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Neogen (NEOG) to Offer New Biosecurity Solution in Canada
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Neogen Corporation (NEOG - Free Report) recently gained approval from the Natural and Non-Prescriptive Health Products Directorate Branch of Health Canada to distribute Neogen Viroxide Super across the country. The new biosecurity solution is effective against a variety of industry-relevant bacteria and viruses, including COVID-19 and avian influenza.
The latest authorization adds to the clearances from other global regulatory agencies, including the U.S. Environmental Protection Agency (EPA), for using the disinfectant to combat the spread of disease.
The Neogen Viroxide Super strengthens Neogen’s comprehensive suite of biosecurity offering, which was developed for use in the company’s agricultural markets and to prevent disease spread.
More on the Neogen Viroxide Super
The Neogen Viroxide Super is a peroxygen-based powder disinfectant containing potassium peroxymonosulfate and sodium chloride as active ingredients. It allows for rapid broad-spectrum disinfection as part of a comprehensive biosecurity program and can be used to disinfect animal housing and equipment, boot baths, vehicles, and other hard, non-porous surfaces. The product works well in hard water and its preparation is made easier by a color change to green when it is ready to use.
Image Source: Zacks Investment Research
Per management, the biosecurity solution is ideal for use in production and companion animal facilities, farm premises and aquaculture environments. It aids in protecting animals, food and people from bacteria and viruses.
Industry Prospects
Per a report by Coherent Market Insights, the global disinfectants market is set to witness a CAGR of 6% during 2020 to 2027. The growing demand for disinfectants from water treatment and healthcare industries can be attributable to market growth.
Given the market potential, the regulatory approval for the Neogen Viroxide Super in Canada seems well-timed.
Other Notable Developments
In June 2022, Neogen noted the launch of Prozap Gamma-Defense Insect Control Solution for poultry producers. The Prozap Gamma-Defense is a micro-encapsulated, slow-release insecticide for use in and around poultry, and other livestock housing, buildings and structures. The solution will control litter beetles, flies, fleas, ticks, and other listed pests. The new insect control solution for poultry producers is the latest addition to the company’s Prozap product line.
In May 2022, the company, in collaboration with Gencove, announced the launch of InfiniSEEK — an innovative, cost-effective solution for whole genome sequencing and targeted SNP analysis. InfiniSEEK is Neogen's first commercial product developed on the Gencove software and analysis platform. It allows for simultaneous low-pass whole genome sequencing and high-coverage genotyping at regions of interest. This development will enable Neogen to continue offering advanced genomic solutions, strengthening the global foothold.
Share Price Performance
Shares of NEOG have underperformed its industry in the past year. The stock has lost 43% in a year compared with the industry's fall of 23.8%.
Zacks Rank and Key Picks
Currently, Neogen carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Medpace Holdings, Inc. (MEDP - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 1.1%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.6%, 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.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 2.9% against the industry’s 64.6% fall.
Medpace has a historical growth rate of 27.3%. Medpace’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%. It currently has a Zacks Rank #2.
Medpace has outperformed its industry in the past year. MEDP has declined 14.2% compared with the industry’s 64.6% fall.
UnitedHealth has an estimated long-term growth rate of 14.8%. UnitedHealth’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%. It currently carries a Zacks Rank #2.
UnitedHealth has outperformed the industry over the past year. UNH has gained 22% compared with 18.3% industry growth in the said period.
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Neogen (NEOG) to Offer New Biosecurity Solution in Canada
Neogen Corporation (NEOG - Free Report) recently gained approval from the Natural and Non-Prescriptive Health Products Directorate Branch of Health Canada to distribute Neogen Viroxide Super across the country. The new biosecurity solution is effective against a variety of industry-relevant bacteria and viruses, including COVID-19 and avian influenza.
The latest authorization adds to the clearances from other global regulatory agencies, including the U.S. Environmental Protection Agency (EPA), for using the disinfectant to combat the spread of disease.
The Neogen Viroxide Super strengthens Neogen’s comprehensive suite of biosecurity offering, which was developed for use in the company’s agricultural markets and to prevent disease spread.
More on the Neogen Viroxide Super
The Neogen Viroxide Super is a peroxygen-based powder disinfectant containing potassium peroxymonosulfate and sodium chloride as active ingredients. It allows for rapid broad-spectrum disinfection as part of a comprehensive biosecurity program and can be used to disinfect animal housing and equipment, boot baths, vehicles, and other hard, non-porous surfaces. The product works well in hard water and its preparation is made easier by a color change to green when it is ready to use.
Image Source: Zacks Investment Research
Per management, the biosecurity solution is ideal for use in production and companion animal facilities, farm premises and aquaculture environments. It aids in protecting animals, food and people from bacteria and viruses.
Industry Prospects
Per a report by Coherent Market Insights, the global disinfectants market is set to witness a CAGR of 6% during 2020 to 2027. The growing demand for disinfectants from water treatment and healthcare industries can be attributable to market growth.
Given the market potential, the regulatory approval for the Neogen Viroxide Super in Canada seems well-timed.
Other Notable Developments
In June 2022, Neogen noted the launch of Prozap Gamma-Defense Insect Control Solution for poultry producers. The Prozap Gamma-Defense is a micro-encapsulated, slow-release insecticide for use in and around poultry, and other livestock housing, buildings and structures. The solution will control litter beetles, flies, fleas, ticks, and other listed pests. The new insect control solution for poultry producers is the latest addition to the company’s Prozap product line.
In May 2022, the company, in collaboration with Gencove, announced the launch of InfiniSEEK — an innovative, cost-effective solution for whole genome sequencing and targeted SNP analysis. InfiniSEEK is Neogen's first commercial product developed on the Gencove software and analysis platform. It allows for simultaneous low-pass whole genome sequencing and high-coverage genotyping at regions of interest. This development will enable Neogen to continue offering advanced genomic solutions, strengthening the global foothold.
Share Price Performance
Shares of NEOG have underperformed its industry in the past year. The stock has lost 43% in a year compared with the industry's fall of 23.8%.
Zacks Rank and Key Picks
Currently, Neogen carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Medpace Holdings, Inc. (MEDP - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 1.1%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.6%, 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.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 2.9% against the industry’s 64.6% fall.
Medpace has a historical growth rate of 27.3%. Medpace’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%. It currently has a Zacks Rank #2.
Medpace has outperformed its industry in the past year. MEDP has declined 14.2% compared with the industry’s 64.6% fall.
UnitedHealth has an estimated long-term growth rate of 14.8%. UnitedHealth’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%. It currently carries a Zacks Rank #2.
UnitedHealth has outperformed the industry over the past year. UNH has gained 22% compared with 18.3% industry growth in the said period.