The FDA decision will affect the entire industry moving forward
Change is coming for a small but blooming corner of the marijuana industry.
A compound in marijuana that’s been linked to a range of potential health benefits — but doesn’t cause a high — is increasingly being eyed for use in salves, oils, balms, and beverages. It’s also the active ingredient in a new drug that’s on the cusp of federal approval.
Cannabidiol, or CBD, is estimated to make up a roughly $1 billion industry. If and when the Food and Drug Administration approves the new CBD-based drug— a decision currently slated for the end of June— it will turn the compound into one that can be legally prescribed by a doctor.
That approval will also jump-start demand for products that have not been federally reviewed, opening up a huge opportunity for retailers and manufacturers to either work alongside the new regulations or take advantage of the legal grey area in which they’re currently operating.
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