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Steve Fazia
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Steve Fazia   My Press Releases

A Word of Caution for Marketers of CBD Products!

Published on 4/4/2019
For additional information  Click Here

Everywhere you turn these days, a new CBD formulation blasts onto the scene. Companies are adding CBD products to their existing lines, convenience stores and vape shops are selling these items, and now even big retailers such as Walgreen's and CVS have entered the market. Gosh, I'm even seeing roadside signs shouting 'Get your CBD here' and providing the phone number of the purveyor. To the potential customer, their head must be spinning! It's like the Wild West out there, and marketers must constantly defend their particular variety (is mine really better than yours?). Plus, I know of at least a dozen network marketing companies which market CBD products, most of which have added CBD to existing product lines. A couple of these companies have simply jumped on the bandwagon, since they never even carried any supplements prior to this!

Many CBD manufacturers and marketers breathed a sigh on relief when the Farm Bill of 2018 passed in December. What this basically did was remove CBD from being a controlled substance, i.e. prior to the signing of this bill, the DEA considered CBD a Schedule 1 drug, in the same class as heroin! So many who were sitting on the fence have jumped into the market, thinking everything is okay. NOT SO FAST! The FDA is throwing a monkey wrench into things. Here's the agency statement on the situation:                                           

'.....that while the Farm Bill of 2018 removed hemp from the federal Controlled Substances Act, Congress explicitly preserved the FDA's current authority to regulate products containing cannabis or cannabis-derived compounds under the Federal Food, Drug, and Cosmetic Act '. The statement went on to say 'it is unlawful under the FD&C Act to market CBD or THC products as, or in, dietary supplements, regardless of whether the substances are hemp-derived'. 

The FDA will hold a hearing at the end of May. Much will be clarified about the future of hemp-derived CBD in the U.S. Here's a word of caution if you are banking on deriving an income from the sale of CBD: you may want to wait for the outcome of this hearing before plowing forward in the CBD space! You may be building a business on a house of cards.

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