CBD Products & CBD Business News

FDA to provide update on CBD review by late summer or fall, official says

Federal health regulators say they’ll update the hemp industry on their CBD review by late summer or fall. Dr. Amy Abernethy, who leads the U.S. Food and Drug Administration’s work group on cannabinoids such as CBD, said Friday the agency is “enthusiastic about research into the therapeutic benefits of CBD products but also need to balance […]

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Investment firm increases stake in CBD company

Sol Global, a Toronto-based international cannabis investment firm, has increased its stake in a privately held CBD company. The firm announced Friday it spent 15 million Canadian dollars ($11.5 million) in HeavenlyRx. The purchase brings Sol Global to a 42% stake in HeavenlyRx. The announcement comes less than a week after Sol Global raised CA$50 […]

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CBD company ups stake in beverage brand to secure 50-state distribution

A Toronto-based hemp and CBD investment company increased its stake in a traditional soda company with an eye toward developing CBD-infused beverages with the brand. HeavenlyRx bought 15 million shares in Jones Soda Co. for $9 million and now holds 39% of the Seattle-based beverage manufacturer. The deal also gives HeavenlyRx two seats on Jones Soda’s board. Jones […]

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Demetrix raises $50 million to research synthetic cannabinoid production

California-based Demetrix secured $50 million in a Series A funding, which the company will use for research of synthetic cannabinoid production. The Emeryville company wants to use baker’s yeast to produce large volumes of cannabinoids. More than 100 of cannabinoids can be found in the cannabis plant, sometimes in trace amounts. The company did not […]

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Hemptown acquires nutraceutical maker, moves into consumer packaged goods

Hemptown Organics Corp., a vertically integrated, multistate hemp producer based in Central Point, Oregon, has acquired longtime nutraceutical manufacturer Kirkman Group for $5 million. With $6 million in existing annual revenue, Kirkman operates a 25,000-square-foot nutraceutical manufacturing facility that is Current Good Manufacturing Process (CGMP)-certified and licensed by the U.S. Food and Drug Administration, according […]

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Sol Global raises CA$50 million for CBD expansion; exec resigns

Sol Global, a Toronto-based international cannabis investment firm, said it raised 50 million Canadian dollars ($37.5 million) in debt financing. The company will use the proceeds to fund its expansion in CBD activities and operations in California, Florida and Michigan. The company also said Jonathan Gilbert resigned as president of its subsidiary, Impact Biosciences, which […]

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New York City’s official CBD ban targeting food, drinks takes effect

New York City implemented a citywide ban this week prohibiting businesses from selling food and drinks containing CBD. The ban took effect just a few days after New York state lawmakers passed a bill allowing for some CBD products but not settling a process for putting it in food. After the U.S. Food and Drug Administration […]

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Smokable hemp ban in North Carolina could be law by December

The North Carolina House Agriculture Committee approved a bill that supports a ban on smokable hemp. The House committee on Friday moved the legislation forward, including a smokable hemp ban that would take effect Dec.1. The ban, part of a bill outlining the state’s hemp program in accordance with the 2018 Farm Bill, passed the […]

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European regulators, activists join calls for CBD oversight

Europe’s booming CBD market needs better regulation and safety protocols, according to two reports out this week from both government regulators and nonprofit activists. First, the European Monitoring Centre for Drugs and Drug Addiction (EMCDDA), an agency of the European Union, said there is an “urgent need” to get a handle on the potency of CBD […]

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Survey finds 22% of consumers replace OTC, prescription drugs with CBD

Since passage of the 2018 Farm Bill, CBD has risen to the forefront of American consciousness as an alternative health and wellness supplement, and research finds that a growing number of consumers are using it to replace their prescription and over-the-counter drugs. A national January 2019 Consumer Reports survey of more than 4,000 CBD users […]

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