Also from the AFR:
a2 Milk shares jump
Analysts have said Bubs was better placed over larger rival The a2 Milk Company to capitalise on the shortfall in baby formula in the US, but a2 Milk shares still jumped 10 per cent in morning trade.
The dual-listed New Zealand group gained 48¢ to $4.80 – the highest in two months by 2pm (AEST) – but still a fraction of the 12-month high of $7.39 hit in October.
A2 Milk chief executive David Bortolussi told the Financial Review the baby formula company was standing by to assist the US government in the crisis, leveraging its current fresh milk distribution in the US.
“We submitted an application to the US Food and Drug Administration last week under the temporary enforcement discretion to supply infant milk formula,” he said.
He said a2 Platinum infant milk formula could be sent from New Zealand, subject to stock availability.
A2 Milk supplies fluid milk, Half and Half and Hershey’s a2 Milk to about 27,000 stores for major customers in the grocery, natural and club channels in the US, but not baby formula.
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