neog - Neogen's E.Coli Test adopted by Japan Message Board

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Biotech / Medical : neog - Neogen's E.Coli Test adopted by Japan

NEOG 6.170

+2.8%

Oct 31 9:30 AM EST

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To: Kramer who started this subject	7/27/2000 10:20:29 AM
From: Kramer	of 441

Neogen Signs Letter of Intent to Buy Squire Laboratories Thu Jul 27 09:03:00 EDT 2000 LANSING, Mich., Jul 27, 2000 /PRNewswire via COMTEX/ -- Neogen Corporation (Nasdaq: NEOG) announced today that it had entered into a Letter of Intent to acquire Squire Laboratories, and most of the company's product line. The purchase from the Revere, Mass., company is subject to due diligence and approval of Neogen's Board of Directors. Squire Laboratories is a specialized manufacturer of veterinary pharmaceuticals and other health products targeted mainly at the performance horse industry. Neogen officials indicated that even though Squire Laboratories' revenues from the product line for its most recent fiscal year were less than $1 million, Squire's products complement Neogen's existing product line for the performance horse segment of its Animal Safety Division. Neogen Corporation develops and markets products and services dedicated to food and animal safety. The Company's Food Safety Division markets diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. Neogen's Animal Safety Division markets a complete line of diagnostics, veterinary instruments and a line of premium equine health care products. Certain portions of this news release that do not relate to historical financial information constitute forward-looking statements. These forward- looking statements are subject to certain risks and uncertainties. Actual future results and trends may differ materially from historical results or those expected depending on a variety of factors listed in Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's most recently filed Form 10-K. SOURCE Neogen Corporation

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