HOUSE_OVERSIGHT_024879.jpg
1.74 MB
Extraction Summary
2
People
7
Organizations
1
Locations
1
Events
2
Relationships
3
Quotes
Document Information
Type:
Financial research report / market analysis
File Size:
1.74 MB
Summary
This document is page 63 of a Cowen Collaborative Insights report dated February 25, 2019, authored by an analyst named Rhyee. It analyzes the market trends of CBD products in pharmacies, noting that independent pharmacies are adopting CBD sales faster than large chains like CVS or Walgreens due to high margins and demand. The report highlights that while Walgreens (WBA) does not sell CBD in the US, its UK subsidiary, Boots, does sell Dragonfly brand CBD oils, as illustrated by a website screenshot included in the report. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, suggesting it was produced during a congressional investigation.
People (2)
| Name | Role | Context |
|---|---|---|
| Rhyee | Analyst/Author |
Mentioned in the section header 'Health Care: Drug Retailer Perspective (Rhyee)'
|
| Michael Cella | Recipient |
Named in the sidebar restriction text: 'intended for michael.cella@cowen.com'
|
Organizations (7)
| Name | Type | Context |
|---|---|---|
| Cowen / Cowen and Company |
Author of the report
|
|
| National Community Pharmacists Association (NCPA) |
Hosted a panel on CBD products in October 2018
|
|
| CVS Pharmacy |
Mentioned as a large chain not currently selling CBD oil
|
|
| Walgreens |
Mentioned as a large chain not currently selling CBD oil
|
|
| WBA (Walgreens Boots Alliance) |
Parent company of Walgreens and Boots; management monitoring CBD market
|
|
| Boots |
UK chain owned by WBA that sells CBD oil
|
|
| Dragonfly CBD |
Brand of CBD oil shown in the screenshot of the Boots website
|
Timeline (1 events)
October 2018
Annual convention held by the National Community Pharmacists Association (NCPA)
Unknown
NCPA
Independent pharmacy owners
Locations (1)
| Location | Context |
|---|---|
|
Location of Boots pharmacy chain mentioned in the text
|
Relationships (2)
Boots, which is a pharmacy chain in the U.K. owned by WBA
email address michael.cella@cowen.com
Key Quotes (3)
"Large Pharmacy Chains Don’t Appear As Quick To Offer CBD Oils"Source
HOUSE_OVERSIGHT_024879.jpg
Quote #1
"Anecdotally, reports note that many independent pharmacies have received positive feedback from patients, attributing diminished opioid dependence and pain relief to CBD oils."Source
HOUSE_OVERSIGHT_024879.jpg
Quote #2
"Interestingly, Boots, which is a pharmacy chain in the U.K. owned by WBA, sells CBD oil in three different doses"Source
HOUSE_OVERSIGHT_024879.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (3,353 characters)
COWEN
COLLABORATIVE INSIGHTS
February 25, 2019
COLLABORATIVE INSIGHTS
February 25, 2019
Health Care: Drug Retailer Perspective (Rhyee)
CBD Products Gaining Traction With Independent Pharmacies
CBD products appear to be gaining traction with independent pharmacies, many of whom are already selling or planning to sell CBD oils. We don't find this surprising given the high demand for and strong expected growth potential of CBD products, as well as the differentiation it affords independents relative to larger chain pharmacies.
Independent pharmacies also likely find the high-margin profile of CBD oils attractive, which we suspect is similar to those of more traditional over-the-counter drugs. OTC drugs are a substantial profit driver for independent pharmacies. The greater acceptance of and improving sentiment towards CBD products as a viable business for independent pharmacies is evidenced by a panel held by the National Community Pharmacists Association (NCPA) at its annual convention in October 2018, which served to educate independent pharmacy owners of the legality, clinical uses, potential risks and marketing tactics of CBD oils. For those independent pharmacies that have decided to sell CBD oils, ensuring that they provide high-quality products is paramount, with a focus on looking at the bioavailability of CBD. Additionally, independent pharmacies emphasize the importance of patient education, in regards to treatment and potential side effects. Anecdotally, reports note that many independent pharmacies have received positive feedback from patients, attributing diminished opioid dependence and pain relief to CBD oils.
