CBD Products & CBD Business News

Charlotte’s Web reports revenues buoyed by distribution deals; new CFO hired

Charlotte’s Web, a Boulder, Colorado-based CBD manufacturer, on Wednesday reported revenue of $25 million for the second quarter ended in June, up 45% from the same period a year ago. Profit for the quarter was $18.8 million, up 35% from the previous year. Meanwhile, the company also announced that Chief Financial Officer Richard Mohr is […]

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Canadian marijuana giant sees ‘largest’ CBD sales coming from US

Cronos Group, a Toronto-based marijuana company, predicts CBD customers in the United States will be the “largest contributor” to its sales over the next couple of years. But company executives cautioned investors that it’s “too early to speculate” on how big the European market for CBD will become. The comments came as Cronos released its […]

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Five not-so-obvious strategies for CBD producers to tap the multibillion-dollar spa market

The market for hemp-infused topicals has never been hotter, with big-box retailers ranging from CVS to Sephora adding CBD creams and balms – despite pushback from U.S. health authorities. Even as the national market for topicals booms, though, opportunities abound for boutique CBD manufacturers in the U.S. spa industry, where wellness executives prize craft production even […]

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Canadian cannabis producer Cronos to invest $300 million in US hemp market

Cronos Group, a Canadian vertically integrated marijuana company with international production and distribution, announced Friday it will buy four operating subsidiaries from Redwood Holding Group for $300 million. Based in Los Angeles, Redwood produces, markets and distributes hemp-derived CBD products, including skin care, bath items and gummies, throughout the United States under the Lord Jones […]

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Sol Global increases ownership stake in CBD firm HeavenlyRx

Cannabis investment company Sol Global Investments purchased additional common shares to raise its ownership in its CBD-focused wellness subsidiary HeavenlyRx to 44.53%. As part of a larger private offering, the Toronto-based international investment company announced Monday it spent an additional 23.9 million Canadian dollars ($18.1 million) on HeavenlyRx. The announcement comes just weeks after Sol […]

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Curaleaf scrubs website for medical claims following FDA warning

After federal regulators warned cannabis giant Curaleaf last week against making unsubstantiated medical claims for its CBD products, the company has taken action. The Massachusetts cannabis company removed its blog and deleted social media posts and articles on its website saying its products can be used to treat medical conditions such as cancer, Alzheimer’s disease, chronic […]

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European Medicines Agency panel OKs GW Pharma’s cannabis drug

The Committee for Medicinal Products for Human Use (CHMP) recommended approval of the British company’s cannabis-based medicine Epidiolex, said the drug’s maker, GW Pharmaceuticals. The CHMP is tasked with preparing the European Medicines Agency’s opinions on queries about the marketing of human medicines. The CHMP opinion was adopted July 25, and the final decision now […]

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‘Imperative to have mainstream experience’ in the growing CBD sector: Q&A with HeavenlyRx CEO Paul Norman

As hemp and CBD companies increasingly lure executive-level talent away from mainstream corporations, many are coming from large food companies. The Kellogg Co. is one of them. The $13 billion food giant recently saw three of its executives leave for positions in the cannabis space, including Paul Norman, a former president of Kellogg North America, […]

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Canadian CBD maker sponsors athlete research with UFC

Canadian marijuana giant Aurora Cannabis is sponsoring CBD research with the UFC to determine if the cannabinoid treatments are effective in treating pain and inflammation. The partnership marks a milestone for the cannabis industry, where individual athletes commonly strike sponsorship deals but few prominent leagues agree to research for CBD or other cannabis products. Athletes’ […]

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California CBD company buys chocolate-maker with national distribution

A California CBD company that makes infused olive oils has bought a smaller chocolate company with distribution in traditional grocers such as Whole Foods Market. Gabriella’s Kitchen bought Lulu’s Chocolates of Nevada City, California, for $1 million in stock. Margot Micallef, CEO of Gabriella’s Kitchen, told Hemp Industry Daily the acquisition positions her company for distribution […]

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