A2 Milk sinks 11% as FDA defers new approvals

Market disappointed with A2 news. (Image: Getty)

Wed, 10 Aug 2022

A2 Milk sank 11% on news it won’t be sending infant formula to the lucrative US market any time soon.According to the company, the US Food and Drug Administration (FDA) is deferring further consideration of the company’s request for enforcement discretion to import infant milk formula products into the US.Last week, the company's shares jumped on an Australian news report that approval might be imminent. While A2 Milk moved quickly to dampen those expectations, the shares remained elevated, peaking at $5.64 on Friday.They recent...

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