New Chinese taxes hammer Aussie infant formula companies

New Chinese taxes on imported products from the so-called “grey market” have left share prices of the major Australian infant formula suppliers Blackmores, Bellamy’s and A2 Organic reeling.

Although there has been a slight recovery, at its worst, Blackmores’ share price on the ASX plummeted by almost 20%.

As reported by Pharmacy News, the Chinese Government introduced new taxes earlier this month for goods