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Neogen Faces Investigation Over Iranian Business Deals

Company has been cooperating with OFAC investigation

Iran globe VIA PIXABAY AUGUST 2021

Neogen Corp. received an administrative subpoena from the Treasury's Office of Foreign Assets Control ("OFAC") over the company's business dealings with an Iranian party, reports Seeking Alpha.

In its annual report, the food and animal safety products company said that the subpoena was received in March 2020 and it has been cooperating with OFAC's investigation.

Neogen said its own investigation found that "certain genomic testing services [were] provided to an unrelated U.S.-based party engaged in veterinary activities involving an Iranian party."

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