Neogen Corp (NASDAQ: NEOG)

Neogen Corporation (NASDAQ: NEOG), a prominent name in the food and animal safety industry, operates through two main segments: Food Safety and Animal Safety. The company's mission is to be the leading entity in the development and marketing of solutions for food and animal safety. Its growth strategy encompasses increasing sales of existing products, introducing innovative products and services, expanding international sales, and acquiring businesses and forming strategic alliances.

Neogen's Food Safety segment is primarily engaged in the production and marketing of diagnostic test kits and complementary products. These are marketed to food and feed producers and processors to detect harmful or unintended substances in food and animal feed. The segment's product portfolio includes tests for mycotoxins, food allergens, foodborne pathogens, spoilage microorganisms, sanitation monitoring, seafood contaminants, waterborne microorganisms, and culture media. Neogen's test kits are utilized by a diverse range of testers, from small local grain elevators to the largest food and feed processors globally, as well as numerous regulatory agencies.

The Animal Safety segment is involved in the development, manufacture, marketing, and distribution of veterinary instruments, pharmaceuticals, vaccines, topicals, parasiticides, diagnostic products, rodent control products, cleaners, disinfectants, and insect control products. The segment's product offerings include veterinary instruments, veterinary pharmaceuticals, veterinary biologics, veterinary OTC products, rodent control products, cleaners and disinfectants, and insect control products.

Neogen's products and services are marketed through a network of sales and marketing personnel, distributors, and dealers. The company has a direct sales presence in 24 countries and maintains a network of distributors to reach countries where it does not have a direct presence. Neogen's international sales and marketing efforts are managed by Neogen Europe, Ltd., headquartered in Ayr, Scotland, which sells products and services to customers and distributors throughout the U.K., Europe, the Middle East, and Africa.

Neogen's competitive advantages include its ability to produce high-quality antibodies, its expertise in immunoassay technology, and its extensive network of distributors and dealers. The company's products and services are used by a wide range of customers, including food and feed producers and processors, veterinary clinics, research institutions, and government agencies.

Neogen's customer base is diverse and includes some of the largest and most well-known companies in the food and animal health industries. These include food processors, meat and poultry processors, dairy companies, and pharmaceutical companies. The company's products and services are used in a wide range of applications, including food safety testing, veterinary diagnostics, and research and development.

Neogen's research and development efforts are focused on the development and commercialization of innovative new products that advance the company's business strategy and on the enhancement of existing products. As of May 31, 2024, the company employed 106 scientists and support staff in its worldwide research and development group, including immunologists, chemists, geneticists, engineers, and microbiologists. Management expects that a number of these products will be commercially available at various times during fiscal years 2025 and 2026.