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CVS to Join the CBD Venture

CVS to Join the CBD Venture

Last Wednesday the popular pharmacy chain, CVS, announced it too would be delving into the world of CBD.

 

Now that CVS is Joining the current gold rush of pioneers creating products that contain cannabis-derived compound cannabidiol, or CBD, it is already in talked that Walgreens may not be far behind.

 

According to Shamard Charles, M.D. at NBC News,

“The national drug store chain will be marketing the topical cannabidiol products, such as creams, sprays and roll-ons, as “an alternative source of relief,” CVS said in a statement to NBC News. CVS will also be partnering with a company to test and verify the quality of the CBD topicals sold in its drug stores.”

 

Laws on the hemp-derived product vary by state, so just to start CVS will only be selling these products in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland, and Tennessee.

 

CVS has at least 9,800 stores nationwide and will soon roll out the CBD products in over 800 stores in the eight states. The health care chain says that effectiveness claims will vary from product-to-product, but that the company does not plan to market any of the items as a ‘cure-all’ product.

 

“We’re going to walk slowly, but this is something we think our customers will be looking for,” CVS Health CEO Larry Merlo said in an interview Wednesday with CNBC’s Jim Cramer.

The company noted that they would not be selling any CBD-based supplements or food additives. Under the Federal Food, Drug, and Cosmetic Act, it is illegal to introduce drug ingredients like CBD into the food supply or to market them as dietary supplements.

“Selling unapproved products with unsubstantiated therapeutic claims is not only a violation of the law, but also can put patients at risk, as these products have not been proven to be safe or effective,” FDA Commissioner Scott Gottlieb said in a statement in December.

 

Charles also noted, “for this reason, CVS will market the creams and salves as over-the-counter medicinal products, merchandised in a dedicated display.

There have been more dangerous situations where people turn down effective medications to use unproven products, like CBD.

To assure accurate labeling and safety for customers, CVS has partnered with Eurofins, a third party laboratory, to test all CBD topicals for THC, CBD content, and other contaminants, DeAngelis said in the statement to NBC News.

“‘We are working only with CBD product manufacturers that are complying with applicable laws and that meet CVS’s high standards for quality. Only products passing these independent tests are offered for sale in our stores’,” the statement said.”

 

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