Michigan is opening its CBD market beyond medical marijuana dispensaries after the governor signed a bill enabling the manufacture and use of hemp-derived CBD, the Detroit Free Press reported. The new law reverses a CBD limit enacted in May 2018 by Michigan’s Department of Licensing and Regulatory Affairs and the Bureau of Medical Marihuana Regulation, […]
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Mainstream consumer products branding firm buys CBD company in deal valued at $120M
In a deal directly related to the U.S. legalization of hemp in December, a firm that specializes in branding consumer-product companies acquired CBD manufacturer Cure Based Development. The sale, an all–stock transaction, is valued at $120 million based on expected revenue of $300 million over the next five years. Level Brands (NYSE: LEVB), whose portfolio includes […]
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Nebraska’s war on CBD continues, but prosecutor says lawmakers can ‘fix it’
A CBD American Shaman store south of Omaha received a cease-and-desist letter from a local prosecutor ordering the removal of cannabidiol products by the end of next week. The order comes despite the fact that hemp-derived CBD is no longer a controlled substance under federal law. However, Nebraska state law still bans “all parts” of the […]
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FDA to give CBD industry ‘predictable’ guidelines but repeats cannabidiol not allowed in food
In response to hemp legalization being signed into law Thursday, the U.S. Food and Drug Administration issued a reminder that CBD and THC are still not legal to add to food – but promised further review of its guidelines.
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CBD boom goes bust in Austria as officials ban the extract in food, cosmetics
Austria’s Minister of Health ordered businesses to immediately stop selling CBD food and cosmetics because the products fall under the European Union’s definition of “novel food.” Cannabidiol is explicitly included in the EU’s novel food catalog, which means individual member countries may limit the marketing and sale of it without specific authorization. Business Association Cannabis Austria CEO Stefan Wolyniec […]
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‘Potential is limitless’: Nevada CBD manufacturer inks nationwide deal with drugstores
A manufacturer making topical pain relievers with hemp-derived CBD plans to distribute its products nationwide through a network of independent drugstores, a deal announced in advance of expected Farm Bill approval by President Donald Trump in coming days. Leading Edge Pharma of Henderson, Nevada, announced Monday that its Cannavera line of CBD-infused creams, sprays and […]
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Alabama authorizes CBD production and sales, citing Farm Bill
Alabama has changed course and authorized hemp-derived CBD production and sales, citing the pending Farm Bill that removes the plant from the Controlled Substances Act. The state’s attorney general, Steve Marshall, issued the legal interpretation last week as Congress was finishing debate on the 2018 Farm Bill, which now awaits the signature of President Donald […]
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Chart: How the 2018 Farm Bill addresses top hemp industry challenges
Several major hurdles undermining hemp cultivators’ ability to run successful, profitable businesses are set to crumble once President Donald Trump signs the 2018 Farm Bill. Challenges such as finding processors or accessing banking services – problems attributable to the patchwork of state laws and regulations that have so far underpinned the industry – will be […]
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While on-site marijuana consumption stalls, CBD tasting and sampling take off
Cannabis entrepreneurs long frustrated by barriers to social consumption of their products are finding that CBD is a faster way to getting their products in front of consumers. Where marijuana entrepreneurs have been plagued by delays or outright hostility from public officials when it comes to public use, CBD manufacturers and retailers are finding new […]
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Farm Bill compromise allows nationwide hemp production for any use – including CBD
A long-awaited end to five decades of hemp prohibition has been approved by a House-Senate panel, opening the door to hemp production in all 50 states for any use – including CBD.
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New York state bans CBD foods, vape products
New York state is banning CBD vape and food manufacturing and asking 2019 hemp licensees to sign a waiver acknowledging the “inherent risk” of making a dietary supplement considered off-limits by federal health authorities. The New York State Department of Agriculture and Markets also will require hemp-derived CBD supplements to go through the same testing as […]
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CBD beverage maker eyes global expansion via $85M purchase of Utah company
A Denver company that makes CBD drinks has agreed to acquire a Utah beverage company to increase its distribution might, especially in Asia. New Age Beverages Corp. (Nasdaq: NBEV) announced that it will acquire privately held Morinda Holdings of Provo, Utah, for $85 million. Here’s what you need to know: New Age will pay $75 million […]
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