The FDA announced it is hiring a third-party contractor to test CBD “and related cannabinoids” for the agency.
The Food and Drug Administration has posted notice for a contractor to test CBD “and related cannabinoids.” The announcement comes less than a month after the agency called for public comments on its guidance for cannabis-derived pharmaceutical research.
The state of New York will not submit a state hemp plan to the U.S. Department of Agriculture (USDA), saying the federal program‘s requirements are too strict on growers. The announcement effectively puts on hold the New York State Department of Agriculture and Markets’ hemp program.
One of the biggest threats facing CBD companies? Survival. CBD is already projected to hit over $16 billion in sales by 2024, so it's not surprising that there are over 3,000 brands in the market, hoping to ride the wave of success and reap the rewards.
The notion that cannabis may cure, treat or prevent COVID-19 makes some people roll their eyes. But the scientific uses of the cannabis plant do not surprise those of us who’ve worked in this industry for many years. And the scientific community appears to be gathering data supporting the notion that cannabis may be beneficial in preventing COVID-19.
The designation of the cannabis business as essential caught some states and some state officials off guard.
It was a classic watershed moment when 20 of the 33 states across the U.S. that allowed some form of sale and consumption of marijuana had those businesses designated as essential businesses in March during the early days of the coronavirus outbreak.
Scaling a business is always a high-stakes endeavor, but the risks are magnified in the hemp and cannabis space, where every business is in perpetual startup mode and regulations vary from state to state, week to week.
Just because it’s difficult doesn’t mean it can’t be done.
The perfect catch-22? The current legal status of cannabis prevents the clinical trials necessary to meet lawmakers' demands for more research.
Always the topic of great debate, cannabis science needs firmer foundations to be able to boldly uphold its value. Conflicting studies and claims have flown around for decades, but a different picture arises when consistent standards are applied.
And what the industry can do to ensure regulation in the near future.
It's been over a year since the 2018 Farm Bill legalized the commerce of hemp and CBD. Yet, CBD is still not regulated as a dietary supplement by the FDA.
This may come as a surprise to many people who’ve already incorporated CBD into their lives. Among the 14 percent of Americans who use CBD, most believe those products are FDA regulated.
