Tilray CEO Irwin Simon discusses support for Biden’s cannabis reform and provides his outlook for the U.S. marijuana market on ‘The Claman Countdown.’
The Food and Drug Administration (FDA) is reportedly planning to announce a regulatory framework for products like CBD that are derived from legal cannabis in the coming months amid concerns about product quality and safety.
CBD products have proliferated in the years since the enactment of the 2018 farm bill legalized industrial hemp – a variant of the cannabis plant that lacks the intoxicating properties of versions grown for consumption as medical or recreational marijuana. That opened the door for sales of CBD products ranging from drinks and edible gummies to creams and lotions that contain no more than 0.3% THC, which is the cannabinoid chemical that can induce a high in users and is illegal at the federal level despite legalization in 21 states.
When asked for comment about the upcoming regulatory plan, a spokesperson for the FDA provided Fox Business with a statement by FDA Principal Deputy Commissioner Janet Woodcock, M.D., who is in charge of the agency’s efforts to regulate cannabis, that was also given to the Wall Street Journal: “Given what we know about the safety of CBD so far, it raises concerns for FDA about whether these existing regulatory pathways for food and dietary supplements are appropriate for this substance. FDA is currently reviewing three Citizen petitions related to this, and we plan to…
