U.S. regulators warned a leading marijuana company for making unproven health claims about cannabidiol, commonly called CBD, the trendy ingredient that's turning up in lotions, foods and pet treats.
The Food and Drug Administration announced Tuesday that it warned Curaleaf Inc., of Wakefield, Mass., about illegally selling unapproved products. Curaleaf's claims could lead people to delay medical care for serious conditions like cancer, the agency said.
"Consumers should beware of purchasing or using any such products," said acting FDA Commissioner Ned Sharpless in a statement.
The FDA cited claims the company made for cannabidiol's effectiveness in treating chronic pain, anxiety, attention deficit disorder, Alzheimer's disease, Parkinson's disease, cancer and opioid withdrawal.
The FDA has issued similar warning letters to smaller businesses, but this is the first since the agency began studying how it regulates the cannabis ingredient. The agency plans to report in the fall on its regulatory approach after holding a public hearing and receiving nearly 4,500 comments.
The agency is exploring "potential regulatory pathways" for some cannabidiol products to be lawfully marketed, Sharpless said.
Curaleaf, which operates in 12 states, said it will work with the FDA to resolve the issues mentioned in the warning letter. The company's shares fell more than 7% on the news, and some other cannabis stocks lost ground.
The company "is fully committed to complying with FDA requirements for all of the products that it markets," Curaleaf said in a statement.
Cannabidiol is a compound found in marijuana that doesn't cause a high. Its skyrocketing popularity has attracted mainstream retailers despite little evidence of its health claims.
Curaleaf's website and social media accounts show the company is illegally selling unapproved new drugs, the FDA said, specifically its cannabidiol lotion, a pain-relief patch, several tinctures and disposable vape pens.
The company's Bido CBD for Pets products are unapproved new animal drugs, the FDA said.
Curaleaf said all its cannabidiol products come from hemp, a cannabis plant that is low in tetrahydrocannabinol, the compound in that gives pot its high.
Business on 07/24/2019