The cannabis industry has aspirations of rapid growth in sight. That is, the industry is quickly gaining momentum, capturing more and more national attention than ever before. With the cannabis industry expected to grow at 20% or more for the next – AT LEAST – five years, the landscape is changing fast for patients, consumers, advocacy groups, governmental organizations, and all other interested parties.
Marijuana legalization in several U.S. states, like Oregon and California, has further challenged federal conventions, leading businesses and users of cannabis into the uncharted regulatory territory. Through all this, weed news seems to find its way to inspire curiosity beyond the political and legal landscape.
The FDA Sees Potential
The Food and Drug Administration (FDA) broadly oversees all pharmaceuticals, foods, packaging design, some cosmetics, herbals, and supplements. They also have the authority to recommend to Congress and the DEA a drug be changed in classification based on medical uses, addictive predictability, and risk to public health. Under this microscope, marketing of products falls within their durable latitude of oversight.
The effect of the FDA on cannabis-infused product producers is potentially devastating for any who fall out of compliance or fail to meet FDA requirements altogether. This makes weed news after the FDA on November 1st published a news release specifying a targeted position on the cannabis industry.
Specifically, the release clarifies the FDA position on the marketing of cancer treatments and was further conceded the FDA were ordering several larger CBD product producers to cease several, any, and all current product marketing, promotional, or sales tactic suggesting CBD is a treatment for cancer.
While this has surely sent a message to the operators of those CBD products, it has the bounded capacity to suggest a broader regulatory message aimed at the cannabis, including hemp, health products industry:
We Are Watching You.
The campaign to crack down on CBD health claims comes as public insights on the non-psychoactive cannabis compound are growing.