Hemp-derived CBD energy drinks manufactured by the UK brand Trip have been stocked in Queen Elizabeth II’s Windsor Farm Shop, UK tabloid The Sun reported. According to an unnamed source in the report, the drinks have been popular with patrons of the shop, which was founded in 2001 after the Duke of Edinburgh proposed selling… Continue reading Report: CBD energy drinks sell quickly in Queen Elizabeth’s farm shop
Category: CBD Products & CBD Business News
Brexit creates CBD regulatory mess for UK market
If the CBD market is any indication of how other sectors will be affected by the United Kingdom’s divorce from the European Union, buckle your seatbelts. Supply-chain slowdowns and lockdowns due to the Covid-19 pandemic have already made doing business in the UK a challenge. Now, with the confusion surrounding the final Brexit trade deal,… Continue reading Brexit creates CBD regulatory mess for UK market
Hemp provides American Indian tribes with new economic opportunities, commercial partnerships
(This is the second part of a two-part story from Hemp Industry Daily examining the developing hemp markets on tribal lands in the United States. Read the first installment here. For more detail about tribes growing hemp, check out Hemp Industry Daily’s Hemp & CBD Factbook, available for purchase here.) Hemp and CBD companies have been working with… Continue reading Hemp provides American Indian tribes with new economic opportunities, commercial partnerships
Phytol cited as potentially dangerous cannabis vape ingredient
This story first appreared at Marijuana Business Daily. As cannabis vaping pens grew in popularity in late 2019, concerns grew about the safety of the products, spurred by reports of <a href=”https://mjbizdaily.com/vaping-crisis/”>illness, and even deaths</a>, of tobacco vape users. Vape manufacturers rushed to assure regulators and consumers their products were safe, despite having no clear… Continue reading Phytol cited as potentially dangerous cannabis vape ingredient
Restrictions on shipment of vaping products could impact hemp industry
Companies selling vaping products online, including those with CBD cartridges, will be forced to find an alternative to the U.S. Postal Service to ship their products and will face additional regulations come this summer. That’s because in late December, when Congress approved another appropriations bill to keep the government running, lawmakers also passed the “Preventing… Continue reading Restrictions on shipment of vaping products could impact hemp industry
Circle K wants to block hemp trademark that resembles its own
Circle K Stores Inc. wants to block a California hemp and marijuana holding company from using a design mark with “K” inside a circle. In a filing first reported by Law 360, the convenience-store chain is asking the U.S. Trademark Trial and Appeal Board to oppose a registration application from Medical Marijuana Inc. of Poway,… Continue reading Circle K wants to block hemp trademark that resembles its own
Clint Eastwood files third suit against CBD companies, saying they’re falsely claiming endorsement
Clint Eastwood has filed a third lawsuit alleging CBD companies are falsely claiming he’s endorsing their products. The legal action is the second the legendary actor has filed against Los Angeles-based Norok Innovation Inc. and its CEO Eric Popowicz but includes a different set of defendants, according to Law 360, which first reported the case.… Continue reading Clint Eastwood files third suit against CBD companies, saying they’re falsely claiming endorsement
2021: The year of positive CBD policy changes
Jonathan Havens (Editor’s note: This story is part of a recurring series of commentaries from professionals connected to the hemp industry. Havens co-chairs the Cannabis Law and Food, Beverage and Agribusiness Practices at Saul Ewing Arnstein & Lehr law firm in Washington DC.) The hemp industry has been waiting with bated breath for the release… Continue reading 2021: The year of positive CBD policy changes
Hemp licenses up, but acreage down in 2020 – yet industry is optimistic for growth
For all the growth that the hemp and CBD industry has seen as a nascent industry in recent years, last year farmers took a step back and devoted fewer resources to the crop – the enthusiasm of previous years tempered by oversupply, supply-chain issues and a lack of infrastructure. Licensed hemp acreage decreased in 2020… Continue reading Hemp licenses up, but acreage down in 2020 – yet industry is optimistic for growth
GW Pharma expects fiscal 2020 sales to reach $526 million
This story first appeared at Marijuana Business Daily International. United Kingdom-based GW Pharmaceuticals expects to report annual sales of approximately $526 million for the year ended Dec. 31, 2020, it said in a preview of its fourth quarter and full-year results. Fourth-quarter net sales will be approximately $148 million, based on preliminary unaudited financial information,… Continue reading GW Pharma expects fiscal 2020 sales to reach $526 million
Molson Coors, HEXO launch CBD drinks in Colorado
Molson Coors Beverage Co. says it has launched CBD drinks in Colorado through TRUSS CBD USA, its joint venture with HEXO Corp. The beverage line will be available in three flavors – Grapefruit Tarragon, Strawberry Hibiscus and Blueberry Lavender under the name, “Verywell,” Molson Coors and HEXO said Wednesday. The companies first partnered in 2018… Continue reading Molson Coors, HEXO launch CBD drinks in Colorado
New industry group in Spain aims to change government’s flower opposition
