The Future Of Europe's CBD Market Lies With Big Pharma And OTC Pathway
The "shakers and movers" in the European cannabidiol market in the next two to three years will be big pharma, says Irish synthetic CBD specialist Chanelle McCoy Health. With its purported health benefits, CBD will also need to go the way of OTC drugs, with medicinal claims supported by clinical trials, the firm predicts.
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The UK government is weighing new rules on permitted levels of controlled substances, such as THC, in consumer CBD products in a departure from its light touch regulatory approach to the burgeoning market up until now.
CBD products linked to a submitted, rather than validated, novel food application can now remain on the UK market after 31 March, according to new guidance from regulator the Food Standards Agency. But will this merely cause more confusion for final product manufacturers, retailers and consumers? CBD expert and Canna Consultants co-founder Stephen Oliver thinks so.
Synthetics are necessary for drugs containing cannabinoids because the active ingredient must be consistent from dose to dose. Cannabinoids extracted from hemp vary from plant to plant and more widely from crop to crop, but consistency should matter for cannabinoids used as dietary ingredients, says BioMedican president Dennis O’Neill.