The major pharmaceutical companies are lobbying the FDA to stop the sale of CBD oil products to American consumers. This will hurt our nation’s farmers, the economy, and the people of our great nation.
While the FDA is focused on addressing the pandemic crisis, the multi-billion-dollar conglomerates are in the backroom of the FDA trying to squash the bipartisan backed efforts led by the Trump administration to launch the hemp industry in the United States.
CBD from hemp is the primary driver in the hemp economy
CBD from hemp is the primary driver in the hemp economy, stimulated by the passage of the administration’s 2018 Farm Bill, which was passed to help American farmers and the American people.
The US hemp-derived CBD market for this year is estimated to be $4.7bn according to The Brightfield Group, which predicts it will grow to $16.8bn in 2025. If the FDA enacted fair regulation on CBD products, the economic impact could be 10-fold more, allowing the hemp industry to flourish: the economy, farmers and jobs would immediately skyrocket.
Any CBD product with 90%+ purity would be regulated as a pharmaceutical grade drug
President Trump can bring justice to the CBD market now by having the FDA implement a 90% purity rule.
Any CBD product with 90% purity and above would be regulated as a pharmaceutical grade drug for exclusive use by pharma and life sciences, and anything below 90% purity would be treated like all other plants and vegetable extracts, just like omega oils, which includes dosage limits, good manufacturing practices, and any more safety regulations.
Legacy career FDA employees have been heavily lobbied over the years and they now regulate everything in favor of big pharma, only.
The current regulatory channels for food and supplements exist for CBD to ensure the safety of food and supplements but overregulation will hurt farmers, kill jobs, and block an immediate multi-billion-dollar stimulus in this time of need.
We need clarity before the spring planting season begins
The public needs to contact their federally elected representative on this issue to have them tell President Trump to bring clarity this year before the spring planting season begins.
Industrial hemp has been around since the dawn of time and in 2018 with bipartisan support it is now once again legal in the USA.
Hemp and its compounds such as CBD have been foundational to this great nation. The first draft of the declaration of independence was written on it, the first flag was made of it and our founding fathers including George Washington grew and praised it.
It was sold in candies for years in the 1800s. Before that, in Virginian colonies it was required by law to grown, for national security. The oldest printed cookbook in the world, a roman cookbook, has a recipe for cooking hemp flowers in oil to extract the CBD and other compounds, and then drink them for health reasons.
We need to treat CBD hemp products they way we do omega fish oils
The American people and the marketplace want and deserve CBD products as food and supplements, alongside pharmaceuticals, just like omega fatty acid oils.
Currently the FDA regulates 97% pure omega fatty acid as a drug, and they regulate the lower purity omega fatty acids as food and supplements. Today the global omega oil market is $6.3bn and growing rapidly. The majority of sales come from supplements with a smaller section from pharmaceuticals.
We need to treat CBD hemp products they way we do omega fish oils, so that the vision of the 2018 Farm Bill can come to fruition.
America should be the global leader in the CBD industry
If we can get regulatory clarity from the FDA, we will see a massive multibillion-dollar surge with jobs and boon for our country. Immediate benefit will occur for our farmers, economy, all industries and citizens, including food, supplement, grocery, and life sciences and pharma. This includes 1,000s of jobs and billions of dollars generated for the USA.
America should be the global leader in the CBD industry.
We need President Trump to take charge in order for the CBD industry to flourish as was intended, so that Americans can receive the economic benefit of the hemp industry and enjoy the fruits of this great plant that is American as apple pie.
Thank you for listening, now let’s all get our elected officials to act.
Will Kleidon is founder and CEO of California-based water-soluble CBD specialist Ojai Energetics, which makes a range of products featuring hemp-derived CBD. Its extracts are also used in some consumer brands including LIFEAID CBD.
Further reading:
- CRN files petition proposing way forward for CBD supplements; leaves foods/beverages to be dealt with ‘later’
- Highlights from our hemp and CBD webinar… ‘Ultimately brands are going to win’
- Hemp groups dial up pressure for federal CBD regulation
- VIDEO: Is FDA open to entertaining an NDI for CBD products?
- FDA report details poor quality control, undisclosed THC in many CBD products
- FDA says it’s made ‘substantial progress’ on CBD regs; CV Sciences weighs in on food vs pharma path; man sues CBD firm after failing drugs test
