NEOGEN Business Summary

Neogen Corporation (NEOG) is a global leader in the food and animal safety sectors, generating revenue through the development, manufacturing, and sale of diagnostic test kits, culture media, veterinary instruments, and genomics services. The company operates through two primary segments: Food Safety and Animal Safety. The Food Safety segment provides rapid diagnostic tests for detecting foodborne pathogens, natural toxins, and allergens, while the Animal Safety segment offers veterinary pharmaceuticals, vaccines, biosecurity products, and advanced genomic testing for livestock and companion animals. Neogen competes directly with industry giants such as bioMérieux, Thermo Fisher Scientific, Hygiena, and IDEXX Laboratories. While it trails IDEXX in overall diagnostic market share, Neogen maintains a dominant position in rapid pathogen testing for food safety, commanding approximately 30% of that specific market niche. Founded in 1982 by James L. Herbert and Herbert D. "Ted" Doan (former CEO of Dow Chemical), Neogen is currently undergoing a strategic transformation under a refreshed leadership team. The company is led by CEO and President Mike Nassif, who joined in August 2025 from Siemens Healthineers, where he served as Global President of Point of Care Diagnostics. The executive suite includes CFO Bryan Riggsbee, formerly of bioMérieux; Chief Scientific Officer Dr. Jeremy Yarwood, an R&D veteran from Olympus and Abbott; and Chief Commercial Officer Joe Freels, previously of Cepheid. The Board of Directors is chaired by James C. Borel, a former DuPont executive, and includes notable members such as Thierry Bernard, CEO of QIAGEN. The company maintains high institutional backing, with major stakeholders including BlackRock and Vanguard holding significant portions of its nearly 97% institutional ownership.