Connect with us

CBD Industry

How Cannabis Compound CBD is Set to Become the New Cash Cow of Marijuana’s Budding Industry

Times of CBD

Published

on

How Cannabis Compound CBD is Set to Become the New Cash Cow of Marijuana's Budding Industry

The Small Cannabidiol (CBD) Industry is Set for Big Changes

The current state of the marijuana industry is small and underdeveloped. However, there may be some big changes underway, especially in light of new information that recently appeared in several medical journals. According to recent studies, there are several compounds in marijuana that may promote a range of likely health benefits. One of those compounds is also poised to receive federal approval through the release of a new drug.

It is estimated that the cannabidiol industry is almost at the $1 billion-dollar mark. However, if and when the new drug receives federal approval, that figure may balloon. The Food and Drug Administration is scheduled to provide its opinion by the end of June. If it does receive approval, then medical professionals may be able to legally prescribe CBD as a potential solution for addressing several health issues. In addition to providing men and women with a new option for their health needs, the drug may also lead to what Barbara Carrenno, the Food and Drug Administration’s Drug Enforcement Officer, describes as a “sea of change” in the existing market, which mainly includes cheap alternatives that are untested and potentially risky.

About The New Drug: Epidiolex

The new drug is called Epidiolex and its formulation and effects are based on research and data that has been acquired and collected since 2018. The formula is a CBD-based syrup that may be able to help those with childhood epilepsy, which often features symptoms such as seizures. According to John Mendelson, a panel member and senior scientist at the Friends Research Institute mentioned at a public-approval meeting that, “[t]his is clearly a breakthrough drug for an awful disease.” A neurologist also commented that he’d “personally be very surprised if this drug was not approved.”

If the drug does receive approval, then it may be likely that manufacturers will need to register with the FDA, which could lead to significant changes in the industry.

Current Unregulated Products

The current state of the industry is that there are many products that are in “legal limbo” because they are unregulated. The two main sources of CBD products include marijuana and hemp. The former is only legal in 28 states, including Washington D.C., while the latter’s legality is more uncertain. Many manufacturers of the latter category often explain that their products are legal in all 50 states because they are derived from hemp.

Aside from the legal uncertainty, despite the hemp industry’s claims, is that many of the products are not regulated, and as a result, they may vary greatly in terms of content, safety, and price. The release of the new drug could significantly change the industry and its current lack of regulation.

The TimesofCBD.com team is a highly-touted and heavily-talented group who prides themselves on being discipline, diligent and dedicated in researching with an attention to detail for providing crystal clear clarity. As a whole, the editorial staff intends to uphold a promise in delivering daily cannabis news, CBD Oil hemp supplement reviews and friendly marijuana health guides.

Join Us On Facebook

Trending CBD News

TimesofCBD always fact checks sources and aims for the best accuracy in the reporting curated cannabis content consisting of the latest CBD news, user guides and product health research. Quality is the priority, but we are not eligible to be liable as everything here is for educational, informational purposes only. Always seek real additional medical advice and consultation with a professional healthcare practitioner before considering any CBD. No statements found on this website have underwent Food and Drug Administration evaluation. The efficacy of any products or claims made have never been approved by the FDA either. No products shall ever be intended to diagnose, treat or cure any disease or prevent any ailment.

What Is CBD?

Trending

Copyright © 2014-2019 TimesofCBD.com | Latest CBD News, Cannabis Guides and Marijuana Trends: Telegram