CVS Pharmacy (NYSE:CVS) said on Wednesday that it has started selling cannabidiol, or CBD, products in select states.
The pharmacy chain said the products include topicals such as creams, sprays, roll-ons, lotions and salves. These products are available in eight states. In a statement, CVS specified that it's not selling any CBD-containing supplements or food additives.
"We have partnered with CBD product manufacturers that are complying with applicable laws and that meet CVS's high standards for quality," continued the quote.
CBD is quickly becoming one of the hottest ingredients in consumer products. Companies are adding the non-psychoactive cannabis compound to food, beverages and skin care products.
CBD is quickly becoming one of the hottest ingredients in consumer products. Companies are adding the non-psychoactive cannabis compound to food, beverages and skin care products.
The farm bill President Donald Trump signed in December legalized hemp-derived CBD. However, it's still unlawful under the Food and Drug Administration's regulations to add CBD to food and beverage products because the compound is an active ingredient in a drug product, Epidiolex.
Outgoing FDA Commissioner Scott Gottlieb has signaled the agency will suggest ways to change this. In the meantime, large manufacturers and retailers are trying to navigate the regulatory uncertainty.
The CEO of cannabis company Curaleaf said on the firm's earnings call Wednesday that, starting this week, over 800 CVS health stores across 10 states started selling its products. Curaleaf also said they will soon be offered on the CVS.com website.
Shares in CVS backed off nearly three cents to $56,13
