SLEEKSCAPE'S 2022 CANNABIS & MARIJUANA MANIA GRAND SALAMI -- PART II

[sleekscape]

Griffith Introduces Bill to Permit Hemp and Hemp-Derived Products as Ingredients in Dietary Supplements

https://morgangriffith.house.gov/news/documentsingle.aspx?DocumentID=402351

Congressman Morgan Griffith (R-VA) issued the following statement after introducing with Congressman Kurt Schrader (D-OR) the Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2020:

“Hemp was historically an important crop for Virginia farmers, and dietary supplements made from it do not possess dangerous addictive qualities. Nevertheless, the current state of regulation creates confusion about its legal uses. I joined this bipartisan bill to provide certainty for hemp farmers that their crop may find legal uses.”

Background

The Hemp and Hemp-Derived CBD Consumer Protection and Market Stabilization Act of 2020 would make hemp, cannabidiol derived from hemp, and other hemp-derived products lawful for use unless otherwise directed by the Food and Drug Administration.


— — —

The FDA will still have the final say in terms of which formulations will be permitted — that should give some reassurance to those in Congress who may be hesitant to “overrule” the FDA

We know from the totality of the evidence that Pure CBD (CBD Isolate) appears to be the FDA’s 1st choice

So the most important question that arises from this legislation — is this bill an “ask” of the FDA?

In other words, is Congress using this legislation to provide pressure on the FDA, which may be hesitant to permit Broad Spectrum CBD in their upcoming FDA Enforcement Regulations?

Or has the FDA already internally agreed to allow other cannabinoids besides CBD and this legislation reflects that agreement?

If so, Dr. Hahn deserves a ton of credit

Either way, this is a very aggressive bill and would be much better economically for the Hemp & CBD industry than only legalizing CBD Isolate, like we saw with HR 5587 — the size of the hemp-derived cannabinoid market is much larger than the isolate market alone and therefore should attract a greater degree of investor interest to the Hemp & CBD sector

A final consideration is what will happen to this bill moving forward?

There is an expectation from Jonathan Miller and many other people inside the industry that Beverages and Foods will be added to this bill or filed as a separate bill

Beverages and Foods permitted by the FDA in their Enforcement Discretion Regulations are likely to remain CBD Isolate only, as the bar for safety is higher in Foods than in Supplements, and there is simply far more data on CBD than on the other cannabinoids (CBG/CBN/CBC, etc)

It makes sense to start legislation with Dietary Supplements because that is the lower hanging fruit from the FDA’s perspective

If the FDA has internally agreed to permit other cannabinoids besides CBD, then Broad Spectrum CBD should stay in the bill

If the FDA opposes it, then it may be stripped out of the bill before passage and we could wind up with a bill looking like HR 5587:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155119606


Sleek