Welcome to our dedicated page for Neogen news (Ticker: NEOG), a resource for investors and traders seeking the latest updates and insights on Neogen stock.
Neogen Corporation reports developments tied to its food safety and animal safety businesses, including diagnostic tests, environmental monitoring products, veterinary products and related manufacturing operations. Company updates commonly cover foodborne pathogen detection, Listeria testing, AOAC method certification, Petrifilm manufacturing activity, and product quality or recall matters involving animal health products.
Neogen news also includes quarterly operating results, segment performance in Food Safety and Animal Safety, business transformation updates, leadership and compliance appointments, and governance matters. Its recurring disclosures connect scientific validation, manufacturing execution, customer markets and regulatory interactions across food safety, livestock, and pet health and wellness applications.
Neogen Corporation (NASDAQ: NEOG) has launched its Synergize disinfectant in Europe, the Middle East, and Africa, expanding its biosecurity products trusted in North America for over 20 years. Synergize is effective against various pathogens, including bacteria, fungi, and viruses, and is approved by regulatory bodies such as the U.S. EPA and UK DEFRA. The product will debut at the EuroTier exhibition in Hannover, Germany. Neogen aims to enhance global biosecurity measures, ensuring the safety of the food chain.
Neogen Corporation has renewed its partnership with the National FFA to support the 2023 Supervised Agricultural Experience (SAE) Grants. Under the agreement, Neogen will donate $2 for every bottle of Prozap StandGuard Pour-On sold, with a total contribution cap of $250,000. The program aims to provide $1,000 grants to FFA members, fostering agricultural education and leadership. Neogen emphasizes its commitment to supporting future leaders in agriculture, showcasing its dedication to community involvement and youth development.
Neogen Corporation (NASDAQ: NEOG) has launched K-Blue Luminescent ONE, a ready-to-use chemiluminescent substrate that enhances efficiency in immunoassay production. This innovative substrate simplifies workflows by eliminating mixing errors and reducing plastic waste, with high sensitivity from nanograms to picograms. K-Blue Luminescent ONE complies with strict regulatory standards and is developed under an ISO 9001-certified system, ensuring excellent consistency. With 30 years of experience in ELISA tests, Neogen continues to provide reliable solutions in food and animal safety.
Neogen Corporation (NASDAQ: NEOG) announced the AOAC International's acceptance of its Megazyme Rapid Integrated Total Dietary Fiber (RINTDF) method as the Standard Method 2022.01. This method offers accurate measurement of all dietary fiber types, including soluble and insoluble fiber. Neogen's President and CEO, John Adent, expressed the significance of this accreditation for food safety and quality standardization. The RINTDF method integrates features from several previous AOAC methods and aligns with the CODEX Alimentarius dietary fiber definition used globally.
Neogen Corporation has launched COMPANION™ RTU, a ready-to-use disinfectant aimed at improving biosecurity in veterinary settings. This formulation simplifies the sanitization process as it requires no mixing, ensuring accurate concentration and saving time for animal health providers. COMPANION RTU effectively eliminates various pathogens, including those causing Canine Parvovirus and COVID-19. The product is suitable for use in a range of environments and does not damage surfaces or equipment. This addition enhances Neogen's comprehensive biosecurity offerings.
Neogen Corporation (NASDAQ: NEOG) has launched the Encompass™ platform to enhance genomic data management for beef and dairy producers. This new platform, developed in collaboration with IYOTAH Solutions, integrates genomic data with herd management software, providing Igenity customers with improved data visualization and decision-making capabilities. Neogen aims to drive sustainable animal protein production through innovative solutions that streamline data management, allowing producers to identify actionable opportunities and reduce inefficiencies.
Neogen Corporation has announced the retirement of Steve Quinlan as Chief Financial Officer effective May 31, 2023. Quinlan, who has served since 2011, played a vital role in the company's growth, increasing revenue from $172.6 million in 2011 to $527 million in 2022. He will assist in the transition to new CFO David Naemura, effective January 2, 2023. Naemura brings significant public company experience, having previously served as CFO for Vontier Corporation and others, positioning him well for Neogen's future in food safety.
Neogen Corporation (NASDAQ: NEOG) reported a 3% revenue growth to $132.3 million for Q1 FY2023, with a 6% increase post-currency adjustments. The company successfully integrated 3M's Food Safety business, which closed on September 1. Net income stood at $5.2 million, affected by $13.7 million in expenses related to the acquisition, leading to a diluted EPS of $0.05. Gross margins improved to 47.0%. Revenue streams varied: Food Safety grew by 3%, while Animal Safety also increased by 3%, driven by animal care products. International sales rose by 2%, with significant growth in Brazil and the UK.
Neogen Corporation (NASDAQ: NEOG) announced the launch of its Veratox VIP assay for detecting cashew allergens, the second assay in the new line of enhanced quantitative ELISA products. This innovative test can identify cashew protein levels as low as 0.2 ppm across various product types and processing environments, including heat-processed samples. Neogen aims to meet the increasing demand for sensitive allergen detection in plant-based foods, emphasizing consumer safety in its testing solutions.
Neogen Corporation (NASDAQ: NEOG) expanded its Board of Directors by appointing Jeffrey Capello and Aashima Gupta, effective Sept. 12, 2022. This move follows the closing of the 3M Food Safety transaction. Both appointees bring extensive experience in their respective fields; Capello has over 30 years in finance and has served as CFO for multiple companies, while Gupta has 25 years in healthcare technology, currently leading Healthcare Provider Solutions at Google Cloud. Their appointments are expected to enhance Neogen's growth and global strategy.