CBD Products & CBD Business News

Charlotte’s Web posts big sales, profit gains in 2018

Boulder, Colorado-based Charlotte’s Web Holdings reported revenue for 2018 of $69.5 million, a 74% increase over 2017. Full-year profit for the manufacturer of hemp-derived CBD products increased 57% to $11.8 million. For the fourth quarter ended Dec. 31, 2018, revenue totaled $21.5 million, up 71% over the prior-year period. Fourth-quarter profit grew 33% to $3.2 […]

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Maine authorizes CBD foods after unpopular crackdown

Maine has changed course on CBD foods less than three months after health authorities ordered CBD foods off shelves. A new law gives CBD manufacturers express permission to add cannabidiol to foods in contravention of federal law, which bans the addition of CBD into the food supply. Gov. Janet Mills signed the CBD food law […]

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Exactus buys online supplement retailer, seeks greater transparency

Proving that hemp-derived CBD really is sourced from hemp remains one of the big questions around its legality – and may be a key factor in a recent acquisition. Exactus, a Virginia-based health-care company with interests in cannabidiol treatments, acquired Hemp Healthy, a supplement firm that owns an e-commerce site selling CBD tinctures, topicals and […]

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CV Sciences earnings rise, but CEO says CBD confusion limiting growth

(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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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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