Business

CVS heard from its customers. They want CBD.

The drugstore chain last week started selling CBD, short for cannabidiol products, in eight states. The products include topicals such as creams, sprays, roll-ons, lotions and salves.

“Anecdotally, we’ve heard from our customers that have used those products that, gee, it’s helped with pain relief for arthritis and other ailments,” CVS CEO Larry Merlo said Thursday in an interview with CNBC’s Jim Cramer.

CVS specified that it’s not selling any CBD-containing supplements or food additives.

The farm bill President Donald Trump signed in December legalized hemp-derived CBD. However, it’s still unlawful under the Food and Drug Administration’s regulations to add CBD to food and beverage products because the compound is an active ingredient in a drug product, Epidiolex.

“So we’re gonna walk slowly, but we think this is something that customers are going to be looking for as part of the health offering,” Merlo said Thursday.

Products You May Like

Articles You May Like

Boeing’s 737 Max troubles expected to sap US growth with projected hit to GDP in the second quarter
Two simple insurance charges you need to understand when choosing health coverage
Cramer Remix: This industry is signaling there’s no rationale for more rate hikes
J&J’s first-quarter earnings drop 14% as legal costs soar
A former Abu Dhabi investing official thinks ethics are going to play a bigger role in market decisions

Leave a Reply

Your email address will not be published. Required fields are marked *