President, Chief Executive Officer & Director, Neogen
Search every verified John Adent interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. John Adent, President and CEO of Neogen, discussed the company's acquisition of 3M's food safety business in a September 2022 interview on CNBC's "Mad Money." He stated that the business was one Neogen had "admired for a long time" and described it as "a great complementary fit." Adent said the deal "doubles the size of our business" and would allow Neogen to reach more customers while driving the industry forward through data analytics and blockchain solutions. He explained that blockchain technology enables traceability, giving an example of being able to tell a customer where an animal lived and what it ate from a sample of beef. In a December 2020 earnings call for the first quarter of fiscal year 2021, Adent reported increased revenues and net income despite the COVID-19 pandemic. He noted that Neogen made sanitizers and disinfectants available outside traditional markets to assist civic efforts against COVID-19. Adent also highlighted the launch of the Solaris next-generation test system, doubled revenues in China, and growth in rodenticide sales in the Pacific Northwest and metropolitan markets. He stated that Neogen was investing in R&D and pursuing acquisitions to stay competitive.
“That's exactly right, you know, that's a business that we've admired for a long time, that 3M business, and we think it's a great complementary fit for us. They've got tremendous IP, they've got employees that are passionate about food safety just like we are, and by bringing it into us we can allow and give them the r...”
“It doubles the size of our business and it really allows us to reach more customers more often with a real unparalleled product offering. Not only does it going to do that, it's going to help us drive this industry forward through our data analytics platform and our blockchain solutions that really increase the efficie...”
“Our blockchain customers on beef, for example, when you go to the store and buy one of our customer steaks and you take it home, if you send me a sample, I'm going to be able to tell you where that animal lived, what that animal ate, all the inputs into that animal, every single stop along the way till it got to your d...”
“We're pleased to report increased revenues and net income compared to our prior year's first quarter in a very difficult operating environment.”
“We continue to take extraordinary measures to protect our business and employees — we remain vigilant with our COVID-19 safety measures and are constantly adding to our list of alternate suppliers and seeking more efficiencies with our production facilities.”
“The National Restaurant Association found one in six restaurants in the U.S. will either close for an extended period or closed permanently — that means more than a hundred thousand restaurants and an associated estimate that the domestic restaurant industry will lose $240 billion in sales by the end of 2020.”
“While the future is unclear due to COVID-19, what is clear is the future of Neogen — we will find opportunities for growth and development in all of our markets.”
“Neogen was built to respond in times of crisis and we have responded — we've done our best to assist broader civic efforts to combat COVID-19 by making our sanitizers and disinfectants available outside of our traditional agriculture and veterinary markets.”
“In July we launched our new Solaris next generation — an automatic test system that detects microorganisms such as yeast and mold in a fraction of the time of traditional test methods and it has been receiving very positive reviews.”
“Our revenues in China more than doubled for the quarter; our animal safety and genomics revenues have more than doubled there and we've had solid broad-based gains in food safety.”
“The big lift for us on the rodenticide was really in the Pacific Northwest in the ag market, and we're also seeing a lift in the PCO metropolitan market — it's relatively new to Neogen but one we see long-term growth opportunities in.”
“We've seen competitors continue to launch and consolidate — Hygiena launched a new ATP reader and PerkinElmer bought that business in China — so we continue to invest in R&D to stay ahead while also pursuing acquisition opportunities from a strong pipeline.”
“We've learned that many back-office roles can work remotely, we've developed virtual labs and virtual installations for customers, and those changes have made us more efficient and, I believe, better.”
Neogen President and CEO John Adent joined CNBC's Jim Cramer on Wednesday's episode of "Mad Money," one day after ...
Sign in to search the full transcript archive, filter by topic, and access every quote from John Adent.
The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →