LANSING - Neogen (NASDAQ:NEOG) Corporation (NASDAQ: NEOG), a global provider of food and beverage safety solutions, today announced the release of its Neogen Molecular Detection Assay 2 for Salmonella Enteritidis and Salmonella Typhimurium (MDA2SEST). This new assay is designed to enhance pathogen testing protocols in the poultry industry by offering improved accuracy and faster results.
The MDA2SEST kit, which has received AOAC Research Institute Performance Tested Methods Program certification, is part of Neogen's Molecular Detection System platform. It specifically targets two pathogenic serotypes of Salmonella that are often implicated in foodborne illness outbreaks. The technology aims to streamline workflow for food safety professionals, allowing for concurrent testing with other molecular assays offered by Neogen.
John Adent, President and CEO of Neogen, stated, "This isothermal molecular assay overcomes certain limitations of existing solutions, such as traditional serology and PCR-based methods." He emphasized that the new product is set to enhance productivity and ease of use for customers.
The Neogen Molecular Detection System, recognized for its combination of isothermal DNA amplification and bioluminescence detection, is currently utilized in over 40 countries by various entities including food processors, universities, and government agencies.
The AOAC Research Institute's Performance Tested Methods Program has assigned the MDA2SEST assay PTM Certification No. 122302, indicating that it has passed a rigorous independent review process.
Neogen's commitment to global food security is evident in its expansive product range, which addresses food safety, livestock, and pet health and wellness. The company operates internationally, with a presence in over 140 countries.
This article is based on a press release statement from Neogen Corporation.
InvestingPro Insights
Neogen Corporation (NASDAQ: NEOG), while expanding its product offerings with the new MDA2SEST assay, also presents an interesting profile from a financial perspective. According to InvestingPro data, Neogen has a market capitalization of $2.69 billion and has experienced significant revenue growth of 28.93% over the last twelve months as of Q3 2024. This growth is a testament to the company's expanding influence in the food safety sector.
Despite recent market challenges, with the stock declining over the last month, Neogen's fundamentals show resilience. InvestingPro Tips highlight that the company is expected to grow its net income this year, and analysts predict profitability, which could signal a positive outlook for investors. Moreover, with a gross profit margin of 51.32% during the same period, Neogen demonstrates strong operational efficiency in its niche market.
Investors may also take note that the company trades at a high earnings multiple, with a P/E ratio adjusted for the last twelve months at 50.61. This could indicate market confidence in Neogen's future earnings potential, especially considering its role in global food security and safety. Additionally, Neogen's liquid assets exceed its short-term obligations, providing financial stability and the ability to invest in growth opportunities such as the development of the MDA2SEST assay.
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