Walgreens to sell CBD products in 1,500 stores

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  • Walgreens will sell CBD creams, patches and sprays in nearly 1,500 stores in select states.
  • Walgreens will sell the cannabis-based products in Oregon, Colorado, New Mexico, Kentucky, Tennessee, Vermont, South Carolina, Illinois and Indiana.
  • Rival drugstore chain CVS introduced CBD-containing topicals, including creams and salves, to stores in eight states earlier in March.

Walgreens will sell CBD creams, patches and sprays in nearly 1,500 stores in select states, the company told CNBC on Wednesday.

The drugstore chain will sell the cannabis-based products in Oregon, Colorado, New Mexico, Kentucky, Tennessee, Vermont, South Carolina, Illinois and Indiana. Walgreens declined to specify which brands it would carry.

“This product offering is in line with our efforts to provide a wider range of accessible health and wellbeing products and services to best meet the needs and preferences of our customers,” Walgreens spokesman Brian Faith said in an email.

Rival drugstore chain CVS introduced CBD-containing topicals, including creams and salves, to stores in eight states earlier in March. As the non-psychoactive cannabis compound becomes one of the hottest ingredients in consumer products, retailers are carefully evaluating the market.

Consumers are increasingly curious about CBD, which promises to help everything from anxiety to pain even though there is scant evidence backing up these claims. And while CBD derived from hemp is now legal thanks to the farm bill Congress passed late last year, the FDA says companies still can’t add CBD to food or sell it as a dietary supplement.

The regulatory uncertainty has left some large companies on the sidelines for now. Selling CBD-infused beauty and skin-care products brings far less risk, making it an obvious first step for retailers.

DEA moves some CBD medicines off Schedule 1, a limited expansion of cannabis access

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The U.S. Drug Enforcement Administration has taken some cannabidiol out of the most restrictive class of controlled substances, a move that allows the sale of the first nonsynthetic, cannabis-derived medicine to win federal approval.

It’s a decision that immediately affects CBD producers but also signals the agency’s first admission that the plant has medical value.

The DEA announced Thursday that drugs including CBD with THC content below 0.1% are now considered Schedule 5 drugs, as long as they have been approved by the U.S. Food and Drug Administration.

It is the first time the agency has lowered any type of cannabis from Schedule 1.

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For Baby Boomers, 2018 Was The Year Of CBD. Get Ready For 2019

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2018 was the year CBD was on everyone’s lips, thanks to plenty of media buzz and the suddenly-ubiquitous presence of an array of CBD-infused beverages, lotions and self-care products. It was also the year “CBD gummies” reached No. 3 on Google’s most popular search terms. And I’m willing to go out on a limb that a significant portion of those searches were made by Baby Boomers.

Cannabidiol (CBD), a non-intoxicating compound found in cannabis, is being touted as a natural remedy for chronic pain, insomnia, depression and anxiety, among other conditions. The research to prove CBD’s therapeutic outcomes is still largely forthcoming. But even without the science, it’s no wonder that adults over 50, who suffer most from these conditions, are behind one of the fastest growing market segments for CBD products.

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Merry Christmas: Hemp and Hemp-Based CBD Are Now Legal

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This has been a transformational year for the cannabis industry, one that investors will possibly never forget. Although it’s been a bit rough on the investment front, with the Horizons Marijuana Life Sciences ETF, a basket of more than four dozen pot stocks, losing approximately 40% of its value, 2018 has been a year of gained validity for the cannabis industry.

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Does the 2018 Farm Bill Legalize CBD in all 50 States or Not?

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After the U.S. House and Senate easily passed the $867 billion 2018 Farm Bill, headlines began cropping up immediately about the language within that officially ends decades of senseless prohibition of the hemp plant.

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The Pot Stocks Are Soaring Again After a CBD-Based Drug Took a Step Closer to Commercial Launch

Marijuana stocks ripped higher Thursday after the U.S. Drug Enforcement Administration classified a cannabidiol-based drug made by GW Pharmaceuticals in its least restrictive category, setting the stage for commercial launch.

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Morgan Stanley: DEA Likely To Reclassify GW Pharma’s Cannabinoid Therapy For US Launch

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By Sunday night, the U.S. Drug Enforcement Administration is expected to reclassify GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH)’s Epidiolex to allow medicinal use. This could open the therapy to a new and promising market.

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