As FDA Decides CBD Regulatory Path, Sales March On For Suppliers, Retailers
CV Sciences distributes PlusCBD Oil products to Vitamin Shoppe stores in 30 states and Puerto Rico, pushing its US distribution to more than 5,300 retail locations. Vitamin Shoppe began offering CBD products in March and has extended the sales to 390 stores.
You may also be interested in...
Toronto firm is making CBD topicals physicians use with patients and it's s ready to market products OTC as soon as it has Canada's stamp of approval. It's waiting for US regulatory landscape to settle before crossing the border. Company also has research help from Marc Feldmann, immunologist whose work led to most-used therapy for rheumatoid arthritis, other autoimmune diseases.
Large beer and beverage firms partner with hemp cultivators to compete in fledgling US CBD-infused beverage market, which is estimated to reach $1.4bn sales by 2023. Many firms are working on R&D or have completed products and are waiting for a clear regulatory pathway from FDA before launch.
Liberty Tax, which owns tax-return preparation business Liberty Tax Services and branched into capital investing in July, agrees to pay $6.50 per Vitamin Shoppe share, a 43% premium on its closing price a day earlier. Vitamin Shoppe's earnings struggles continued in Q2 as total sales fell 7.6% to $270.9m and it reported a $3.6m net loss after generating $5.3m net income a year ago.