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    ATM   NZATME0002S8

THE A2 MILK COMPANY LIMITED

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End-of-day quote New Zealand Stock Exchange  -  2022-08-17
5.440 NZD   -0.37%
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Factbox-Global baby formula makers send products to restock U.S. shelves

06/03/2022 | 12:05pm EDT
FILE PHOTO: Empty shelves show a shortage of baby formula in San Antonio

(Reuters) - Global companies that make baby formula are bringing products into the United States after the country's health regulator relaxed its import policy to address a nationwide shortage partly triggered by Abbott Laboratories' manufacturing plant in Michigan recalling some products in February.

Importers include Neocate maker Danone SA, while New Zealand's dairy giants Fonterra and a2 Milk have submitted applications to the U.S. Food and Drug Administration (FDA) for supplying baby formula to the United States.

Once the products arrive in the country and receive a sign-off from the FDA, the manufacturers will distribute them through their existing supply chains and cater to unfulfilled orders, a spokesperson for the U.S. Department of Health and Human Services said.

Here's a list of companies that are bringing in baby formula to the U.S. market in the wake of the crisis:

Date of Manufacturer Major imports

announcement

May 27 Bubs Australia Ltd Plans to ship at least 1.25 million

cans of several varieties of its

formula

May 26 Danone SA Has doubled shipments of its

formula, with about 500,000

additional cans to be sent to the

U.S.

Nestle SA U.S. FDA says about 1.3

June 3 million cans of Nestle's Gerber Good

Start Gentle from Mexico to be

available from the beginning of July

through October.

June 2 Nestle SA U.S. FDA says 249,500 cans from

Germany of Nestle's NAN Supreme Pro

1 and NAN Supreme Pro 2 baby formula

to be available in June and July(https://bit.ly/3m8DqFS)

May 25 Nestle SA 114 pallets of Gerber Good Start

Extensive HA formula delivered in

Virginia

May 22 Nestle SA Has been flying supplies from the

Netherlands and Switzerland and

delivered 132 pallets of its Health

Science Alfamino and Alfamino Jr

infant formulas

May 24 Kendal Nutricare About 2 million cans of infant

formula expected to reach U.S. store

shelves from the UK, beginning June,

with 40,000 cans in stock for

immediate dispatch

May 16 Reckitt Benckiser Has boosted baby formula production

by about 30% and expediting the

approval of some products made at a

facility in Mexico

(Reporting by Deborah Sophia in Bengaluru; Additional reporting by Leah Douglas in Washington; Editing by Anil D'Silva)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BUBS AUSTRALIA LIMITED -1.63% 0.605 Delayed Quote.27.37%
DANONE -0.76% 53.68 Real-time Quote.-0.92%
FONTERRA SHAREHOLDERS FUND 0.64% 3.15 End-of-day quote.-15.78%
NESTLÉ S.A. -0.38% 116.42 Delayed Quote.-8.30%
RECKITT BENCKISER GROUP PLC -1.48% 6514 Delayed Quote.4.26%
S&P GSCI CLASS III MILK (USD) -1.92% 154.5938 Real-time Quote.0.39%
THE A2 MILK COMPANY LIMITED -0.37% 5.44 End-of-day quote.-8.26%
All news about THE A2 MILK COMPANY LIMITED
08/11Australian Dairy Nutritionals still in line to sell baby formula in U.S.
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08/10Australian shares end lower as tech stocks drag; focus on U.S data
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08/09Tech stocks, a2 Milk drag Australia shares lower ahead of U.S. inflation data
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08/09A2 Milk's hopes to sell baby food in U.S. curdled, shares plunge
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08/09NZ's a2 Milk says FDA has deferred request to supply baby formula
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08/02A2 Milk jumps before halt on FDA nod news, denies report
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07/20UBS Adjusts The A2 Milk Company's Price Target to NZ$9.50 from NZ$10.25, Keeps at Buy
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Financials
Sales 2022 1 389 M 871 M 871 M
Net income 2022 112 M 70,1 M 70,1 M
Net cash 2022 694 M 435 M 435 M
P/E ratio 2022 35,4x
Yield 2022 -
Capitalization 4 046 M 2 543 M 2 537 M
EV / Sales 2022 2,41x
EV / Sales 2023 2,08x
Nbr of Employees -
Free-Float 89,2%
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Number of Analysts 6
Last Close Price 5,44 NZD
Average target price 6,38 NZD
Spread / Average Target 17,2%
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Managers and Directors
David L. Bortolussi CEO, Managing Director & Director
David Lovat Hearn Chairman
Shareef Khan Chief Operations Officer
Julia Cecile Hoare Deputy Chairman
Warwick Lynton Every-Burns Independent Non-Executive Director