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NEOGEN (NEOG) Adds to Prozap Insect Control Product Line-up

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NEOGEN Corporation (NEOG - Free Report) recently launched the Prozap Protectus Pour-On Insecticide – IGR, the latest addition to its trusted Prozap insect control line. The new insect control product is a ready-to-use triple-active formula that kills chewing and sucking lice, horn flies, stable flies, and horse and deer flies. It is intended for use on beef cattle and calves.

Per management, the Prozap Protectus Pour-On product’s formulation offers beef cattle producers a unique choice compared to other products on the market. The new product will help reduce cattle handling, time, and labor costs associated with treatment.

The recent launch is likely to bolster NEOGEN’s complete insecticide product portfolio for farm, home and ranch settings.

More on the Prozap Protectus Pour-On

The Prozap Protectus Pour-On product has been developed with a unique mixture of active ingredients, including an insect growth regulator (IGR), adulticide and a synergist. It relieves cattle from infestations and kills louse eggs before hatching, resulting in season-long lice control in just one application.

The formula comprises 3% diflubenzuron, 2.5% piperonyl butoxide and 0.5% lambda-cyhalothrin. The product is applied along the back of the animal being treated with a graduated applicator gun.

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Industry Prospects

Per a report published in Mordor Intelligence, the insecticides market is expected to see a CAGR of 5% during 2022-2027. Factors such as growing demand for professional pest management products, increasing research and development activities by insecticide manufacturers and a rising need for increased agricultural productivity due to high food demand are likely to fuel market growth.

Given the market prospects, NEOGEN’s latest addition to the insecticide product portfolio comes at an opportune time.

Other Notable Developments

In March 2021, NEOGEN expanded its biosecurity portfolio with the addition of the Synergize RTU-- a ready-to-use formulation of the Synergize disinfectant. The new disinfectant and deodorizer eliminate the need to mix, saving users’ time and expenditure on personal protective equipment items required to handle the concentrate. The Synergize RTU is effective against Gram-negative and Gram-positive bacteria, fungi and viruses, including those causing avian influenza and COVID-19.

In February 2021, NEOGEN added the new K-Blue Luminescent to its trusted K-Blue product line. This novel chemiluminescent substrate is a two-component, luminol-based substrate with high sensitivity. The formula is optimized to emit maximum light at 430 nanometers, with very low background and a remarkable signal-to-noise ratio. It provides customers with the ability to develop more versatile and sensitive assays.

Price Performance

The stock has underperformed its industry in the past year. The company’s shares have lost 33.9% compared with the industry’s 18.8% decline.

Zacks Rank and Key Picks

Currently, NEOGEN carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the broader medical space are Owens & Minor, Inc. (OMI - Free Report) , Abiomed, Inc. (ABMD - Free Report) and McKesson Corporation (MCK - Free Report) .

Owens & Minor has a long-term earnings growth rate of 8.8%. Owens & Minor’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 29.5%, on average. It currently flaunts a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Owens & Minor has outperformed the industry over the past year. OMI has gained 12.5% against a 18.8% industry decline in the said period.

Abiomed has an estimated long-term growth rate of 20%. Abiomed’s earnings surpassed estimates in the trailing four quarters, the average surprise being 9.2%. It currently carries a Zacks Rank #2.

Abiomed has underperformed the industry over the past year. ABMD has lost 9.3% against the industry’s 3% fall over the past year.

McKesson has a long-term earnings growth rate of 11.8%. McKesson’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 20.6%, on average. It presently carries a Zacks Rank #2.

McKesson has outperformed the industry over the past year. MCK has gained 69.2% in the said period compared with 7.2% growth of the industry.