Hemp imports were cited as a main driver for Congress voting in 2014 to authorize limited experimentation with the crop after decades of head-scratching policies allowing hemp to be bought and sold in the United States — as long as it was grown somewhere else. But hemp exports have grown dramatically ever since. Hemp imports… Continue reading Chart: US hemp legalization hasn’t cooled imports
Category: CBD Products & CBD Business News
New USDA confirms looming nationwide hemp rules
The nationwide hemp rules are taking effect March 22 as planned, with no additional delay or review because of the changed administration at the U.S. Department of Agriculture. The USDA gave notice Monday that the rules have been reviewed and are cleared to take effect as planned. The USDA was giving the hemp plan a… Continue reading New USDA confirms looming nationwide hemp rules
3 strategies to combat smokable-hemp bans
(Editor’s note: This column is part of a recurring series of commentaries from professionals connected to the hemp industry. Andrew M. Rosner and Kaelan Castetter are vice presidents of the New York State Cannabis Growers and Processors Association.) Government officials nationwide are talking about banning the sale of hemp flower in the name of public… Continue reading 3 strategies to combat smokable-hemp bans
CBD giant Charlotte’s Web positions to enter THC market
Hemp-derived CBD giant Charlotte’s Web Holdings is positioning itself to enter THC and marijuana markets. The Boulder, Colorado, company says it has signed a five-year, $8 million purchase agreement option with a marijuana company started by its founders, Stanley Brothers USA Holdings Inc. The deal allows Charlotte’s Web to take over the marijuana business after… Continue reading CBD giant Charlotte’s Web positions to enter THC market
Sleep and stress worries create opportunities for CBD and marijuana brands
(Editor’s note: This story is part of a recurring series of commentaries from professionals connected to the hemp industry. Jackie Berg is co-founder of CBD Marketing Hub, a digital-to-door agency focused on CBD and cannabis marketing.) Sleep is valued commodity and something many Americans are increasingly bereft of. Many health experts see sleep issues as… Continue reading Sleep and stress worries create opportunities for CBD and marijuana brands
Choosing the best location for your retail CBD business
(A version of this story appears in the February issue of Marijuana Business Magazine.) From mom-and-pop shops to corporate chains, everyone in the retail business knows that a carefully chosen location is key to success. The cannabis industry is no exception. Although regulatory requirements, license availability and market demand will vary from place to place,… Continue reading Choosing the best location for your retail CBD business
Lucky Strike’s parent company now selling CBD vapes
British American Tobacco is selling flavored CBD vapes in the United Kingdom as it eyes new products beyond tobacco and nicotine. But the parent company of Lucky Strike says it is not ready to enter the THC market yet. The company’s Chief Marketing Officer, Kingsley Wheaton, told CNBC this week that CBD is an “exciting… Continue reading Lucky Strike’s parent company now selling CBD vapes
Judge: CBD company did not mislead investors
U.S. District Court for the Eastern District of New York Crediting the CBD company’s forthrightness, a federal judge in New York federal judge has dismissed a lawsuit against Massachusetts-based Curaleaf from investors who argued the company misled them about legality of its CBD products. The investors sued when Curaleaf’s share price fell in 2019 after… Continue reading Judge: CBD company did not mislead investors
NFL requesting research on CBD for pain management
The National Football League and its players’ union have requested industry research on CBD and other cannabinoids for pain management. The NFL says it is looking for information about “alternatives to opioids in routine pain management.” The request mentions CBD but is open to research on other cannabinoids. The request issued Wednesday also mentions research… Continue reading NFL requesting research on CBD for pain management
Canadian hemp, marijuana producer Tilray reports $271 million loss for year
Canadian hemp and marijuana producer Tilray cut its annual loss to $271 million for 2020 — an improvement from the Nanaimo, British Columbia company’s $321 million loss in 2019, according to the full-year and fourth-quarter results released Wednesday. Tilray, which is on the verge of being merged with Canadian peer Aphria, lost only $3 million… Continue reading Canadian hemp, marijuana producer Tilray reports $271 million loss for year
Elixinol executive joins US Hemp Authority board
