Neogen

Last updated
Neogen Corporation
Company type Public
Industry
Founded1982;42 years ago (1982) in Lansing, Michigan [1]
Founders
  • Herbert Dow Doan
  • James L. Herbert
Headquarters620 Lesher Place,
Lansing, Michigan
,
U.S.
Area served
Worldwide
Key people
RevenueIncrease2.svg US$527.16 million [2]  (2022)
Decrease2.svgUS$58.62 million [2]  (2022)
Decrease2.svgUS$48.31 million [2]  (2022)
Total assets Increase2.svgUS$992.93 million [2]  (2022)
Total equity Increase2.svgUS$887.37 million [2]  (2022)
Number of employees
2,108 (2022)
Divisions
  • Neogen Animal Safety
  • Neogen Food Safety
Subsidiaries
  • Abtek (Biologicals) Limited
  • Chem-Tech, Ltd.
  • Delf Chem Solutions, Ltd.
  • GeneSeek, Inc.
  • Genetic Veterinary Services, LLC
  • Hacco, Inc.
  • Lab M Limited
  • Megazyme, Ltd.
  • Quat-Chem, Ltd.
  • Rogama Industria Comercio Ltda.
Website neogen.com

Neogen Corporation is an international food safety company that provides test kits and relevant products to detect dangerous substances in food. The company was founded in 1982 and is based in Lansing, Michigan. [1] The company serves a wide range of countries including Canada, [3] United States, the United Kingdom, [4] parts of Europe, [5] Mexico [6] and Brazil, [7] India, [8] and China, [9] among others. As of 2016, the company has a market capitalization of $1.83 billion [10] with an enterprise value of $1.57 billion. [11] The company operates a product line of over 100 drug detection test kits worldwide for the detection of about 300 abused and therapeutic drugs in animal treatment. [12] In 2009, it became a vendor of the Chinese government and has been engaged in researching China-specific food safety and plant health issues. [13]

Contents

History

The company was founded by Herbert D. "Ted" Doan and James L. Herbert in 1981 as an investment project by Michigan State University. An early $50,000 investment by the Michigan State University Foundation awarded 30% of the company shares in the early years after its founding. The purpose of the company was to help strengthen the biotechnology community in Lansing and the state as a whole, which had no large biotech companies at the time, and to help retain molecular biologists within the state. [14] One of the earliest acquisitions for the company was Ideal Instruments Inc. in 1985 in order to utilize their production of veterinary tools. [15]

In 1991, Neogen purchased WTT, a 1988 spinoff company of the University of Kentucky that licensed the technology the college had developed. Named for the company's founding professors David Watt, Hsin-Hsiung "Daniel" Tai, and Thomas Tobin, WTT manufactured drug-detection tests for the horse racing industry. The ELISA (enzyme-linked immunoassay) tests allowed officials to test for performance-enhancing drugs that were difficult to detect in 1988. [16]

In 2010, Neogen acquired the genomics-focused company GeneSeek in order to expand their focus on animal genomes and proper heredity and breeding, especially in regards to cattle. [17]

In December 2021, 3M announced that it would merge its food-safety business with Neogen. [18] [19] The deal, with an enterprise value of about $5.3 billion, [18] closed in September 2022. [20]

Products

Neogen focuses on supplying products for bacterial detection and proper sterilization and tool handling with antibiotics, along with genomics research products focused on gene isolation and heredity mapping. The detection products include Reveal for Salmonella Enteriditis, [21] along with Agri-Screen and Veratox for a range of mycotoxin detections. [22] Advancements in hydrophobic grid membrane filter (HGMF) technology led Neogen to the creation of a disposable filter in 2004 called NEO-GRID. [23]

Organization

The company operates its business through two segments including Food Safety and Animal Safety. The Food Safety segment provides diagnostic test kits and other complementary products for dangerous or unintended substances testing in both human and animal food. The Animal Safety segment is engaged in developing and supplying pharmaceuticals and medical instruments that are used in the global veterinary market. [24] The latter segment also produces medicine to control animal disease and rodents in wide industries including agriculture and food production. [25] In 2013, the company acquired Chem-Tech Ltd, which used to be wholly owned by Pat and Kelle Rolfes. [26]

