CBD is already a $1B industry, and Wall Street experts predict that in just six short years that number will skyrocket to over $16B. A huge part of that could be stoked by the mainstream sale of CBD-infused products like desserts and beverages, but only if the FDA gives its blessing. Sure you can still buy pot brownies from your local mom-and-pop shop, or pick up some CBD-infused coffee, but the FDA has previously said if you hope to market, say, a tea made with CBD that will combat anxiety, said tea is subject to the same stringent approval process as anything else the FDA runs checks and balances on.
The statement reads: “There are open questions about whether some threshold level of CBD could be allowed in foods without undermining the drug approval process or diminishing commercial incentives for further clinical study of the relevant drug substance.”
In June of last year, when the FDA approved the epilepsy drug Epidiolex, the first federally approved, cannabis-based medication, the DEA had to rush to reschedule CBD. Now the FDA is weighing the cost of opening the floodgates on CBD-infused food and beverages and how that would impact the plans of drug makers who are looking to make the next CBD-based medication. The FDA will be holding a public hearing on the matter in May, so stay tuned for more developments.
You can find Commissioner Scott Gottlieb’s statement here and read more about the story here.
