A2 Milk Company Ltd. said on Wednesday the U.S. Food and Drug Administration (FDA) deferred its request to sell infant milk formula products in the United States, sending its shares down more than 12 percent.
The dairy producer and rival Fonterra have been advised by U.S.-based trade group International Dairy Foods Association (IDFA) that the FDA has sent similar letters to all firms seeking approvals to sell infant milk formula in the United States.
Fonterra, however, told Reuters that it had not yet received any such notice from the FDA itself.
An FDA spokesperson told Reuters in an email response that the FDA had sent letters to some firms, not all, deferring further reviews of applications due to a list of issues….