An executive from international CBD brand Elixinol has been appointed to the board of directors at the U.S. Hemp Authority — one of the industry’s self-regulatory bodies. “From the start, Elixinol has gone above and beyond when it comes to product efficacy and transparency,” Elixinol CEO for the Americas Tom Siciliano said about his appointment.… Continue reading Elixinol executive joins US Hemp Authority board
CBD exec’s blank-check effort nets $115 million
A blank-check investment company led by the co-CEO of North Carolina CBD maker cbdMD has raised $115 million to invest in consumer goods. The new blank-check company, Adara, did not mention cannabinoid products in its November filing with the U.S. Securities and Exchange Commission. Instead, the company says it plans to invest in “companies in… Continue reading CBD exec’s blank-check effort nets $115 million
How to head off partnership disputes before they happen
(This story appears in the February issue of Marijuana Business Magazine.) Partnership disputes — whether between business partners or owners and investors — continue to be an ugly feature of the marijuana and hemp industries. Such conflicts can be costly and time-consuming; plus, they can sink a cannabis company. But there are steps companies can… Continue reading How to head off partnership disputes before they happen
Texas smoke shop owner accused of selling MJ says products were legal hemp
A coastal Texas smoke-shop owner facing criminal marijuana charges after a police raid Tuesday says the cannabis flower, vapes, gummies and other products taken were legal hemp, not illegal marijuana. Faded Smoke Shop owner Alexandra Degollado faces charges of manufacture or delivery of a controlled substance, the Victoria Advocate reported. One of her store employees… Continue reading Texas smoke shop owner accused of selling MJ says products were legal hemp
Parent company of embattled CBD firm files for bankruptcy
A land-development company that includes an Arizona CBD firm battling investor fraud claims has filed for federal bankruptcy protection. Integrated AG is a private equity investor that redeveloped farmland in the western U.S. Integrated AG is a private equity investor that redeveloped farmland in the western U.S. Integrated AG, parent company of Integrated CBD, filed… Continue reading Parent company of embattled CBD firm files for bankruptcy
Hemp operators interested in federal checkoff program, survey shows
A clear majority of hemp farmers and processors support establishing a federal program to promote the crop, according to a survey by two industry groups, but not everyone supports paying for it. The National Industrial Hemp Council and the Hemp Industries Association polled their members late last year on the question of having a checkoff… Continue reading Hemp operators interested in federal checkoff program, survey shows
Opinion: Hope is not a strategy, so stop tolling
(Editor’s note: This story is part of a recurring series of commentaries from professionals connected to the hemp industry. Julie Lerner is CEO of PanXchange, a commodity trading platform and benchmark price provider.) Basing the multibillion-dollar, pie-in-the-sky forecasts for the U.S. addressable market for CBD on retail shelf prices disturbs me. It’s as illogical as… Continue reading Opinion: Hope is not a strategy, so stop tolling
Broad-spectrum extract tea maker accused of false THC claim
A Michigan company making broad-spectrum hemp teas is battling claims that its products falsely promised 0.0% THC content. Total Life Changes LLC of Fair Haven, Michigan, has been sued by a New Jersey man who says the company’s instant Iaso Tea is “intentionally misleading the general public” by carrying a label that says it “contains… Continue reading Broad-spectrum extract tea maker accused of false THC claim
CBD brand hires former FDA executive to oversee regulatory initiatives
North Carolina CBD maker cbdMD has hired Sibyl Swift, a former U.S. Food and Drug Administration official as a consultant to lead the company’s regulatory efforts and prepare products for certifications. Swift served in various roles at the FDA from 2014 to 2020, most notably as the associate director for research and strategy in the… Continue reading CBD brand hires former FDA executive to oversee regulatory initiatives
Bipartisan legislation directs Congress to regulate hemp-CBD as a dietary supplement
A bipartisan bill that was introduced in the U.S. House of Representatives Thursday could push legal CBD through Congress, providing consumer access and protection while clearing the supply chain bottleneck. The Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2021 is sponsored by Representatives Kurt Schrader, a Democrat from Oregon, and Morgan… Continue reading Bipartisan legislation directs Congress to regulate hemp-CBD as a dietary supplement
CBD maker GW Pharma agrees to $7.2 billion acquisition by Ireland’s Jazz Pharmaceuticals
