The attitude towards marijuana-based products has changed drastically the last several decades, and now more top tier retail chains across the nation are stocking their shelves with CBD-infused products ranging from candies to ointments. This past week, Walgreens joined their primary competitor CVS by announcing they would begin selling CBD-infused products within the near future.
According to a recent article from Fox News, only select Walgreens in certain states (where CBD policies permit) will begin to offer a wide selection of CBD-infused products. States include “Oregon, Colorado, New Mexico, Kentucky, Tennessee, Vermont, South Carolina, Illinois and Indiana.” As for CVS who has the head start over Walgreens, they currently offer similar products in around “800 stores in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland, and Tennessee.” The big winner in this is the CBD product developer and distributor Curaleaf Holdings Inc., a Canadian based marijuana company who is sure to bring in increased profits thanks to this expansion into retail markets throughout the United States.
The mindset towards the market opportunity provided by hemp alone has many investors seeing green, especially after President Trump signed into law a bill legalizing the farming of hemp-derived CBD. In a statement provided to NBC by Walgreens spokesperson Brian Faith, “This product offering is in line with our efforts to provide a wider range of accessible health and well-being products and services to best meet the needs and preferences of our customers.”
The attitude change in both the private sector and amongst lawmakers has everything to do with the changing attitudes towards legalized and decriminalized marijuana and hemp, particularly for the use of medical purposes. In terms of CBD, “which promises to help everything from anxiety to pain even though there is scant evidence backing up these claims” according to NBC, markets ultimately follow consumer demands, which are the king of any market. While products are growing and the laws are favoring CBD, the FDA still stands by their decision not to add CBD to food and/or dietary products.
The products that CVS and Walgreens will be selling which are infused with CBD will primarily skin replenishing and cosmetic products, therefore nothing digestible or for direct medical based purposes which you typically needed the consultation of a doctor for, specifically in states where CBD can be prescribed for reasons ranging from nerve pain to visionary impairments.
Sources: Fox News, NBC