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 […]Read More
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 […]Read More
New Mexico authorities have finalized hemp rules in time for farmers to produce the state’s first legal harvest in 2019. The regulations proposed by the New Mexico Department of Agriculture were approved late last week. New Mexico will set different hemp fees for outdoor grows versus indoor or greenhouse grows. Prospective hemp producers will have […]Read More
Iowa’s first licensed medical cannabis producer is walking a fine line as his state opens CBD sales Saturday. On one hand, Iowa has gone to great lengths to say that it will allow only cannabidiol products, not THC goods. On the other hand, MedPharm Iowa is growing cannabis that federal law would consider marijuana, not […]Read More
CBD product sales boosted Charlotte’s Web Holdings’ revenues in the third quarter, while CBD drugmaker GW Pharmaceuticals saw its losses widen on lagging sales in its fiscal fourth quarter and full year. Charlotte’s Web (CSE: CWEB) reported revenue grew 57% to $17.7 million compared with last year’s $11.3 million during the same quarter. Year-to-date revenue […]Read More
A tobacco-shop owner appealing his drug conviction said the products he sold were perfectly legal, but prosecutors want North Dakota’s highest court to leave that question to a jury. The North Dakota Supreme Court heard arguments this week in the case of Falesteni A. Abu Hamda, who was charged in 2017 with seven drug crimes after […]Read More
An Oregon CBD beverage maker has sold a partial ownership stake for $1.6 million to expand production and distribution. Ablis of Bend, Oregon, makes nonalcoholic beverages that contain 25 milligrams of CBD. The products are distributed in health and wellness retailers in 10 states. Acquired Sales Corp. of Lake Forest, Illinois, is spending $1.6 million […]Read More
Utah will require CBD products to carry labels certifying they were produced legally, a move to eliminate synthetic products and treatments that contain too much THC. The new labeling requirement takes effect in January, Salt Lake City TV station KUTV reported. The state joins Indiana and Oregon, which have previously implemented similar label requirements. The Utah Department […]Read More
A CBD manufacturer in Vermont is changing its name and plans to double its hemp acreage to 100 acres next year after selling a $7 million stake to a North Carolina venture capital firm. Hardwick, Vermont-based Green Mountain CBD will change its name to SunSoil CBD in 2019, VTDigger reported. The company sold a minority […]Read More
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 More
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 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
Laura Drotleff Interviews Dr. Jonathan Vaught, CEO & Founder of Front Range BiosciencesHemp Industry Daily reporter, Laura Drotleff, interviews Dr. Jonathan Vaught, CEO & Founder of Front Range Biosciences.
Monica Raymunt Interviews Giovanni Isoldi, CTO at Materia Medica ProcessingHemp Industry Daily international reporter, Monica Raymunt, interviews Giovanni Isoldi, CTO at Materia Medica Processing.
Starting a CBD Business During a Time of UncertaintyThe economy has seen its fair share of up’s and down’s, but the CBD industry, still in infancy, has been a wild ride. The CBD industry has been the mecca for business entrepreneurs and start-ups, but what happens when economic or environmental circumstances out of your control strike? Hemp Industry Daily reporter Ivan Moreno, speaks with Jennifer Culpepper, Founder and Principal at Brand Joint and Co-founder at I+I Botanicals, and Christopher Gavigan, Founder and CEO at Prima, to discuss their experience during COVID-19.