Why Bioxyne Ltd shares rocketed 85% higher today

The Bioxyne Ltd (ASX: BXN) share price has been a huge mover during trade on Thursday.

In early afternoon trade the Australian life sciences and health products company’s shares are up a massive 77% to 8.3 cents. In earlier trade they climbed as high as 8.7 cents, a daily gain of 85%.

What happened?

This morning Bioxyne announced that after being granted a direct sales licence in Malaysia it has launched three new products for the Asian market.

The first product is a dairy-based nutritional health drink for the whole family which includes an immune boosting probiotic and a range of key vitamins. The dairy base of the product comes from the world-renowned dairy region of Waikato, New Zealand.

The second is a weight loss product for women which contains a unique blend of soy protein isolate and New Zealand apple dietary fibre. According to management, Allura is unique in that it also contains marine-based collagen effective for anti-ageing, hydration, and wrinkle reduction.

The third and final product is an anti-aging serum to reduce fine lines and wrinkles. It is made through a unique combination of New Zealand natural ingredients including plant stem cell extract and bee venom.

Management has stated that its distributor base has been eagerly awaiting these products and with the infrastructure now in place it is looking forward to gathering sales momentum as it moves into 2018.

Furthermore, the company is also developing direct sales business in other Asian countries, including obtaining direct sales licences where appropriate.

What now?

In light of these product launches, I think Bioxyne will be one to watch in 2018.

We have seen previously with a2 Milk Company Ltd (Australia) (ASX: A2M) just how popular New Zealand made produce is in Asia. Whether Bioxyne’s products will also become as popular, only time will tell, but I think it is well worth having its shares on your watch list and looking out for period sales updates.

In the meantime, don't miss these hot tech shares in 2018. I'm tipping them to smash the market next year.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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