HOUSE_OVERSIGHT_024893.jpg
1.82 MB
Extraction Summary
1
People
8
Organizations
5
Locations
3
Events
1
Relationships
4
Quotes
Document Information
Type:
Market research report / regulatory update
File Size:
1.82 MB
Summary
This document is a page from a Cowen 'Collaborative Insights' market report dated February 25, 2019, bearing the Bates stamp HOUSE_OVERSIGHT_024893. It details regulatory crackdowns and guidance regarding CBD (cannabidiol) products in Maine, New York, and North Carolina, specifically noting that these states are aligning with FDA guidance to prohibit CBD in food additives while creating specific frameworks for supplements or topicals. While part of the House Oversight production (likely related to financial records), the text itself discusses cannabis industry regulations and does not mention Jeffrey Epstein or his associates.
People (1)
| Name | Role | Context |
|---|---|---|
| Michael Cella | Recipient |
Email address listed in the sidebar as the intended recipient of the report (michael.cella@cowen.com).
|
Organizations (8)
| Name | Type | Context |
|---|---|---|
| Cowen |
Investment bank/financial services firm producing the report.
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| Maine Department of Health and Human Services |
Ordering businesses to remove CBD edibles.
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| FDA |
Food and Drug Administration, setting federal guidance on CBD.
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| Portland Press Herald |
Source of information regarding Maine's crackdown.
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| New York State Department of Agriculture and Markets |
Issued FAQ on hemp-derived CBD products.
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| New York Times |
Reported on NYC enforcement.
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| New York Department of Health and Mental Hygiene |
Enforcing restrictions in NYC restaurants.
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| North Carolina Department of Agriculture and Consumer Services |
Issuing warning letters to manufacturers.
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Timeline (3 events)
December 18, 2018
NY State Dept of Agriculture and Markets issued FAQ on hemp products.
New York
Early February 2019
New York Times reported on NYC health department crackdowns on CBD in restaurants.
New York City
February 08, 2019
North Carolina issued a press release regarding CBD warning letters.
North Carolina
Locations (5)
| Location | Context |
|---|---|
|
State enforcing CBD edible bans.
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Cited as having similar regulations to Maine.
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State issuing new guidance on hemp/CBD.
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Location of restaurant enforcement.
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State aligning with federal laws on CBD.
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Relationships (1)
Sidebar text: 'This report is intended for michael.cella@cowen.com'
Key Quotes (4)
"State health inspectors in Maine have reportedly told businesses to remove 'all foods, tinctures and capsules' containing CBD from their shelves"Source
HOUSE_OVERSIGHT_024893.jpg
Quote #1
"New York will require licensure and prior written approval to produce and sell certain food and beverages under the New York State Industrial Hemp Research Pilot Program."Source
HOUSE_OVERSIGHT_024893.jpg
Quote #2
"CBD cannot legally be added to any human food or animal feed that is for sale"Source
HOUSE_OVERSIGHT_024893.jpg
Quote #3
"North Carolina intends to take an 'educate before regulate stance with industry'"Source
HOUSE_OVERSIGHT_024893.jpg
Quote #4
Full Extracted Text
Complete text extracted from the document (3,361 characters)
COWEN
COLLABORATIVE INSIGHTS
February 25, 2019
COLLABORATIVE INSIGHTS
February 25, 2019
Maine
Despite being one of 10 states to legalize marijuana for recreational use, health officials in Maine recently ordered businesses in the state to remove CBD-infused edibles from store shelves according to an article in the Portland Press Herald. Similar to California, the Maine Department of Health and Human Services appears to be following the FDA's lead in determining that CBD is an unapproved food additive.
State health inspectors in Maine have reportedly told businesses to remove "all foods, tinctures and capsules" containing CBD from their shelves; however, business owners can still sell "CBD products that can be smoked, vaped, worn as a patch or applied as a lotion, and all medical marijuana patients can still buy oral CBDs from licensed caregivers or dispensaries."
New York
In response to the 2018 Farm Bill, the New York State Department of Agriculture and Markets issued a FAQ dated Dec. 18, 2018 on the manufacture and sale of hemp-derived CBD products. The department indicates that its current guidance is subject to change and that it will likely be issuing additional regulations as the industry evolves.
The FAQ suggests that New York will allow the sale of CBD products sold as a topical or dietary supplement (pill or tincture), the latter of which runs counter to FDA's current position. However, the guidance appears to restrict CBD products for vaping/inhalation.
Additionally, New York will require licensure and prior written approval to produce and sell certain food and beverages under the New York State Industrial Hemp Research Pilot Program. Licensees under the program can sell products that are "(1) listed in your Research Plan and (2) produced in a facility meeting dietary-supplement GMP standards and (3) properly labeled and packaged for sale pursuant to FDA regulations for dietary supplements, and (4) in compliance with all provisions of the Research Partner Agreement."
Otherwise, New York will restrict the manufacture and sale of ready-to-eat food and beverage products with added CBD infusions or CBD extracts and lists products such as "CBD chocolate syrup, CBD soda, and CBD-infused frosting drizzled cookies." In early February, the New York Times reported that the New York Department of Health and Mental Hygiene was beginning to more aggressively enforce this restriction in New York City restaurants and eateries.
North Carolina
The North Carolina Department of Agriculture and Consumer Services recently announced its intent to issue warning letters to manufacturers and retailers who sell products containing CBD oil in the state. According to a Feb 8 press release, North Carolina will follow current federal laws, meaning that "CBD cannot legally be added to any human food or animal feed that is for sale," as CBD is the active ingredient in an FDA-approved therapy and cannot be considered a dietary supplement.
North Carolina intends to take an "educate before regulate stance with industry," according to the release. However, the state will "reserve the right to be more assertive" to ensure consumer health and safety, likely meaning product embargoes and seizures.
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[Sidebar Text]
This report is intended for michael.cella@cowen.com. Unauthorized redistribution of this report is prohibited.
This report is intended for michael.cella@cowen.com. Unauthorized redistribution of this report is prohibited.
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