A2 Milk’s baby formula foray into US frustrated by FDA delay | angus_dalton
Dairy company a2 Milk’s plans to follow competitors into the US baby formula market received another blow this week when the Food and Drug Administration deferred the company’s application to import milk formula into America.
A2 is one of 160 companies that have applied to patch the US’s baby formula crisis, hoping to follow local rivals Bubs Australia and Bellamy’s Organic into the world’s biggest market. The company’s share price tumbled 9 per cent to $4.65 by mid-afternoon. amid a severe shortage of baby formula in the country, sparked by the closure of a major manufacturing facility in Michigan linked to two deadly bacterial infections in infant.The supply deals were originally designed as emergency measures that would last until November.
Bubs CEO Kristy Carr : The smaller formula maker has raised its revenue forecasts thanks to the US deal.“We are well positioned to support the US, being one of the leading premium international infant milk formula brands. We have scalable production capacity in New Zealand plus existing sales, marketing and supply chain capability in the US distributing to all major retailers and around 27,000 stores nationwide that can be leveraged.
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