Neogen falls after FDA issues warning letters over veterinary product
NEOG•Neogen shares fell 3.5% to $13.23 after the FDA issued warning letters to the company and contract manufacturer Sciarra Aeromed over a wound-care product linked to serious fungal infections in nearly 100 horses. At least 20 horses were euthanized, and Neogen recalled the product in late January.
1. FDA warning letters
The FDA issued warning letters to Neogen and contract manufacturer Sciarra Aeromed after Vet HYCOAT, a wound-care product marketed as sterile, was linked to serious fungal infections in nearly 100 horses. The agency said at least 20 horses were euthanized after treatment for joint infections failed, and that testing found several types of fungi in product samples, including Purpureocillium lilacinum, which can be difficult to treat with antifungal drugs. Neogen recalled Vet HYCOAT in late January. The FDA said the reported deaths were the largest number of horse fatalities associated with a quality problem involving an FDA-regulated veterinary medical product.
