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 completed the acquisition of the U.S. rights to Elanco's StandGuard® Pour-on, an insecticide for horn fly and lice control in beef cattle. This product enhances Neogen's agricultural insecticide portfolio, building on its previous acquisition of Chem-Tech in 2014. StandGuard is recognized as a top insecticide in the domestic beef cattle market. While specific financial terms were undisclosed, the acquisition is expected to strengthen Neogen's capabilities in animal safety and agricultural insecticides.
Neogen Corporation (NASDAQ: NEOG) reported Q4 2020 revenues of $109.1 million, a slight decrease from $109.8 million the previous year. Annual revenues increased to $418.2 million from $414.2 million. Q4 net income rose to $16.3 million ($0.31 per share) compared to $15.8 million ($0.30 per share) last year. Gross margins improved to 47.4%, aided by COVID-19-related sanitizer sales. The Food Safety segment saw a decline to $54.3 million due to currency impacts and COVID-19 disruptions, while Animal Safety revenues increased modestly due to strong sanitizer sales. Global operations varied, with significant growth in Chinese revenues (22%).
Neogen Corporation (NASDAQ: NEOG) announced plans to acquire the U.S. rights to Elanco's StandGuard® Pour-on for cattle insect control, enhancing its agricultural insecticide portfolio. This acquisition aligns with the FTC's recent approval of Elanco's buyout of Bayer AG's animal health business. StandGuard is a leading product in the domestic beef cattle insecticide market, offering Neogen immediate sales prospects and access to new registrations. The transaction terms remain undisclosed, but the acquisition signifies Neogen's strategic growth in agricultural biosecurity.
Neogen Corporation (NASDAQ: NEOG) has launched the Soleris® Next Generation (NG) system, designed for rapid detection of microorganisms in food and consumer products. This advanced system can identify yeast and mold in 48 hours and detect Alicyclobacillus in the same timeframe, significantly faster than traditional methods. With features such as integrated software and 32-vial incubating drawers, Soleris NG simplifies the testing process across various industries, including food, nutraceutical, cosmetic, and cannabis sectors. The system is validated by USP and certified by AOAC and MicroVal.