Australia’s Bioxyne Limited (ASX: BXN) has announced its subsidiary, Breathe Life Sciences (BLS), has manufactured and delivered Australia’s first pharmaceutical-grade cannabis pastilles – also known as gummies.
Bioxyne states the milestone marks a significant step in the evolution of local production and availability of medicinal cannabis products in Australia.
“BLS is the first Australian manufacturer to complete a commercial production run of pharmaceutical grade GMP-certified THC gummies,” says Sam Watson, who is Founder & CEO of Breathe Life Sciences and Managing Director of Bioxyne.
It looks like the company has plenty of interest in their pastille products. In what’s also claimed to be the first commercial sale of Australian-made edible cannabis products, BLS secured deposits on purchase orders of approximately $2 million for cannabis gummies containing cannabidiol (CBD) and/or delta-9-tetrahydrocannabinol (THC) back in July.
The firm has also inked a two-year manufacturing and supply agreement with what it says is one of Australia’s largest cannabis companies (the company’s name wasn’t provided). The deal is forecast to generate at least $28 million from the production of its edible products. To meet growing demand, BLS is ramping up its gummy manufacturing capacity threefold – from 2 million single doses to 6 million per month.
Breathe Life Sciences General Manager Jason Stephens said:
“Australia is fast becoming a global medical cannabis hub and BLS is quickly becoming a substantial proponent of that. Our focus is building strong ties with our business customers and providing high-quality GMP-certified manufacturing services.”
The firms say the local edibles opportunity is expected to grow from approximately 1% of the ~$500 million per year Australian medical cannabis market this year to more than 20% by 2030 – potentially $150 million per year.
Gummies and other edibles, manufactured properly with tight quality controls and testing, can offer better dosage control compared to smoking cannabis, and mitigate the risks associated with combusting plant material. However, the delayed onset of effects associated with edibles can result in some people consuming a greater dose than needed, with potentially negative effects for a longer period.
