Wellness Business Roundup: NutraNext Buoys Clorox Results, New Age Delays CBD Drink, More
FitLife direct-to-consumer, online sales fuel quarter; AXIM Wellness launching CBD gum; Canadian firm acquiring PA cannabis cultivator; Clorox' lifestyle division flat in latest quarter despite strong sales of NutraNext supplements; and New Age delays rolling beverage line on confusing FDA regulation messaging.
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FDA Road To Decision On Expanding CBD Uses Starts With Weighing Impact On Existing And Future Use As Drug
At public hearing, FDA officials starting with acting Commissioner Sharpless emphasized CBD is approved only as a drug and deciding on allowing its use in any other type of FDA-regulated product will be done with potential impact on drug development foremost in agency's thinking. Also apparent from questions 12-member panel of FDA officials asked was a potential regulatory pathway for clearing hemp and CBD as dietary ingredients will require resolving concerns about the substances' dose or concentration levels and establishing ingredient identity standards.
“We love that we’re in differentiated segments here, emerging segments, not single letter vitamins, but product benefits that are scientifically grounded and that start to have a really strong following among consumers,” Clorox CEO Bennor Dorer says of the firm's recent Nutranext acquisition. He explained the “rationale” for buying a business that competes in a “fragmented category” without a brand leader during Clorox' third-quarter earnings briefing.
Washington State’s Toxic-Free Cosmetics Act would ban use of any and all PFAS, matching work California started in 2020 and finished with legislation enacted last year. It also would blacklist ortho-phthalates, formaldehyde, methylene glycol and any other chemical determined by the department to release formaldehyde, among other deemed hazardous substances.