(A version of this story originally appeared at Marijuana Business Daily and will be updated.) An Irish pharmaceutical firm, Jazz Pharmaceuticals, has agreed to purchase United Kingdom-based GW Pharmaceuticals, one of the largest medical cannabinoid companies in the world, for $7.2 billion, the drug companies said Wednesday. The proposed cash-and-stock deal would be the largest… Continue reading CBD maker GW Pharma agrees to $7.2 billion acquisition by Ireland’s Jazz Pharmaceuticals
EU market regulator updates cosmetics guidelines to add CBD as legal ingredient
A key market regulator for trade in the European Union has updated its guidelines to add plant-derived CBD as a legal ingredient in cosmetics. The change comes after the European Industrial Hemp Association pointed out that the European Court of Justice recently ruled that CBD should not be classified as a drug and can be… Continue reading EU market regulator updates cosmetics guidelines to add CBD as legal ingredient
FTC officials weigh in on CBD crackdown on false ads, urge caution
Federal regulators that go after companies for false advertising recently weighed on sanctions against CBD companies, with one urging the agency to focus on opioid manufacturers and another warning against a chilling effect on legitimate cannabis research. Rohit Chopra and Christine S. Wilson, two of five members on the Federal Trade Commission, recently published statements… Continue reading FTC officials weigh in on CBD crackdown on false ads, urge caution
DEA asks judge to toss lawsuit from hemp operators challenging extraction rule
The U.S. Drug Enforcement Administration is asking a federal judge to dismiss a lawsuit from the Hemp Industries Association over an extraction rule that meany fear will wrongly criminalize temporary byproducts of the plant during production. The DEA says in a filing Tuesday that HIA is challenging “a hypothetical regulation or policy concerning manufacturing byproduct”… Continue reading DEA asks judge to toss lawsuit from hemp operators challenging extraction rule
CBD experts detail top trends to stay ahead of in 2021
(Editor’s note: This story is part of a recurring series of commentaries from professionals connected to the hemp industry. Larry and Jackie Berg are co-founders of CBD Marketing Hub, a digital-to-door agency focused on CBD and cannabis marketing.) Seismic advancements have dominated the CBD market over the past decade with some of the industry’s largest brands seeing… Continue reading CBD experts detail top trends to stay ahead of in 2021
New cannabis beverage council drawing inspiration from alcohol prohibition to boost segment
The American Trade Association for Cannabis and Hemp, an industry trade and advocacy organization, has formed a new Cannabis Beverage Council to connect cannabis industry and beverage industry leaders focused on expanding the cannabis beverage segment. Hemp-derived CBD beverages will be a growing segment among consumers, accounting for up to $1.3 billion in sales by… Continue reading New cannabis beverage council drawing inspiration from alcohol prohibition to boost segment
Swiss CBD company accuses Juul of stealing patent
A Swiss CBD company is accusing e-cigarette maker Juul of infringing on one of its patents. SwissX alleges in a lawsuit that Juul pods copy a nicotine vapor delivery system that SwissX bought the rights to last year, according to Law 360. The lawsuit was filed in Delaware federal court. SwissX, which is owned by… Continue reading Swiss CBD company accuses Juul of stealing patent
Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble
Hemp businesses walk a fine line when describing the health benefits of their products: Make a claim without evidence or wording that misleads consumers, and soon the legal fees will pile up. The U.S. Food and Drug Administration has guidelines for acceptable claims to make on labels for dietary supplements – the closest fit for… Continue reading Want to promote hemp’s health benefits? Here’s how to do it without getting in trouble
L’Oreal, Neutrogena alumna tapped to lead California CBD maker Papa & Barkley
A cosmetics executive has been tapped to take over California CBD manufacturer Papa & Barkley. Evelyn Wang replaces Adam Grossman as CEO. Grossman will lead the company’s board of directors. Wang comes from Milani Cosmetics. She was formerly an assistant vice president for L’Oreal Paris, and before that was Product Director for Neutrogena Cosmetics, part… Continue reading L’Oreal, Neutrogena alumna tapped to lead California CBD maker Papa & Barkley
FDA withdraws pending CBD enforcement proposal
U.S. drug regulators have withdrawn their proposal to regulate over-the-counter CBD, handing the industry another setback after years of delay from the Food and Drug Administration. The proposal in question appears to be on pause because of the changing administration. The delay was widely anticipated but still frustrating for CBD operators awaiting the rules. The… Continue reading FDA withdraws pending CBD enforcement proposal