San Francisco-based tech company Eaze launched a new online marketplace, Eaze Wellness, to ship hemp-derived CBD products to 41 states across the U.S. and the District of Columbia. CBD sales more than doubled among the company’s customers last year, Sheena Shiravi, Eaze’s director of consumer communications, told Fortune, highlighting a key business opportunity. This marks the company’s […]
Read MoreCBD
MariMed invests $30M in hemp-derived CBD producer
Massachusetts-based MariMed, a multistate cannabis operator, is entering the hemp-derived CBD business with a $30 million investment in a Kentucky company. The company, GenCanna, has contract farmers to grow hemp to its specifications as well as processing facilities to make CBD extracts, concentrates, isolates and other products. GenCanna plans to use the investment to expand […]
Read More
Sales begin for first FDA-approved CBD drug
Sales are underway for the first CBD drug approved by the U.S. Food and Drug Administration. The drug, Epidiolex, treats two rare types of epilepsy and is made from marijuana plants grown in the United Kingdom. The maker of the medication, GW Pharmaceuticals, has said the tincture would cost about $32,500 a year. U.S. insurance […]
Read More
Academia joins CBD research boom, offering new market opportunities
Lack of significant research on the effect of cannabinoids has long been a bane to the CBD and hemp industries. But in the wake of the U.S. Drug Enforcement Administration’s decision to reschedule some cannabis-derived products, researchers are looking for ways to open and capitalize on new markets and uses. Two Stanford University researchers,Jonathan Rothbard […]
Read More
Canadian cannabis company adds Polish hemp grower to European portfolio
A Canadian cannabis company has bought a Polish hemp firm to expand CBD production in Europe. ICC International Cannabis Corp. announced Tuesday that it has acquired Polannabis Holdings, which includes a company that grows 850 acres of hemp and has licenses to extract CBD. ICC is paying 2.5 million Canadian dollars ($1.9 million) and 26.5 […]
Read More
When cannabis isn’t cannabis – and why hemp may suffer for it
(This is an abridged version of a column that appears in the October issue of Marijuana Business Magazine.) How’s this for irony? The hemp industry’s rush to distance itself from marijuana has gone so far that hemp products can’t be sold in the world’s largest cannabis economy. The development in California is a bitter lesson in […]
Read More
RI allows medical marijuana to treat autism – after trying FDA-approved CBD
A Rhode Island decision to expand medical marijuana access has a worrying caveat for many in the CBD industry: Patients must first try an FDA-approved version of the drug. That classification by the Food and Drug Administration is currently limited to Epidiolex, an epilepsy treatment made by United Kingdom-based pharmaceutical manufacturer GW Pharmaceuticals. Rhode Island’s health department […]
Read More
Chart: Opportunity in CBD-only stores limited, but strong growth expected for other channels
As state laws around cannabidiol continue to change, stand-alone CBD stores may become a relic. According to estimates from Hemp Industry Daily in the 2018 Hemp & CBD Industry Factbook, CBD sales in the U.S. are expected to exceed $1 billion by 2020. More than half (55%) of retail respondents to a survey for the Factbook described their stores are […]
Read More
Canadian cannabis company starts US hemp firm, citing looser regulations
Noting hemp’s relaxed oversight compared to marijuana, a Canadian cannabis company has launched a new hemp company and signed a $500,000 CBD deal with a Kentucky hemp producer. Ascent Industries announced the creation of Thirty Eight Hemp Co. to produce CBD products for sale in the United States. Vancouver, British Columbia-based Ascent also inked a […]
Read More
Walmart Canada ‘fact-finding’ on potential for CBD product sales
The world’s largest retailer, Walmart, is considering selling CBD products in Canada, a development that comes just days before recreational marijuana markets open in the country. But Walmart says it isn’t ready to start selling cannabidiol just yet. “As we would for any new industry, Walmart Canada has done some preliminary fact-finding on this issue,” […]
Read More
CBD manufacturer Mile High Labs closes $35 million Series A funding round
Loveland, Colorado-based Mile High Labs – a manufacturer of CBD crude oil, distillate and isolate – closed a $35 million Series A funding round as it works to expand its operations. The raise was led by institutional investors from the United States and Europe, as well as family offices and a venture capital fund. The company […]
Read More
How marijuana company executives can adapt to surging CBD sales
CBD and THC coexist in the cannabis plant. But can they coexist in the cannabis market? They can if they take a measured approach to the market.
Read More