How are Synlait’s (ASX:SM1) shares faring post US FDA nod?

November 04, 2022 11:27 AM AEDT | By Ritwika
Follow us on Google News:


  • Synlait has secured the US FDA permit to export its infant dairy products in US via The a2 Milk company.
  • Synlait’s shares closed trading at AU$2.850 per share on ASX by the end of Thursday’s trading session .

On 3 November 2022, the dairy product manufacturer Synlait Milk Limited (ASX:SM1) announced that its dairy products will now be exported to the United States for US-based consumers.  

The company’s share price settled at AU$2.850 per share on ASX by the end of Thursday’s trading session. (3 November 2022).

Details of Synlait’s recent update 

In an update today, Synlait announced that the US Food and Drug Administration (FDA) had executed its discretion that enables the a2 Milk Company (ASX:A2M) to import infant formula milk products into the United States. Synlait is expected to produce these dairy products for the a2 Milk Company.

Synlait added in its update that this approval from the FDA enables the import of the a2 Platinum® infant product (stages 1 and 2) from New Zealand into the United States. The import of this infant dairy product will begin now and continue until 6 January 2023.

Furthermore, the FDA’s permit also enables the a2 Milk Company to supply stage 3 infant products in addition to this, and it does not require the enforcement of any discretion.

Grant Watson, CEO of Synlait Milk Limited, said: 

However, Synlait mentioned in its update that the company chose to keep its FY23 guidance intact post this update.

Summary of Synlait’s share price performance on the ASX 

The share price of Synlait has declined by almost 12% on the ASX in the past 12 months. Furthermore, on a year-to-date basis, the company’s share price has fallen over 12% on the ASX (as of 3:00 PM AEDT on Thursday).


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK