(This story has been updated to clarify that the CEO referred to state regulatory differences on CBD, not seizures of CBD.) CBD giant CV Sciences posted $10.2 million in profit last year, a big improvement from 2017, when the company lost roughly $4.9 million, according to the firm’s year-end fiscal report. The San Diego company, which […]
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SodaStream CEO invests in cannabis tech firm Seedo, joins board
The CEO of a beverage company recently acquired by PepsiCo is placing his bet on marijuana, joining the board of directors of and making a significant personal investment in an agriculture business working in cannabis production. Daniel Birnbaum, CEO of at-home carbonated drink maker SodaStream – which PepsiCo acquired last year for $3.2 billion – will join […]
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Hemp industry ponders CBD’s future after FDA commissioner’s resignation
Hemp and CBD industry leaders expressed mixed reactions to this week’s resignation of U.S. Food and Drug Administration (FDA) Commissioner Dr. Scott Gottlieb. Gottlieb’s resignation came just as the industry was hoping the FDA would start work on developing a framework for how cannabidiol could be regulated for inclusion in food, dietary supplements and cosmetics. […]
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Mile High Labs alleges copyright infringement in tobacco deal
Mile High Labs, a CBD extraction company in Loveland, Colorado, is suing a Rhode Island firm for stealing its extraction technology to secure investment from a tobacco company investing in hemp. Mile High said in its copyright-infringement lawsuit filed Tuesday that privately held CBD extractor Canadian American Standard Hemp (CASH) used work created by Mile High Labs […]
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CV Sciences taps dietary supplement expert to oversee compliance
CV Sciences, a San Diego CBD manufacturer, has lured a former dietary supplement executive to oversee its research and regulatory compliance.
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Report: FDA chief to resign, leaving CBD review in question
Just as the CBD industry was hoping to start work next month on the cannabinoid’s place in food, drugs and cosmetics, the head of the U.S. Food and Drug Administration chief is resigning. Dr. Scott Gottlieb, who told Congress last week that CBD can’t be added to consumer products, is leaving office in April, according […]
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Alabama state officials tell public to avoid CBD products
Retailers who sell CBD products in Alabama are getting mixed messages now that the Department of Health is asking the public to avoid using CBD. It’s a move that directly conflicts with the state’s direction in December that authorized hemp-derived CBD production and sales. While CBD derived from marijuana remains illegal, Alabama was the first […]
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FDA commissioner gives fresh details on CBD review
In two separate meetings over the past two days, the U.S. Food and Drug Administration offered a glimpse of potential CBD regulations to come and promised an April hearing to start work. FDA Commissioner Dr. Scott Gottlieb told state agriculture regulators that products not approved by the FDA and marketed with unproven claims about therapeutic benefits […]
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Earnings roundup: GW Pharmaceuticals awaiting big CBD drug sales as it reports losses
GW Pharmaceuticals, the drugmaker behind the only federally approved CBD product, is still losing money, though it says it’s happy with early sales of its seizure control drug Epidiolex. Last summer, Epidiolex became the first cannabis-derived treatment approved by the U.S. Food and Drug Administration, prompting the U.S. Drug Enforcement Administration to reschedule CBD under […]
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Martha Stewart enters the CBD game, will advise Canopy on products
Celebrity lifestyle guru Martha Stewart has agreed to advise Canadian marijuana giant Canopy Growth on hemp-derived CBD products. Stewart said the first collaboration will offer products for pets. Financial terms of the business partnership were not disclosed. The companies did not say if the CBD pet products would be sold in the U.S. or in Canada. Canopy […]
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California hemp company sponsored to help research high-CBD cultivars
A California hemp seed company and a traditional agriculture biotech firm have been tapped to breed improved industrial hemp cultivars for California. California Hemp Corp., based in Oakdale, and Benson Hill Biosystems, a Missouri crop-improvement company, have partnered in a sponsored research agreement with the University of California, Davis (UC Davis) to breed improved industrial hemp […]
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North Dakota court says CBD status not a ‘matter of great public concern’
North Dakota’s highest court has decided not to rule on the legality of hemp-derived CBD, upholding a drug conviction for a vape-shop owner who sold CBD. The court said that the retailer, Falesteni A. Abu Hamda, should have made his CBD argument earlier instead of accepting the state’s case against him. Hamda was charged with seven drug […]
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