Daniel Fernandez is hoping for a hemp renaissance in Spain this year with the launch of a new Spanish industry association. But first, the Galicia native says federal authorities need to be educated on the economic possibilities of the crop so that Spain can tap underlying potential for collaboration on hemp projects with Portugal, Eastern… Continue reading New industry group in Spain aims to change government’s flower opposition
FDA says it seeks ‘real world data’ to fill in CBD research gaps in ‘end of administration’ update
Federal food and drug officials said Friday that they plan to fill in current CBD research gaps with “real world data” — but industry advocates are frustrated that regulators haven’t done enough to clear up the rules, which has caused supply-chain bottlenecks while leaving consumers to navigate an increasing field of unregulated products. An update… Continue reading FDA says it seeks ‘real world data’ to fill in CBD research gaps in ‘end of administration’ update
Venture capital firm Canopy Rivers sells 49% stake in Italian processor to RAMM Pharma
RAMM Pharma, a cannabis-based pharmaceutical company with products in several Latin American countries, has bought a 49% stake in the Sicilian CBD processing company Canapar. Based in Toronto, RAMM purchased the shares from the cannabis venture-capital firm Canopy Rivers. Under the agreement, RAMM paid $7 million cash to Canopy Rivers to buy a little more… Continue reading Venture capital firm Canopy Rivers sells 49% stake in Italian processor to RAMM Pharma
Denmark medical cannabis sales post a positive quarter thanks to Epidiolex
A longer version of this story appears at Marijuana Business Daily International. Sales of medical marijuana in Denmark posted healthy gains in the third quarter of 2020, coinciding with the launch of GW Pharmaceuticals’ CBD drug Epidiolex. Overall sales of all medial cannabis products grew from about 13 million Danish Krones ($2 million) in the… Continue reading Denmark medical cannabis sales post a positive quarter thanks to Epidiolex
Landing a Buyer: Executives who have closed M&A deals reveal what makes them commit
This story appears in the January issue of Marijuana Business Magazine. Acquisitions remain a key strategy for companies looking to enter or expand their reach within the cannabis industry, but sellers must be ready to seize such opportunities. Owners who would like to exit the hemp space or join larger conglomerates should be ready to: Decide whether to engage a broker. Ensure their financial information is ready for close… Continue reading Landing a Buyer: Executives who have closed M&A deals reveal what makes them commit
Bankrupt GenCanna drops suit against MedTerra, calls CBD company ‘long-term partner’
GenCanna, a Kentucky hemp and CBD company that filed for Chapter 11 bankruptcy in February, has dropped a suit against CBD company Medterra for unpaid invoices worth $4.5 million. GenCanna, now known as OGGUSA Inc., had sued Medterra last month, alleging that the latter failed to pay for shipments of CBD extracts and other products… Continue reading Bankrupt GenCanna drops suit against MedTerra, calls CBD company ‘long-term partner’
Cannabis firm Canopy Growth sues GW Pharma, claiming patent infringement
This story originally appeared at Marijuana Business Daily. Canadian cannabis producer Canopy Growth Corp. is suing UK-based GW Pharmaceuticals in U.S. federal court, alleging that GW is knowingly infringing upon Canopy’s intellectual property. GW used a Canopy-patented method to extract the CBD that’s the active ingredient in its Epidiolex medication, according to a complaint filed… Continue reading Cannabis firm Canopy Growth sues GW Pharma, claiming patent infringement
New Michigan law lets veterinarians discuss CBD options with pet owners
Michigan’s governor has signed legislation to allow veterinarians to talk with pet owner about giving cannabis to their animals for therapeutic use. Michigan lawmakers approved the proposal in December and lets veterinarians “consult” with pet owners about the use of either marijuana or hemp products for their pets, the Oakland Press reported Friday. Sales for… Continue reading New Michigan law lets veterinarians discuss CBD options with pet owners
Charlotte’s Web says another labeling lawsuit should wait for FDA
Charlotte’s Web Holdings says that labeling lawsuits against CBD makers must wait while federal regulators consider how to regulate the hemp extract. The company made the argument last week in a federal court in California, where it is asking a judge to follow the direction of other federal judges and dismiss CBD labeling suits as… Continue reading Charlotte’s Web says another labeling lawsuit should wait for FDA
21 predictions for 2021: Insiders handicap what’s ahead for the hemp sector
(Click on the orange arrows to advance the slideshow.) Who could have predicted what 2020 would bring to the hemp industry? No one of course. But now thought leaders in the industry are looking forward with the hopes that 2021 is a bit more predictable. That’s why we asked 21 hemp insiders to share their… Continue reading 21 predictions for 2021: Insiders handicap what’s ahead for the hemp sector
EU drug agency flags CBD market issues in report on low-THC cannabis products
The European Union’s drug agency has signaled that it is mulling the legal and commercial status of CBD and cannabis-based products in Europe in a new report. The Lisbon-based European Monitoring Centre for Drugs and Drug Addiction published the report on Monday, detailing the results of a study that kicked off in 2018 and aimed… Continue reading EU drug agency flags CBD market issues in report on low-THC cannabis products