The U.S. Food and Drug Administration continues to be concerned about the proliferation of products containing CBD that are marketed for therapeutic or medical uses that have not been approved by the FDA. On Tuesday, July 23, 2019, FDA issued a press release announcing it has issued a warning letter to Curaleaf Inc., of Wakefield, Massachusetts, alleging the company illegally sold unapproved products containing cannabidiol (CBD) online with unsubstantiated claims that the products treat cancer, Alzheimer’s disease, opioid withdrawal, pain and pet anxiety, among other conditions or diseases.
The agency’s press release cites a number of claims as unsupported and unapproved. Curaleaf is reportedly the largest cannabis company in the United States as measured by revenue. Subsequent news reports indicated Curaleaf’s stock suffered a 15% drop on Tuesday.
The FDA noted that, other than one prescription human drug product to treat rare, severe forms of epilepsy, the agency has not approved any other CBD products and issued a strongly worded note of caution to consumers and pet owners.
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