Expansion of Medicinal Cannabis Supply to Costa Rica
Bioxyne, an Australian pharmaceutical company listed on the Australian Securities Exchange (ASX: BXN), has entered into a significant agreement for the first international supply of medicinal cannabis flower into Costa Rica. This marks a pivotal step in the company’s strategy to expand its presence in the Latin American market.
The agreement was facilitated through Bioxyne’s wholly-owned subsidiary, Breathe Life Sciences (BLS). Under this arrangement, BLS has executed an expanded supply agreement with Remidose LATAM SRL to include the supply of three Dr Watson cannabis flower stock keeping units (SKUs) to Costa Rica. This development represents the first international supply of medicinal cannabis flower in the country’s regulated market.
Key Details of the Agreement
- First supply agreement for medicinal cannabis flower to Costa Rica
- Expanded supply agreement to supply three Dr Watson cannabis flower SKUs
- Represents the first international supply of medicinal cannabis flower in Costa Rica
- Initial shipment to be made prior to 30 June 2026
The agreement builds upon an initial December 2025 deal, which has now been expanded to include the supply of cannabis flower. This expansion highlights strong early-stage demand and reinforces the strategic alignment between Bioxyne and Remidose.
Under the expanded agreement, Bioxyne will also supply cannabis pastilles for distribution into Costa Rica and Panama, further strengthening its presence across Latin American markets.
CEO Comments on Market Opportunities
Sam Watson, CEO of Bioxyne, emphasized that the expansion with Remidose is a testament to how quickly opportunities can evolve once a company establishes a presence in new markets. He noted that the transition from the initial agreement to a broader supply scope has occurred rapidly, reflecting both the strength of the relationship and the level of demand observed on the ground.
Watson highlighted that while the Latin American market is still in its early stages of development, it presents significant opportunities. Being the first to supply branded medicinal cannabis flower into Costa Rica positions Bioxyne ahead of competing suppliers and provides a platform to expand into other Latin American jurisdictions as those markets continue to open.
Product Registration and Initial Shipments
Product registration for Costa Rica is well advanced, with initial shipments of Dr Watson cannabis flower expected prior to 30 June 2026. The first shipment is anticipated to exceed $500,000. Based on current demand forecasts, the company expects repeat orders, subject to market conditions and regulatory approvals.
Michael Mayne, Managing Director of Remidose, noted that early indications of demand have been exceptionally strong. He suggested that initial stock may be fully committed before the product even arrives in the market.
Market Potential in Costa Rica
Watson pointed out that Costa Rica represents an early-stage regulated medicinal cannabis market with limited competition and significant long-term growth potential. This is supported by evolving regulatory frameworks and increasing patient access.
Current Market Status
As of now, BXN is steady at 1.8¢, with a market capitalization of $12.60 million.
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