Neogen completes acquisition of U.S. rights and related assets of Elanco's StandGuard® insecticide

Rhea-AI Summary

Neogen Corporation (NASDAQ: NEOG) has completed the acquisition of the U.S. rights to Elanco's StandGuard® Pour-on, an insecticide for horn fly and lice control in beef cattle. This product enhances Neogen's agricultural insecticide portfolio, building on its previous acquisition of Chem-Tech in 2014. StandGuard is recognized as a top insecticide in the domestic beef cattle market. While specific financial terms were undisclosed, the acquisition is expected to strengthen Neogen's capabilities in animal safety and agricultural insecticides.

Positive

• Acquisition enhances Neogen's agricultural insecticide portfolio.
• StandGuard is a leading product for insect control in beef cattle.
• Strengthens Neogen's position in the animal safety market.

Negative

• None.

LANSING, Mich., Aug. 3, 2020 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that it has completed the previously announced acquisition of the U.S. (including territories) rights to Elanco's StandGuard^® Pour-on for horn fly and lice control in beef cattle, and related assets.

StandGuard Pour-on is one of the premier domestic beef cattle insecticide products, and represents an exceptional fit in Neogen's existing agricultural insecticide portfolio and organizational capabilities. Neogen entered the agricultural insecticide market with its 2014 acquisition of Chem-Tech.

Terms of the agreement were not disclosed.

Neogen Corporation develops and markets products dedicated to food and animal safety. The company's Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. Neogen's Animal Safety Division is a leader in the development of animal genomics along with the manufacturing and distribution of a variety of animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care and disinfectants.

CONTACT:  Steve Quinlan, Vice President & CFO
                     Neogen Corporation, 517/372-9200

 

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SOURCE Neogen Corporation

FAQ

What did Neogen Corporation acquire from Elanco?

Neogen acquired the U.S. rights to Elanco's StandGuard® Pour-on for horn fly and lice control in beef cattle.

How does the acquisition of StandGuard impact Neogen's portfolio?

It enhances Neogen's existing agricultural insecticide portfolio and complements its previous acquisitions.

When was the acquisition of StandGuard announced?

The acquisition was announced on August 3, 2020.

What is the significance of StandGuard in the beef cattle market?

StandGuard is recognized as one of the premier domestic insecticides for controlling horn flies and lice in beef cattle.

How did Neogen expand into the agricultural insecticide market?

Neogen entered the agricultural insecticide market through the acquisition of Chem-Tech in 2014.