Just what the doctor ordered for Bioxyne’s Dr Watson brand

Bioxyne’s acquisition of Breathe Life Sciences is paying off with its well-established Dr Watson® brand of cannabis products continuing to be a consumer favourite.

Healthcare company Bioxyne (ASX:BXN) has announced it hit a $1 million annualised revenue run rate in May 2023 for its trademarked Dr Watson brand sales to Amazon in the UK.

In March 2023, after several months of negotiations, BLS was invited by Amazon to the exclusive invite-only CBD pilot program in the UK. BLS has 4 CBD brands registered and approved by Amazon, including its internationally established Dr Watson brand.

CEO Sam Watson says “the power of being approved as a vendor to Amazon in the UK is huge for the growth and establishment of our brands in the UK market. We are now hard at work getting our CBD products approved by Amazon in Japan, Germany, France and USA.”

The company is now preparing to ramp up sales to Amazon, a multi-million dollar per month marketplace for CBD products in the UK, EU, and Japan.

Dr Watson® is part of Breathe Life Sciences (BLS), recently acquired by BXN, which is focused on new-pharmacopoeia alternative medicines such as medicinal cannabis, MDMA, Psilocybin, and “pre-pharmaceutical” consumer healthcare products such as mushrooms, nootropics, and novel food supplements sold to businesses and direct to consumer.

BLS is also a leading supplier of cannabis-derived raw materials and active pharmaceutical ingredients (APIs) globally.

BLS’s Dr Watson brand has become a market leader in CBD and mushroom products in the UK and Japan, where it is one of only a few CBD brands approved as a vendor to Amazon.

The company was co-founded by Sam Watson, who after its acquisition is now the BXN co-CEO.

Positioned for strong growth

Watson said for Dr Watson to hit $1 million revenue run rate in May 2023 after only a few months of finalizing its deal with Amazon UK shows the strength of brand and product range, which includes a range of hemp-derived products, CBD oils and edibles, to mushroom nootropics along with New Zealand Manuka honey.

“We anticipate Amazon will become a multi-hundred million dollar marketplace for CBD health and wellness products. It’s a huge step for us to be listed, one of only a handful of approved Amazon vendors for CBD, and already reaching the top of the rankings.”

Watson said the company now plans to increase sales of Dr Watson® on Amazon in other targeted markets.

“After seeing the speed and scale of our products on Amazon, we are now working twice as hard to get them live in the USA, Japan, other EU markets. We are also in the process of launching Dr Watson mushroom supplements and nootropics on Amazon Australia.”

In Australia, where CBD is a scheduled drug, BLS sells prescription only CBD and cannabis products to pharmacies, licensed companies, offering telemedicine consultations at BLSclinics.com.au.

Countdown to July 1 TGA changes

In Australia, BLS holds licenses to import, export, wholesale Schedule 3, 4, and 8 controlled substances including medicinal cannabis and ketamine.

The company is awaiting its TGA Pharmaceutical GMP inspection scheduled for September 2023, allowing it to scale its existing production capabilities significantly.

However, it is now just days away from also being able to import MDMA and Psilocybin into Australia, facilitating online patient consultations with psychiatrists under the authorized prescriber scheme and access to these alternative medicines.

From July 1, Australia medicines containing the psychedelic substances psilocybin and MDMA (3,4-methylenedioxy-methamphetamine) can legally be prescribed by authorised psychiatrists in Australia for treating certain mental health conditions such as PTSD (post traumatic stress disorder) and TRD (treatment resistant depression).

BLS holds licences to import post July 1 MDMA and psilocybin.

“We are in a unique position in Australia, which has become the most exciting and progressive country in the world to be involved with novel medicines such as cannabis and psilocybin.”

Australia is the first country in the world to recognise the therapeutic benefits of psilocybin and active drug psilocyn derived from magic mushrooms and MDMA.