Related Research Articles

Mars Inc. is an American multinational manufacturer of confectionery, pet food, and other food products and a provider of animal care services, with US$45 billion in annual sales in 2022; that year Forbes ranked the company as the fourth-largest privately held company in the United States. Headquartered in McLean, Virginia, the company is entirely owned by the Mars family. Mars operates in four business segments around the world: Mars Wrigley Confectionery, Petcare, Food, and MARS Edge, the company's life sciences division.

<span class="mw-page-title-main">Labcorp Drug Development</span> Contract research organization

Labcorp Drug Development is a contract research organization headquartered in Burlington, North Carolina, providing nonclinical, preclinical, clinical and commercialization services to pharmaceutical and biotechnology industries. Formerly called Covance, the company is part of Labcorp, which employs more than 70,000 people worldwide.

Invitrogen is one of several brands under the Thermo Fisher Scientific corporation. The product line includes various subbrands of biotechnology products, such as machines and consumables for polymerase chain reaction, reverse transcription, cloning, culturing, stem cell production, cell therapy, regenerative medicine, immunotherapy, transfection, DNA/RNA purification, diagnostic tests, antibodies, and immunoassays.

KLA Corporation is an American capital equipment company based in Milpitas, California. It supplies process control and yield management systems for the semiconductor industry and other related nanoelectronics industries. The company's products and services are intended for all phases of wafer, reticle, integrated circuit (IC) and packaging production, from research and development to final volume manufacturing.

<span class="mw-page-title-main">Petco</span> American pet supply store chain

Petco Health and Wellness Company, Inc. is an American pet retailer with corporate offices in San Diego and San Antonio. Petco sells pet food, products, and services, as well as certain types of live small animals.

Henry Schein, Inc. is an American distributor of health care products and services with a presence in 32 countries. The company is a Fortune World's Most Admired Company and is ranked number one in its industry for social responsibility by Fortune magazine. Ethisphere named Henry Schein as one of the 2023 World's Most Ethical Companies for the 12th consecutive year.

<span class="mw-page-title-main">Idexx Laboratories</span>

IDEXX Laboratories, Inc. is an American multinational corporation engaged in the development, manufacture, and distribution of products and services for the companion animal veterinary, livestock and poultry, water testing, and dairy markets. Incorporated in 1983 by David Evans Shaw, the company is headquartered in Westbrook, Maine, and in Hoofddorp, Netherlands for its EMEA divisions.

<span class="mw-page-title-main">Food microbiology</span> Study of the microorganisms that inhibit, create, or contaminate food

Food microbiology is the study of the microorganisms that inhabit, create, or contaminate food. This includes the study of microorganisms causing food spoilage; pathogens that may cause disease ; microbes used to produce fermented foods such as cheese, yogurt, bread, beer, and wine; and microbes with other useful roles, such as producing probiotics.

<span class="mw-page-title-main">Dover Corporation</span> American industrial conglomerate corporation

Dover Corporation is an American conglomerate manufacturer of industrial products. The Downers Grove, Illinois-based company was founded in 1955. As of 2021, Dover's business was divided into five segments: Engineered Products, Clean Energy and Fueling, Imaging & Identification, Pumps & Process Solutions and Climate and Sustainability Technologies. Dover is a constituent of the S&P 500 index and trades on the New York Stock Exchange under "DOV". Dover was ranked 445 in the 2023 Fortune 500. The company relocated its headquarters to Illinois from New York in mid-2010.

<span class="mw-page-title-main">3M</span> American multinational corporation

3M Company is an American multinational conglomerate operating in the fields of industry, worker safety, healthcare, and consumer goods. The company produces over 60,000 products under several brands, including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films, dental and orthodontic products, electrical and electronic connecting and insulating materials, medical products, car-care products, electronic circuits, healthcare software, and optical films. It is based in Maplewood, a suburb of Saint Paul, Minnesota.

