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Neogen Reactivates Share Repurchase Program

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LANSING, Mich., / - / -- Neogen Corporation (Nasdaq. Although 33 states and the District of Columbia reported lower
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rates in 2008 than in 2007, 17 states had higher rates. In 2008, TB rates ranged from 0.5 per 100,000 in North Dakota to 9.6 per 100,000 in Hawaii, the study said. Neogen will announce results for the third quarter of its 2009
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fiscal year, which ended on March 19.

Worldwide, about 2 billion people are infected with TB-causing bacteria. "The price of Neogen shares is at the lowest level in nearly two years," said Eugenius

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Herbert, Neogen's CEO. The analysis of 2008 data also
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sho that among the 7,652 people with TB who have a known HIV test result, slightly more than 10% were confirmed to have HIV. Centers for Disease Control and Prevention reported 12,898 new cases of TB in 2008, which equals 4.2 cases per 100,000 people. Certain portions of this news release that do not relate to historical financial information constitute forward-looking statements. Tuberculosis cases had declined steadily in the United States in the three
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decades from 1953, when there were 84,304 reported
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cases, to 1985, with 22,201 cases. In December, Neogen's Board of Directors authorized the repurchase of up to 500,000 shares.

Rates among Hispanics, blacks and Asians were 7.5, 8.1 and 23.4 times higher, respectively, than among whites in 2008.

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Neogen Corporation develops and markets
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products dedicated to food and animal safety. In 2006, about 9.2 million people became ill from TB and 1.7 million died from the disease. The company's Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, genetic modifications,
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food allergens,
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drug residues, plant diseases and sanitation concerns. Four states -- California, Florida, New York and Texas -- reported more than 500 TB cases each in 2008.

People from racial and ethnic minorities and foreign-born residents continue to be disproportionately

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affected by TB, the
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CDC said. The authors of the report said that more action is needed to tackle the slowing decline in TB rates and the continuing disparities between minorities and whites and between people born in the United States and those born elsewhere. Actual future results and trends may differ materially from historical results or those expected
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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. "We believe the price is an extraordinary value given the company's fundamentals and performance that have withstood the worst overall economy in decades." Neogen's second quarter
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was the 63rd consecutive profitable quarter from operations for the company, and the 67th quarter of the past 72 quarters to show increased revenues as compared with the previous year--a span of 18 years.

NEOG) announced today that on it initiated its current com stock repurchase program. News Articles Next

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Article. Accordingly,
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there is no guarantee of the exact number of shares to be repurchased. Combined, these four states accounted for 49.2% of all TB cases in the country last year. In addition, the report found that a type of TB that is resistant to at least two important first-line drugs -- isoniazid and rifampin -- accounted for 1.2% (125) of all TB cases in the United States
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for which drug-susceptibility data were available.

These forward-looking statements are subject to certain risks and uncertainties. Shares have been, and additional shares are expected

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to be, acquired on the open market or in negotiated transactions, depending on market conditions and other factors. Shares repurchased under the program will be retired. The findings, which came from analysis of data from the National TB Surveillance System, were published in the Morbidity
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and Mortality Weekly Report, published
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by the CDC. The company had 14,600,000 shares outstanding on.

In 2007, five states had at least 500 cases, and seven states recorded that many in 2006. Printer-Friendly Format Email to a Friend. Neogen's Animal Safety Division markets a complete line of diagnostics, veterinary instruments, veterinary pharmaceuticals, nutritional

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supplements, disinfectants, and rodenticides.

This led to julio TB prevention and control efforts during the 1990s, but the average annual decline has slo since 2000. However, the CDC report also noted that progress in eliminating tuberculosis has slo in recent years, with a 3.8% average annual rate of decline between 2000 and 2008, compared with a 7.3% rate of decline from 1993 to 2000. But the number of cases lind again, by 20%, between 1985 and 1992, when 26,673 cases were reported. The TB rate among foreign-born residents was 20.2 cases per 100,000, which is 10 times higher than the two cases per 100,000 among people born in the United States.


   





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