|CONTACT: Richard R. Current, Vice President & CFO, 517/372-9200|
LANSING, Mich., March 3, 2003 - Neogen Corporation (Nasdaq: NEOG) announced today that it has no association whatsoever with the company mentioned in a recent CBS News report on home genetic testing.
The CBS News report apparently references Neo Gen Screening, a Pennsylvania-based laboratory. Neogen Corporation has a federal lawsuit against Neo Gen Screening for trademark infringement and other claims. Neogen is a registered trademark of Michigan-based Neogen Corporation. The Company says it does not expect the cost of this litigation to have a material impact on profits.
"This type of confusion is the exact reason we are seeking injunctive relief. We have received numerous calls and e-mails this morning for more information on the home genetic tests," said James Herbert, Neogen Corporation's president. "It is very easy to see how investors, or potential customers of the two companies, could be confused. We do not market home genetic tests, but we do market genetic-based tests for dangerous foodborne bacteria, as well as a number of products for the life sciences market."
Neogen Corporation does not market any of its testing products for home use. Neogen Corporation is a market leader in developing and marketing products and services dedicated to food and animal safety, and life sciences. The Company's Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, genetic modifications, metabolic disorders, food allergens, drug residues, plant diseases and sanitation concerns. Neogen's Animal Safety Division markets a complete line of diagnostics, veterinary instruments, veterinary pharmaceuticals and nutritional supplements.
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.