“We are well positioned to support the United States, one of the world’s leading premium infant formula brands. We have scalable production capacity in New Zealand and our existing sales, marketing and , supply chain capabilities, and distribution to all major retailers and approximately 27,000 stores nationwide, which we can leverage.”
Despite the stock price plunge, Bortolussi said the short-term supply of formula milk to the U.S. would not have a significant impact on the company’s bottom line.
“We do not expect this opportunity during the current FDA enforcement discretion period to have a material impact on the company’s financial results in 2019. [financial year 2023] This is due to market dynamics and costs to serve the US infant formula market. ”
On the back of the U.S. deal, Bubs has raised its earnings forecasts and announced a $63 million capital raise to increase its workforce and manufacturing capacity.
A2 Milk baby formula hits US, frustrated by FDA delay
Source link A2 Milk baby formula hits US, frustrated by FDA delay