On May 31st, the FDA held hearings to advance their regulatory oversight of CBD. The FDA selected 120 speakers out of over 400 applicants to provide testimony. The applicants ranged from consumer products companies to industry groups to academics to litigation firms itching to sue. The former FDA commissioner acknowledged that when Congress passed the 2018 Farm Bill they expected that would pave the way for CBD to be available to consumers but believes they also preserved the FDA’s authority in this matter. Not surprisingly, testimony ranged the spectrum, from emotional testimony about the powerful benefits of CBD to concerns about poisoning. There was perhaps some middle ground in testimony advocating for more research and focusing enforcement on companies that make exaggerated and unsupported claims or sell products that are mislabeled or contain toxins. We fully support this and seeking knowledge and products that we can trust were the inspiration for founding WLM.
An FDA hearing on CBD, the nonpsychoactive substance in marijuana, sent industry shares down sharply, but not for long
Are you feeling anything yet?
Those in the mood to discuss a product’s merits or dangers can find no argument more fertile than that over marijuana, increasingly legal on a state level in the U.S. Is the psychoactive substance tetrahydrocannabinol, or THC, addictive, a gateway drug, a miracle cure, no worse than alcohol or some combination of those?
As fraught as that issue has become, the debate is even more confusing over another ingredient of the plant, cannabidiol, or CBD. While it doesn’t get users high or, according to many who have tried it, do anything at all, supporters have made all sorts of claims about its benefits for maladies such as anxiety and arthritis. The substance has even made it into dog treats.
The U.S. Food and Drug Administration convened a hearing on Friday with dozens of speakers, some pro and some con. And the verdict? A leading cannabis exchange-traded fund fell by a little over 5% between Friday’s open and Monday’s close. Then investors changed their minds and bid it up by 5%.
Perhaps a warning label is in order: “May cause confusion or indecision.”
by Spencer Jakab