Independent pharmacies also likely find the high-margin profile of CBD oils attractive, which we suspect is similar to those of more traditional over-the-counter drugs. OTC drugs are a substantial profit driver for independent pharmacies. The greater acceptance of and improving sentiment towards CBD products as a viable business for independent pharmacies is evidenced by a panel held by the National Community Pharmacists Association (NCPA) at its annual convention in October 2018, which served to educate independent pharmacy owners of the legality, clinical uses, potential risks and marketing tactics of CBD oils. For those independent pharmacies that have decided to sell CBD oils, ensuring that they provide high-quality products is paramount, with a focus on looking at the bioavailability of CBD. Additionally, independent pharmacies emphasize the importance of patient education, in regards to treatment and potential side effects. Anecdotally, reports note that many independent pharmacies have received positive feedback from patients, attributing diminished opioid dependence and pain relief to CBD oils.
Large Pharmacy Chains Don't Appear As Quick To Offer CBD Oils
Large pharmacy chains, such as CVS Pharmacy and Walgreens, don't currently sell CBD oil. WBA management has noted that, while the company is monitoring the CBD market and the potential to sell it, WBA currently has no public stance on whether it plans to sell CBD products future. Interestingly, Boots, which is a pharmacy chain in the U.K. owned by WBA, sells CBD oil in three different doses (Figure 107). As such, we wouldn't be surprised if WBA decides to sell CBD products in the future.
[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.
Figure 107 Boots - Cannabidiol & CBD Oil Offerings
[Screenshot of Boots Website]
Boots
Ship to [UK Flag] | Find a store | Help | Log in/register | Sign up for Boots Advantage Card
shop by department | prescriptions | services | inspiration & advice | Search products, brands and services... [Search Icon] [Basket Icon]
Home > health & pharmacy > vitamins & supplements > shop by ingredient > cannabidiol & CBD oil
Boots
Ship to [UK Flag] | Find a store | Help | Log in/register | Sign up for Boots Advantage Card
shop by department | prescriptions | services | inspiration & advice | Search products, brands and services... [Search Icon] [Basket Icon]
Home > health & pharmacy > vitamins & supplements > shop by ingredient > cannabidiol & CBD oil
cannabidiol & CBD oil
filter by:
> brand
Showing 1 - 3 of 3
Sort by: Best match
View 24
> brand
Showing 1 - 3 of 3
Sort by: Best match
View 24
[Product 1]
Offer
DRAGONFLY CBD
300
Dragonfly CBD Cannabidiol Oil 300mg 3.3% - 10ml
3 for 2 on selected vitamins...
£24.99 10ML | £249.90 per 100ML
- 1 + Add
Offer
DRAGONFLY CBD
300
Dragonfly CBD Cannabidiol Oil 300mg 3.3% - 10ml
3 for 2 on selected vitamins...
£24.99 10ML | £249.90 per 100ML
- 1 + Add
[Product 2]
Offer
DRAGONFLY CBD
500
Dragonfly CBD Cannabidiol Oil 500mg 5.6% - 10ml
3 for 2 on selected vitam...
£39.99 10ML | £399.90 per 100ML
- 1 + Add
Offer
DRAGONFLY CBD
500
Dragonfly CBD Cannabidiol Oil 500mg 5.6% - 10ml
3 for 2 on selected vitam...
£39.99 10ML | £399.90 per 100ML
- 1 + Add
[Product 3]
Offer
DRAGONFLY CBD
1000
Dragonfly CBD Cannabidiol Oil 1000mg 11.1% - 10ml
3 for 2 on selected vitam...
£69.99 10ML | £699.90 per 100ML
- 1 + Add
Offer
DRAGONFLY CBD
1000
Dragonfly CBD Cannabidiol Oil 1000mg 11.1% - 10ml
3 for 2 on selected vitam...
£69.99 10ML | £699.90 per 100ML
- 1 + Add
Source: Boots.com and Cowen and Company
COWEN.COM
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HOUSE_OVERSIGHT_024879
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HOUSE_OVERSIGHT_024879
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