Key Developments For Neogen Corp
Neogen Corp (NEOG.O) (Nasdaq)
Neogen Corporation Forms Brazilian Subsidiary
Neogen Corporation announced the formation of a new subsidiary in Brazil, Neogen do Brasil (Neogen of Brazil). The new company, headquartered near Sao Paulo, will distribute Neogen's food safety products throughout Brazil.
Neogen Corporation Acquires International Diagnostic Systems Corp
Neogen Corporation announced that it has acquired International Diagnostic Systems Corp (IDS), a developer, manufacturer and marketer of test kits to detect drug residues in food and animal feed, and drugs in forensic and animal samples. Terms of the acquisition were not disclosed. A part of IDS's operations will be relocated to and integrated with the Company's Lexington, Ky., facilities. The Company's research and development operations, and key IDS employees, will remain in IDS's Michigan facilities.
Neogen Corporation's BetaStar US Dairy Antibiotic Test Approved by FDA/NCIMS
Neogen Corporation announced that it has received approval from the FDA and National Conference on Interstate Milk Shipments (NCIMS) for its quick and easy BetaStar US test for dairy antibiotics in milk. This approval allows milk producers and processors in the United States to use Neogen's new test to comply with FDA regulations that require the mandatory testing of milk for dairy antibiotics. Neogen's newly approved BetaStar US test detects dairy antibiotic residues in the beta-lactam group (i.e., penicillin, ampicillin, amoxicillin, cephapirin, cloxacillin, and penicillin G). BetaStar US is an extremely simple dipstick test that requires only minimal training and equipment to produce consistently accurate results.
Neogen Corporation Announces New Share Repurchase Program
Neogen Corporation announced that its Board of Directors has initiated a new share repurchase program to purchase up to 500,000 shares of the Company's common stock. In a joint move, the Board rescinded the previous stock repurchase program first approved in 1999.
Neogen Corporation Acquires Product Line From DuPont Animal Health Solutions
Neogen Corporation announced that it has acquired a product line used in animal health and hygiene applications from DuPont Animal Health Solutions (DAHS). The asset purchase includes 14 different product formulations, along with manufacturing process know-how and associated registration information. The purchase price and terms were not disclosed.
