Neogen Corporation develops, manufactures, and markets a diverse range of products and services dedicated to ensuring food and animal safety. The company provides diagnostic test kits, veterinary instruments, pharmaceuticals, and biosecurity products to detect harmful substances, maintain sanitation, and promote animal health. Neogen operates globally, serving food producers, processors, veterinarians, and livestock producers with innovative solutions.
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Food Safety - Offers diagnostic test kits and related products to detect foodborne pathogens, allergens, natural toxins, and sanitation levels. Includes genomics-based diagnostic technology and software systems for data analysis and storage.
- Sub-products: Culture media, DNA detection products, and immunoassay kits.
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Animal Safety - Provides veterinary instruments, pharmaceuticals, vaccines, parasiticides, and diagnostic products for animal health. Includes biosecurity products such as rodent control, insect control, disinfectants, and genomics testing services.
- Sub-products: Drug detection products for animals and workplace/human forensic markets.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Amy M. Rocklin Executive | Chief Legal & Compliance Officer | None | Amy M. Rocklin joined Neogen in March 2021 and was promoted to Chief Legal & Compliance Officer in 2022. She advises on legal and compliance issues and leads several functions, including ESG. | |
David H. Naemura Executive | CFO and COO | None | David H. Naemura became CFO in November 2022 and COO on January 1, 2025. He has held senior financial leadership roles at Vontier Corporation, Gates Industrial Corporation, and Danaher Corporation. | |
John E. Adent Executive | President and CEO | None | John E. Adent joined Neogen as CEO on July 17, 2017, and was named President on September 22, 2017. He has over 20 years of experience as a CEO, with expertise in international food and animal safety. | View Report → |
Aashima Gupta Board | Director | Global Director for Healthcare Provider Solutions at Google Cloud; Board of Directors at Molnlycke; Board of Advisors at GRAIL, HIMSS NA | Aashima Gupta joined the Neogen Board in 2022. She has over 25 years of experience in healthcare and technology, recognized for her work in digital transformation and AI. | |
James C. Borel Board | Director | Eat Just, Inc.; Advanced BioNutrition; Iowa State University Foundation; Alpha Gamma Rho | James C. Borel has been a director since 2016. He retired from DuPont as Executive Vice President, responsible for agriculture and food ingredients businesses. | |
James P. Tobin Board | Director | Managing Director at Yield Lab II; Governor at Iowa State University Foundation; Member at Farm Foundation Roundtable | James P. Tobin has been a director since 2016. He has extensive experience in the agricultural industry and has held leadership roles in various organizations. | |
Jeffrey D. Capello Board | Director | Managing Partner at Monomoy Advisors; Board Member at Agios Pharmaceuticals | Jeffrey D. Capello joined the NEOG Board in 2022. He has over 30 years of experience as a senior finance executive and has served as CFO for several companies. | |
Raphael A. Rodriguez Board | Director | President & Chief Product Officer at Daon, Inc.; Board Member at Strategic Cyber Ventures, Corvium | Raphael A. Rodriguez has been a Director since 2020. He is a U.S. Army intelligence veteran and holds 23 U.S. patents. | |
Thierry Bernard Board | Director | CEO of QIAGEN N.V. | Thierry Bernard joined Neogen's Board in 2024. He is the CEO of QIAGEN N.V. and has held senior roles at bioMérieux SA. | |
William T. Boehm Board | Director | Oh Snap! Pickling; Educational Foundation of Alpha Gamma Rho | William T. Boehm is a retired Senior Vice President of The Kroger Co. and has served on various boards. He has extensive experience in food safety and technology. |
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Given the significant impairment charge related to the 3M Food Safety acquisition, despite your confidence in its post-integration prospects, can you elaborate on the specific end market and integration complexities that led to this impairment and how you plan to address them moving forward?
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With the proactive restructuring of your genomics business resulting in intentional revenue attrition, how do you foresee this impacting your overall margins and long-term growth, especially as you focus more on your differentiated cattle genomics offering?
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The ramp-up of sample collection production has taken longer than anticipated, leading to revenue loss and inability to fully meet demand; what specific challenges have you faced, and what measures are you implementing to reach full capacity by the end of the third quarter?
