The House Oversight and Accountability Committee Chair recently penned a letter to the FDA, notifying the agency that an investigation into its decision to not regulate CBD was being conducted. CBD (cannabidiol) is one of the two main compounds found in cannabis, the other being THC. Unlike THC, however, CBD doesn’t induce a high when consumed. This compound, which is derived from hemp, is also not addictive.
Representative James Comer criticized the agency’s inaction on the matter, stating in his letter that CBD was a popular product whose use had risen in the last few years.
In January 2023, the FDA determined that there wasn’t a regulatory pathway in place to pass rules to allow CBD to be marketed as a dietary supplement or food item. The agency added that congressional action was needed to develop said regulations.
This came after hemp and its derivatives, such as CBD, were legalized under the 2018 Farm Bill.
In his letter, Comer stated that it was important that the agency acknowledge its role in regulating CBD products, noting that the lack of regulations had allowed entry for potentially dangerous substances into the market. This, he argued, had increased concerns that some products could contain dangerous ingredients in the absence of regulation.
Comer also declared that appropriate regulation of products by the FDA would increase good faith manufacturers’ contributions and also prevent some products from entering the market. The chairman then requested that the agency present the following documents by May 1, 2023:
- All communications and documents on the FDA’s evaluation of the existing regulatory framework on CBD.
- All scientific reports, research and data held by the agency on the safety of CBD products for consumption.
- All communications, drafts and documents related to the Jan. 26, 2023, announcement on how a new regulatory pathway was needed to regulate CBD products.
This isn’t the first time the agency has been put on the spot over the lack of regulations for CBD.
During a committee hearing in March 2023, Representative Andy Harris told FDA Commissioner Robert Califf that the agency’s lack of action was reducing public confidence in its abilities.
All this comes after President Joseph Biden directed that the FDA carry out a scientific review on cannabis earlier this year, to be used in the evaluation of the drug’s scheduling under the Controlled Substances Act. While the agency’s recommendations will not be mandatory, it is expected that the DEA will offer guidance that aligns with the agency’s findings on the drug’s benefits and risks.
As the regulatory issues are worked through, a possible market could also emerge for the cultivation equipment commercialized by entities such as Advanced Container Technologies Inc. (OTC: ACTX).
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
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