Throw some pennies in a wishing well for this one. Health Canada, which oversees both pharmaceutical drug sales and the nation’s high-THC cannabis industry, is expecting final recommendations this summer on CBD and what it calls “health products containing cannabis that would not require practitioner oversight.”
A three-year review by a Health Canada advisory committee is expected to conclude this summer with “appropriate safety, efficacy and quality standards” for those products, agency spokesperson Tammy Jarbeau told MJBizDaily.
Jarbeau could not say how long it might take the agency to make a decision on CBD sales after the release of the recommendation.
If it all leads to market opportunities outside the nation’s marijuana retailer sector, Canada could see a huge new market open to cannabis as well as mainstream businesses.
“The opportunity is significant” for a vibrant CBD market outside traditional cannabis retailers, said Bethany Gomez, managing director of the Brightfield Group, a cannabis-focused consumer-research firm in Chicago.
“Canadian regulations have been a huge barrier to the CBD category gaining traction. If the regulations change, there’s a real opportunity for significant growth for CBD.”
According to Sean Karl, a Vancouver, British Columbia-based supply-chain consultant who specializes in cannabis logistics, many mainstream Canadian retailers are eager to start selling CBD.
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