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Elevated shipping and distribution costs have negatively impacted your margins, and you've initiated actions to improve efficiency; why were these inefficiencies not addressed earlier, and can you provide more details on the operational changes being made to reduce these costs?
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You are exploring strategic alternatives for a significant portion of your Animal Safety segment, targeting around half of its revenue; what criteria are guiding these decisions, and how will these potential divestitures enhance shareholder value and align with your focus on the food safety market?
Research analysts who have asked questions during NEOGEN earnings calls.
Brandon Vazquez
William Blair & Company, L.L.C.
4 questions for NEOG
David Westenberg
Piper Sandler
4 questions for NEOG
Tom DeBourcy
Nephron Research LLC
3 questions for NEOG
Subhalaxmi Nambi
Guggenheim Securities
2 questions for NEOG
Subbu Nambi
Guggenheim Securities
1 question for NEOG
Thomas DeBourcy
Nephron Research
1 question for NEOG
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Corvium, Inc. | 2024 | The acquisition involved a total purchase price of $24,067 – including $9,004 held in escrow and potential performance milestone payments up to $8,500 – along with $16,884 in goodwill and $10,280 in intangible assets, aimed at advancing food safety data analytics via proprietary software technology. |
Thai-Neo Biotech Co., Ltd. | 2022 | Acquired on July 1, 2022 for $1,558,000 (with $1,324,000 paid at closing and $234,000 pending) to establish a direct sales presence in Thailand and Southeast Asia and strengthen the food safety segment. |
3M Food Safety Business | 2022 | Completed on September 1, 2022 via a Reverse Morris Trust transaction that involved issuing 108,269,946 shares (50.1% of Neogen’s outstanding shares), $350 million in senior notes, a $420 million cash payment, and an additional $181.6 million cash payment to enhance its food safety product range and global market footprint. |
Recent press releases and 8-K filings for NEOG.
- Neogen Corporation (NASDAQ: NEOG) is subject to a class action lawsuit for investors who purchased securities between January 5, 2023, and June 3, 2025, with a lead plaintiff motion deadline of September 16, 2025.
- The lawsuit alleges that Neogen misrepresented the smooth integration of 3M's Food Safety Division, concealing significant operational and financial difficulties.
- The company made several disclosures revealing issues, including a $461 million non-cash goodwill impairment and downward revisions to full-year 2025 guidance on January 10, 2025.
- Further disclosures on April 9, 2025, included a Q3 net loss of $11 million, a 3.4% revenue decline, and the resignation of CEO John Adent.
- On June 4, 2025, Neogen disclosed an expected drop in its EBITDA margin to the "high-teens" from 22% due to elevated inventory write-offs.
- A class action lawsuit has been filed against Neogen Corporation (NASDAQ: NEOG).
- The lawsuit covers a class period from January 5, 2023, to June 3, 2025, with a lead plaintiff deadline of September 16, 2025.
- The complaint alleges that the integration with 3M was inefficient, necessitating a goodwill impairment and impacting capital expenditures, revenues, and EBITDA margins, and that the company's positive statements were materially misleading.
- Shareholders with losses of $100,000 or more are encouraged to contact the Law Offices of Howard G. Smith.
- Neogen Corporation (NASDAQ: NEOG) is facing a class action lawsuit.
- The class period for Neogen's lawsuit is from January 5, 2023, to June 3, 2025.
- The lead plaintiff deadline for the Neogen class action is September 16, 2025.
- The complaint alleges that the integration with 3M was inefficient, which would necessitate a goodwill impairment and impact capital expenditures, revenues, and EBITDA margins, making the Company's positive statements materially misleading.
- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed against Neogen Corporation (NEOG), RxSight, Inc. (RXST), Easterly ROCMuni High Income Municipal Bond Fund (RMHIX, RMHVX, RMJAX), and Fiserv, Inc. (FI).
- The lead plaintiff deadline for Neogen Corporation is September 16, 2025, while for RxSight, Inc., Easterly ROCMuni High Income Municipal Bond Fund, and Fiserv, Inc., it is September 22, 2025.
