Life sciences and health products company Bioxyne (ASX: BXN) has launched three new products into the lucrative Asian market.
Included in the launch was the ‘B18’ dairy based nutritional health drink, weight management blend ‘Allura’ and beauty serum ‘BEssense’.
According to Bioxyne, its products are made from ingredients shown to provide a range of health and beauty benefits, in clinical trials and are also formulated and manufactured in New Zealand, seen by the Asian market as a ‘clean and environmentally green’ jurisdiction.
In late-October, Bioxyne was granted a direct selling licence in Malaysia, opening up the country’s multi-level market which is estimated to be worth around US$4 billion, making it one of the fastest growing direct sales markets in Asia.
Bioxyne now plans to commence marketing all of its products into Malaysia and has been backed with the initial order of 16,000 cans of BK18 for surrounding Southeast Asian countries.
The company is in the process of developing further direct sales businesses in Asia including Vietnam, Taiwan and Indonesia, who combined have a direct sales market worth approximately US$4.7 billion.
Bioxyne managing director NH Chua commented to today’s news, “Our distributor base has been eagerly awaiting these products and with the infrastructure now in place we look forward to gathering sales momentum as we move into 2018.”
Focusing on health and wellness products, primarily of the gut and immune system, Bioxyne is aiming to release new products in the 2018 that are currently under development.
With the Asian market now tapped, investors are seeing potential value in the company with BXN shares closing up 83% today on large volume, almost $4m worth of shares traded in the session.