Balancing Between FDA Concerns And Industry Stability: CBD Industry Veterans Launch Alliance

A historic alliance of top cannabidiol (CBD) companies advocating for legislation and FDA regulation of hemp-derived CBD products as dietary supplements launched Tuesday. The alliance, ONE HEMP, includes some of the biggest names in the space, like Charlotte’s Web CWBHF, but also BayMedica, Brands, FSOil, Hemp Beverage Alliance, Kazmira, MAD TASTY, Open Book Extracts and Wyld.

“This coalition has and will continue to offer Congress science-backed policy solutions, including an FDA mandate to regulate hemp-derived products through the existing regulatory framework for dietary supplements,” stated Kelly D. Fair, strategic advisor to ONE HEMP, Dentons U.S. Cannabis and Hemp Group Partner. She is also the organizer of ONE HEMP’s RFI submission. “ONE HEMP advocates for industry requirements to disclose hemp-derived product warning statements addressing the FDA's public risk concerns and product safety and non-impairment recognition at certain dose levels based on credible scientific data,” Fair added.

The coalition was formed as a direct response to the collaborative process outlined by the FDA in January and the bipartisan, bicameral Request for Information (RFI) that Congress issued in July. At the beginning of the year, the FDA announced it would not regulate CBD products as food and dietary supplements, and then a couple of months later, the agency presented a potential framework for CBD and reaffirmed that Congress is in charge.

ONE HEMP is encouraged by the FDA’s proactive engagement and says the opportunity has arrived for substantive federal CBD policy reform in Congress. "We look forward to working with policymakers, regulators, and stakeholders to advance the future of CBD regulation."

FDA's Inaction

In July, for the first time, Congress officially addressed the impact of the FDA's inaction regarding the regulations of CBD products. In an opening statement at the hearing, “Hemp in the Modern World: The Years long Wait for FDA Action,” Republican representative Lisa McClain slammed the FDA, saying that they are asking for more money to fulfill their duties under the law.

See Also: U.S. Hemp Roundtable Members Respond To Congress On CBD Regulations, Here's What They Said

ONE HEMP will continue to offer policymakers a science-backed and safety-minded industry resource for the development of a regulatory approach that aligns with the need to ensure access for the more than 45 million Americans who rely on the benefits of CBD every day, including veterans, seniors, families, athletes, and more.

The coalition relies on scientific support from Dr. Marcel Bonn-Miller Ph.D., chief scientific officer at Charlotte’s Web and a leading cannabinoid scientist who was pivotal in bringing cohesion to the scientific data presented to Congress. He has spent many years highlighting the implications of existing regulatory gaps, like his study on inaccurate labeling of many CBD products. Two more sources of knowledge power ONE HEMP relies on are two new cannabinoid studies.

See Also: Is It Hemp? Is It Weed? Is It Food Or Supplement? Congress Should Make It Clear In 2023 Farm Bill, Say Regulators

Photo: Benzinga edit with images by RA_EVVA on Shutterstock and Zebulon Rogerson on Wikimedia Commons

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CannabisNewsPenny StocksMarketsBayMedicabrandsCBDDr. Marcel Bonn-MillerFDA hempFSOilHemp Beverage AllianceKazmiraKelly D. FairLisa McClainMAD TASTYONE HEMPOpen Book ExtractsWyld
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Cannabis is evolving – don’t get left behind!

Curious about what’s next for the industry and how to leverage California’s unique market?

Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!

Get your tickets now to secure your spot and avoid last-minute price hikes.