The Food and Drug Administration held its
first-ever hearing on CBD Friday, and market
leaders gave testimony on the state of the industry and what they
hope it will look like going forward.
One participant, hemp
distributor Elixinol Global Ltd (OTC:
ELLXF), aimed to
give its recommendations and findings on several topics including
labeling and quality control guidelines.
Prior to the hearing, Elixinol spokesman Chris
Husong discussed the company's goals with Benzinga.
"What we also hope is that [the FDA] will make it
clear that over-the-counter and pharmaceuticals both have a place
in the world, and that everybody will be able to get the quality
amount of CBD that they want."
Elixinol products are available in major chain
stores including Albertson's and Safeway, and the company is
one of many CBD brands expanding into such popular stores, Husong
A lack of regulation has led the CBD industry to
develop a negative reputation in some circles.
Guidance from the FDA could remedy issues such as
lack of information, mislabeled and improperly dosed products, the
"With more guidance and more clarity, it's going
to allow us to make sure the good players are able to
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The company sent two representatives to
Washington, D.C.: Joy Beckerman, a longtime hemp advocate and
Elixinol's regulatory officer, and advisor Dr. Philip Blair.
Blair's talking points from the testimony aimed
to address concerns about adverse side effects from CBD.
" ... No patient has reported any adverse lab
outcomes, but many have reported stunning improvements in X-rays,
tumor scans, PSA and liver function," he wrote. "In summary,
high-quality CBD has been absolutely safe in all of my patients
over five years while providing immeasurable benefits."
The FDA's next steps are unconfirmed. In the
days since the hearing, many CBD stocks have declined,
The stock was down 6.54 percent at $2.64 at the
time of publication Tuesday.
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