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Neogen Announces Sale of Genomics Business to Zoetis

  • Neogen Corporation entered a definitive agreement to sell its global genomics business to Zoetis Inc. for $160 million, subject to customary closing adjustments.
  • The divestiture is part of Neogen's portfolio review strategy to simplify operations & focus on core strategic markets in food & animal safety.
  • The transaction is expected to close by the end of the first half of Neogen's 2027 fiscal year, pending regulatory approval & customary conditions.
  • Net proceeds from the sale are primarily intended for debt reduction to accelerate de-leveraging & improve profitability.
  • The Genomics business (GeneSeek®), which includes the Igenity® & GGP® portfolios, generated approximately $90 million in sales during fiscal year 2025.
  • Guggenheim Securities LLC served as the exclusive financial advisor to Neogen on this transaction.