Top hemp CBD Company urges FDA to swiftly develop regulations to separate an agricultural commodity from a controlled substance and ensure consumer safety
CV Sciences, Inc. (OTCQB:CVSI) (the “Company”, “CV Sciences”, “our”, “us” or “we”), a preeminent supplier and manufacturer of industry-dominating hemp cannabidiol (CBD) brand, PlusCBD(TM) Oil, today shared details and comments regarding its participation at the U.S. Food and Drug Administration’s (FDA) first-ever hearing on cannabis and CBD, which took place on May 31 at the FDA’s headquarters in Silver Spring, MD.
CV Sciences’ Senior Vice President of Science and Regulatory Affairs, Dr. Douglas “Duffy” MacKay, was one of only three representatives from public hemp CBD companies selected to present slides and written commentary to the FDA’s expert panel and out of 113 speakers was the only one to submit the formal safety data that the FDA requested. Dr. MacKay’s presentation focused on the importance of identifying and separately regulating different CBD product categories including drugs, foods and dietary supplements, citing omega-3 regulations as an example of an existing framework. Dr. MacKay’s presentation and transcript can be viewed online at CVSciences.com.
“The FDA hearing was a watershed moment, and an important first step toward clear policy that will shape the growth of this important new global industry, and separate agricultural hemp from controlled substances,” said MacKay. “Responsible hemp companies and FDA have a shared goal of protecting consumers, while providing access to appropriate hemp products. We urge the FDA to ensure that any corresponding regulations efficiently differentiate the hemp and marijuana supply chains.”
Added Joseph Dowling, CEO of CV Sciences: “Clear policy will allow natural product stores and national Food, Drug and Mass retailers to participate in the rapid expansion of the CBD industry currently taking place. In turn, consumers will benefit from much greater access to safe, high quality hemp-derived CBD products.”
CV Sciences is increasingly being recognized as an expert in CBD policy, advocacy and thought leadership. The Company is a founding member of the U.S. Hemp Roundtable, was first to market with its top-selling PlusCBD(TM) Oil brand and the first CBD company to complete the GRAS self-affirmation process and collaborated with industry to help shape the hemp provisions contained within the 2018 Farm Bill, which when passed removed hemp from the Controlled Substances Act.
“Considering that many hemp CBD products violating FDA regulations are currently on the market, the FDA must act swiftly to drive this conversation and put in place sensible CBD standards to ensure consumer safety,” said MacKay.
About CV Sciences, Inc.
CV Sciences, Inc. (OTCQB:CVSI) operates two distinct business segments: a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors; and a drug development division focused on developing and commercializing novel therapeutics utilizing CBD. The Company’s Plus CBD(TM) Oil is the top-selling brand of hemp-derived CBD on the market, according to SPINS, the leading provider of syndicated data and insights for the natural, organic and specialty products industry. CV Sciences, Inc. has primary offices and facilities in San Diego, California and Las Vegas, Nevada. Additional information is available from OTCMarkets.com or by visiting www.CVSciences.com.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.
Scott Van Winkle