In 2018, the FDA approved CBD for use as an ingredient in Epidiolex, which is a prescription drug indicated for the treatment of severe epilepsy. Participants in the hemp industry have states that drug approval is what’s keeping the FDA from regulating CBD as a dietary ingredient or supplement.
Minor cannabinoids may not face the same issues as CBD because they haven’t been approved as prescription medications. Many hope the FDA’s approach to major and minor cannabinoids will shift, depending on the laws that make marijuana legal on a federal scale.
A few manufacturers and leaders involved in the hemp industry were asked for their thoughts on how minor cannabinoids such as CBC, CBN and CBG could be impacted by the Food and Drug Administration’s passivity on CBD and what would happen if marijuana was legalized federally.
Hemp Industries Association president Mike Lewis stated that the FDA’s refusals were based on the fact that CBD was an active ingredient in Epidiolex, which meant that many hemp cannabinoids shouldn’t be subject to the reclusion provision of the Federal Food, Drug and Cosmetic’s Act. Lewis added that while the absence of research data would continue being a hurdle for hemp cannabinoids, definite regulations would bring in major players to the hemp industry, which would in turn bring in abundant resources.
Cofounder of Kazmira Priyanka Sharma stated that lack of action from the FDA wouldn’t affect its approach to other cannabinoids because the agency would probably examine applications on a case-by-case basis. Priyanka notes that hemp entrepreneurs should understand how other cannabinoids are produced and purified and how they could be used safely before they approached the FDA with them.
Charlotte Web senior vice president of government affairs and corporate communications Kelly Shea said that the federal legalization of the marijuana industry would face a similar situation as did THC, adding that this is what made HR 841 a good measure for the hemp industry.
HR 841 is the hemp and hemp-derived CBD market stabilization and consumer protection act whose focus is to make the use of CBD and other ingredients derived from hemp as dietary ingredients legal under the Federal Food, Drug and Cosmetic Act.
With regard to the impact of federal legalization of marijuana on FDA’s approach to CBD, Irwin Naturals founder Klee Irwin noted that federal legalization would destigmatize the plant and showcase it in a new light to regulators and the general public, which would facilitate more discussions on applying current regulations to its uses.
It would be interesting to see how any federal marijuana legalization would impact the strategy and operations of CBD and THC companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF), which are already operating in several states that have legal marijuana markets.
NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF
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