Laboratory Corporation of America Holdings, more commonly known as Labcorp, is an American healthcare company headquartered in Burlington, North Carolina. It operates one of the largest clinical laboratory networks in the world, with a United States network of 36 primary laboratories. Before a merger with National Health Laboratory in 1995, the company operated under the name Roche BioMedical. Labcorp performs its largest volume of specialty testing at its Center for Esoteric Testing in Burlington, North Carolina, where the company is headquartered. As of 2018, Labcorp processes 2.5 million lab tests weekly.

The Defence Food Research Laboratory (DFRL) is an Indian defence laboratory of the Defence Research and Development Organisation (DRDO). Located in Mysore, Karnataka, it conducts research and development of technologies and products in the area of food science and technology to cater the varied food challenges for the Indian Armed Forces. DFRL is organised under the Life Sciences Directorate of DRDO. The present director of DFRL is Dr. A D Semwal.

Abcam Limited is a producer, distributor and seller of protein research tools operating worldwide from 13 locations with 1,800 employees of which 400 work in Research and Development (R&D). Abcam was listed on the Nasdaq and the London Stock Exchange until it was acquired by Danaher Corporation in 2023.

<span class="mw-page-title-main">Acme United Corporation</span> American scissors manufacturer

Acme United Corporation is a supplier of cutting, measuring and safety products for the school, home, office, hardware and industrial markets. The company was organized as a partnership in 1867 and incorporated in 1873 under the laws of the State of Connecticut. It is publicly traded on the NYSE Mkt with symbol ACU.

Abraxis BioScience was a global biopharmaceutical, and nano-medicine company that developed treatments for critically ill patients. It had over 2000 employees worldwide in 2007. Abraxis's portfolio included the world's first protein-based nanoparticle chemotherapeutic compound, called nab Technology. From this the company developed Abraxane, a treatment for metastatic breast cancer.

<span class="mw-page-title-main">Patterson Companies</span> Medical multinational company

Patterson Companies, Inc. provides products, technologies, services and business solutions to oral and animal health customers in North America and the U.K. The company was established in 1877 as a dental company. It entered the animal health industry in 2001 with its acquisition of Webster Veterinary and expanded with its 2015 acquisition of Animal Health International, Inc.

<span class="mw-page-title-main">Zoetis</span> American animal health company

Zoetis Inc. (/zō-EH-tis/) is an American drug company, the world's largest producer of medicine and vaccinations for pets and livestock. The company was a subsidiary of Pfizer, the world's largest drug maker, but with Pfizer's spinoff of its 83% interest in the firm it is now a completely independent company. The company directly markets its products in approximately 45 countries, and sells them in more than 100 countries. Operations outside the United States accounted for 50% of the total revenue. Contemporaneous with the spinoff in June 2013 S&P Dow Jones Indices announced that Zoetis would replace First Horizon National Corporation in the S&P 500 stock market index.

<span class="mw-page-title-main">Standard BioTools</span>

Standard BioTools Inc., previously known as Fluidigm Corp., offers analytical mass cytometry systems for flow cytometry and tissue imaging, along with associated assays and reagents, as well as an automated genomic analysis instrument and a variety of microfluidic arrays, or integrated fluidic circuits (IFCs), and consumables with fully kitted reagents. Custom assays and services are available with all systems and applications.

<span class="mw-page-title-main">Exact Sciences (company)</span> American company in Madison, United States

Exact Sciences Corp. is a molecular diagnostics company based in Madison, Wisconsin specializing in the detection of early stage cancers. The company's initial focus was on the early detection and prevention of colorectal cancer; in 2014 it launched Cologuard, the first stool DNA test for colorectal cancer. Since then Exact Sciences has grown its product portfolio to encompass other screening and precision oncological tests for other types of cancer.