- The complaints allege that defendants made false and/or misleading statements and/or failed to disclose material information, including issues such as inefficient integration with 3M for NEOG, "adoption challenges" and overstated demand for RXST, artificially inflated asset prices and flawed valuation methodology for Easterly ROCMuni, and unsustainable revenue growth from forced merchant migrations for Fiserv.
- A class action lawsuit has been filed against Neogen Corporation (NASDAQ: NEOG) and certain officers by Bronstein, Gewirtz & Grossman, LLC.
- The lawsuit covers investors who purchased Neogen securities between January 5, 2023, and June 3, 2025.
- The complaint alleges that defendants made materially false and misleading statements and/or failed to disclose that the integration was not progressing smoothly, downplayed inefficiencies, and that investors were shocked by the June 4, 2025 disclosure of an expected EBITDA margin around the high-teens, a substantial decline from the prior quarter's 22%.
- Investors who suffered losses have until September 16, 2025, to request that the Court appoint them as lead plaintiff.
- Law Offices of Howard G. Smith announced a securities fraud lawsuit against Neogen Corporation (NEOG) on behalf of investors who purchased common stock between January 5, 2023, and June 3, 2025. The deadline for investors to file a lead plaintiff motion is September 16, 2025.
- The lawsuit alleges that Neogen made misleading statements and failed to disclose that the integration with 3M was inefficient, impacting capital expenditures, revenues, and EBITDA margins.
- Neogen previously disclosed a $461 million non-cash goodwill impairment charge related to the 3M acquisition, cut full-year revenue and EBITDA guidance, and revealed material weaknesses in internal control over financial reporting.
- The company's stock price experienced significant drops following these disclosures, including a 28.7% decline on April 9, 2025, when it also announced its CEO would be stepping down.
- Neogen reported Q4 FY25 revenue of $225.5 million, a core growth of (2.9)%, and Adjusted EBITDA of $40.6 million, with Adjusted EPS at $0.05.
- The company's performance was impacted by a soft end-market environment, particularly in food production, and pressured Adjusted EBITDA margins due to elevated inventory write-offs and sample collection inefficiencies.
- Neogen completed the Cleaners & Disinfectants divestiture in mid-July, with net proceeds of approximately $115 million to be used for a $100 million debt paydown in Q1 FY26, reducing pro forma net debt to $656 million.
- A new CEO will join in August. For FY26, Neogen anticipates revenue between $820 million and $840 million and Adjusted EBITDA between $165 million and $175 million, with positive free cash flow expected.
- Neogen Corporation has appointed Mikhael Nassif as its new President and Chief Executive Officer, effective August 11, 2025.
- Mr. Nassif, 49, joins Neogen from Siemens Healthineers, where he served as Global President of Point-of-Care Diagnostics.
- His compensation package includes an annual base salary of $800,000, an annual bonus target of 100% of base salary, and an annual equity grant target of $4,500,000.
- He will also receive a one-time sign-on equity grant of $2,000,000 and a sign-on cash award of $500,000.
- A class action lawsuit has been filed against Neogen Corporation, its CEO John Adent, and COO & CFO David Naemura, alleging they defrauded investors by misrepresenting the integration of 3M's Food Safety Division and failing to disclose negative financial impacts.
- The lawsuit's Class Period covers investors who purchased Neogen common stock from January 5, 2023, through June 3, 2025.
- Disclosures revealing integration issues included a $461 million non-cash goodwill impairment charge related to the 3M acquisition, cut FY25 revenue and EBITDA guidance, and material weaknesses in internal control over financial reporting as of November 30, 2024, all revealed on January 10, 2025.
- Further negative news on April 9, 2025, included a 3.4% drop in quarterly revenue to $221 million, another FY25 guidance cut, and the announcement that CEO Adent would be stepping down.
- The deadline for investors to move the Court to serve as lead plaintiff is September 16, 2025.
- Neogen Corporation has completed the divestiture of its global cleaners and disinfectants business to Kersia Group.
- The transaction generated $130 million in cash at closing, plus contingent consideration.
- Neogen plans to use $100 million of the net proceeds to repay debt in the current quarter, which is expected to reduce the company’s net leverage by approximately 0.4x on a pro forma basis.