Bubs shares surge after winning deal to ease US formula crisis

that “27.5 million bottles of safe infant formula manufactured by Bubs Australia are coming to the United States”.

“This is a game changer for us. The toddler segment of the market is a very small niche segment, a large majority of infant nutrition takes place between zero and 12 months. This was always a space that we had wanted to enter.”Bondi Partners, led by founding partner and former treasurer and US ambassador Mr Hockey, includes Peter McGauran and Peter Beattie among its well-connected advisers based in Washington and Sydney.

“Absolutely not. We always make sure that our Australian home base is protected. We’re not just talking about one product here, every single one of our infant formula products ... have all been approved for immediate import at once,” she said. The US formula market is highly concentrated, with the top four players accounting for about 90 per cent of the market.

“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.

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