Arcadia Biosciences Bites Into Cannabinoid Market, Buys Firms From Rapper Jay-Z’s Company
Food ingredient firm Arcadia Biosciences acquired CBD supplements and coconut waters from rapper Jay-Z’s cannabis market holding company and is thinking about opportunities to expand into additional cannabinoid segments, including beverages.
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Royal DSM and Colorado’s Mile High Labs partner to provide companies in supplement, food and beverage sectors with ingredients to develop formulations with CBD and other cannabinoids. They initially are targeting the US and look to enter Canada, South America, Europe and Australia.
FDA is testing cannabidiol and other cannabinoids for whether labeled amounts match what’s in a product, says CFSAN Deputy Director Doug Stearn. The work is supported with $5m provided in the agency’s FY21 appropriation.
Senate bill introduced on 19 May, unlike a House bill introduced in February, would direct FDA to allow using hemp-derived cannabinoids in food products as well as supplements. However, neither bill includes language on setting a safe daily level that some industry stakeholders argue is needed.