CBD Product Sales Help Drive Tilray In 'Early Days' Of Global Cannabis Market
"We're in the first inning of the development of this global industry," says Tilray CEO Brendan Kennedy. Hemp and cannabis product firms' opportunities with retailers should grow beyond number of stores selling products to also offering cannabinoids in addition to CBD.
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CBD claim warning comes as FDA reviews more than 4,200 comments on its initiative to determine whether to open regulatory paths for firms to market non-drug products containing hemp- or cannabis-derived ingredients. From Deputy Commissioner Abernethy statement included in announcement about warning, it appears agency is getting message industry trade groups stated in comments that enforcement over non-drug products containing CBD cannot wait.
Anheuser-Busch's parent firm partners with Canadian firm Tilray, which makes and distributes cannabis supplements as well as dried cannabis, to research non-alcohol beverages containing tetrahydrocannabinol and cannabidiol.Similar moves by other firms entering the cannabis product market and mounting investments by US firms already in the space follow Congress' passage of the latest farm bill with a provision that substantially changes federal regulations for production and marketing of hemp.
Sandoz Canada’s proposed entry into the medical cannabis space through its recent strategic alliance agreement with local producer Tilray broadly “complements its portfolio”, and “demonstrates again that the patient is at the heart of our work”, the Novartis affiliate has told Generics bulletin.