3M Scott Fire & Safety is an American manufacturer of respiratory and personal protective equipment including supplied air and air purifying respirators, compressors, gas detection systems and thermal imaging cameras. The company was founded in 1932 as Uniloy Accessories Corporation, and is located in Monroe, North Carolina. In 2001 it was acquired by Tyco International and in 2017 it was acquired by 3M.

References

  1. 1 2 Cosentino, Lawrence (October 9, 2013), "Neogen CEO James Herbert honored for 30 years of restoration work on east side", City Pulse , Lansing, Michigan , retrieved August 26, 2016
  2. 1 2 3 4 5 "NEOGEN Form 10-K" . Retrieved September 22, 2022.
  3. ↑ Harvey, Joseph (October 20, 2015). "Neogen adds Canadian genomics division". Animal Pharm. Informa . Retrieved August 27, 2016.[ permanent dead link ]
  4. ↑ Alusheff, Alexander (August 27, 2015). "Neogen acquires UK-based firm Lab M". Lansing State Journal . Retrieved August 27, 2016.
  5. ↑ "Certification opens up market opportunities - Neogen". Food Quality News . June 6, 2013. Retrieved August 27, 2016.
  6. ↑ Plunkett, Jack W. (March 1, 2009). Plunkett's Companion to the Almanac of American Employers 2009: Mid-Size Firms. Houston, Texas: Plunkett Research. ISBN   9781593921262.
  7. ↑ "Neogen Acquires Brazilian Animal Genomics Company". Veterinary Week . May 9, 2016. Archived from the original on October 8, 2016. Retrieved August 27, 2016.
  8. ↑ "Neogen acquires Kerala-based food safety company". Business Standard . June 2, 2015. Retrieved August 27, 2016.
  9. ↑ "Neogen Acquires Assets of Chinese Distributor Anapure". Food Safety Magazine . December 8, 2014. Retrieved August 27, 2016.
  10. ↑ "Neogen Corporation (NASDAQ:NEOG) Market Cap Reaches 1.83B". Vanguard Tribune. February 23, 2016. Archived from the original on February 2, 2017. Retrieved August 27, 2016.
  11. ↑ "Neogen Corporation: Key Statistics - Yahoo! Finance". Finance.yahoo.com. Retrieved 2014-03-09.
  12. ↑ "Neogen Corporation: NASDAQ". Secfilings.nasdaq.com. Retrieved 2014-03-10.
  13. ↑ "Neogen partners with Chinese government". Neogen.com. February 9, 2006. Retrieved 1 July 2017.
  14. ↑ Kenney (1988), pp. 83-84
  15. ↑ New Alliances and Partnerships in American Science and Engineering. National Academies Press. 1986. pp. 114–115. Retrieved July 24, 2015.
  16. ↑ Deb Weis. "UK Part of Neogen's Animal Safety Success". Department of Agriculture, Food and Environment, University of Kentucky. Retrieved September 9, 2022.
  17. ↑ VanHulle, Lindsay (April 7, 2012). "Neogen CEO Herbert builds on biotech dream". Lansing State Journal . Retrieved July 24, 2015.[ dead link ]
  18. 1 2 Nair, Aishwarya (14 December 2021). "UPDATE 2-3M to combine food-safety business with Neogen". Reuters .
  19. ↑ Stebbins, Jack (26 July 2022). "3M will spin off its health-care business into a new public company". CNBC .
  20. ↑ Beene, Ryan (September 1, 2022). "Memo: 3M plans to cut jobs in response to slowing economy". Star Tribune .
  21. ↑ Batt (1999), p. 344
  22. ↑ Raugel (2012), pp. 419-427
  23. ↑ Batt (1999), p. 231
  24. ↑ "Neogen Corporation reuters.com". Reuters.com. Archived from the original on 2011-10-10. Retrieved 2014-03-10.
  25. ↑ "Neogen Corporation marketwatch". Marketwatch.com. Retrieved 2014-03-10.
  26. ↑ "Lansing's Neogen Buys Iowa Insecticide Maker". CBS Detroit . Detroit, Michigan. January 2, 2014. Retrieved August 27, 2016.

Literature cited

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.