BUZZ-Neogen shares fall after FDA issues warning letter on animal drug products

September 29 - ** Shares of food and animal safety solutions company Neogen (NEOG.O) fell by 3.5% to $13.23

** The U.S. Food and Drug Administration (FDA) has issued a warning letter to Neogen and its contract manufacturer Sciarra Aeromed, after a product promoted as sterile wound care was found to be linked to severe fungal infections in nearly 100 horses

** According to the FDA, at least 20 horses were euthanized after failing to recover from joint infections

** The FDA stated that Neogen recalled the product Vet HYCOAT in late January

** FDA tests found multiple types of fungi in samples of the product, including Purpureocillium lilacinum, a pathogen that is usually difficult to treat with antifungal drugs

** According to the agency, the reported number of deaths in this incident is the highest ever caused by quality issues with FDA-regulated veterinary medical products in horses

** Including this trade, NEOG stock is up 88% year-to-date

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