acts of war, terrorist activity or other similar events in energy-producing nations, and supply and demand pressures.Risk factors (Item 1A)
Post-consumer recycled (PCR) resin
exposed to its pricenamed as a riskRaw material costs may continue to increase in the coming years due to market fluctuation and the use of PCR resin for our sustainable product offerings and future market conditions may prevent us from passing these increased costs on to our customers through timely price increases.Risk factors (Item 1A)
Regulators
U.S. Food and Drug Administration (FDA)
subject tonamed as a riskIn addition, Aptar's customers' products, as well as certain of Aptar's products and services, are subject to regulation in the U.S. by the U.S. Food and Drug Administration ("FDA") and by comparable government agencies in other countries.Risk factors (Item 1A)
Also named by A, ABBV, ABT, AMGN, ARE, ARWR, AXGN, BAX and 112 more
Laws and programs
Kigali Amendment to the Montreal Protocol (HFC phase-down)
subject to · more than 80%named as a riskUnder the amendment, countries committed to cut the production and consumption of HFC propellants by more than 80% over the next 30 years.Business (Item 1)
California Plastic Pollution Prevention and Packaging Producer Responsibility Act
subject to · 25% reduction of plasticsnamed as a riskIn 2022, California enacted the Plastic Pollution Prevention and Packaging Producer Responsibility Act, which, among other things requires a 25% reduction of plastics in single-use products in the state by 2032 and escalates recycling, reuse or composting rates for single-use packaging, regardless of material, used in the state over time.Business (Item 1)
U.S. tariffs on imports (China, Canada, Mexico)
subject tonamed as a riskSuch tariffs and countermeasures have increased the cost of certain raw materials and components used in our packaging solutions, and have the potential to disrupt our global supply chain and create additional operational challenges.Risk factors (Item 1A)
Also named by AAP, ABT, ALLY, AZO, BBW, BWA, CMG, DG and 19 more
PFAS regulations
subject tonamed as a riskFor example, the EU and some states in the United States have introduced regulations to ban PFAS materials used in the packaging industry.Risk factors (Item 1A)
EU Packaging and Packaging Waste Regulation (PPWR)
subject tonamed as a riskFor example, in December 2024, the European Commission adopted the Packaging and Packaging Waste Regulation (“PPWR”) with requirements addressing, among other things, recyclability, recycled content, composability and reusability.Business (Item 1)
Also named by NTAP
Healthcare cost containment policies
subject tonamed as a riskReview by governments or private insurers of cost containment policies of the number of drugs and prices thereof that will be paid by their insurance systems could affect future sales to the pharmaceutical industry and thereby adversely affect prices of and demand for our pharmaceutical products.Risk factors (Item 1A)
Combination Products guidelines (U.S. and EU)
subject tonamed as a riskThese guidelines have increased the complexity of the registration process for these products and recognize the existence of a device part in the drug delivery product, which now is required to be appropriately designed, developed and documented.Business (Item 1)