New Cannabis Ventures reported yesterday that the Food & Drug Administration (FDA) had issued 8 warning letters to marketers of hemp-derived CBD products, and the FDA actions are sending a chill throughout the industry. New Hope 360, which covers the healthy lifestyle industry and puts on the huge Natural Products Expos, summarized the implications and industry reaction, suggesting that the enforcement of rules regarding health claims could lead to a situation where CBD is available only in pharmacies as a prescribed drug.
The fact that GW Pharma (NASDAQ: GWPH) conducted clinical trials on a CBD product in 2007 (Sativex) is now an issue that hangs over the industry, as the FDA is citing the trials as a reason that products with CBD can no longer be called “supplements”. A spokesperson from GW Pharma stated that the company is not planning on the FDA to shut down the makers of CBD products.
Elixinol’s Director of Marketing, Chris Husong, is rooting for strict regulation. The company is “cautiously optimistic they will be able to survive.” New Cannabis Ventures published a response to yesterday’s FDA actions from another industry leader, CV Sciences (OTC: CANV), formerly CannaVest, yesterday. According to Sarah Syed, who has been Director of Marketing since 2014 and was previously with Nordic Naturals for six years, holding the position of Global Education Manager, stigma issues cloud the situation.
As a company, we are positioning ourselves outside of the marijuana discussion because we are in the business of hemp.
Sarah Syed, Director of Marketing at CV Sciences
Read Todd Runestad’s “Did FDA just kill off the CBD market?”: http://newhope360.com/supplements/did-fda-just-kill-cbd-market
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