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Tilray Brands Inc TLRY

Alternate Symbol(s):  T.TLRY

Tilray Brands, Inc. is a global lifestyle and consumer packaged goods company. The Company operates through four segments: Cannabis operations, Distribution business, Beverage alcohol business and Wellness business. The Cannabis operations, which encompasses the production, distribution, sale, co-manufacturing and advisory services of both medical and adult-use cannabis. The Beverage alcohol operations, which encompasses the production, marketing and sale of beverage alcohol products. The Distribution operations, which encompasses the purchase and resale of pharmaceuticals products to customers. The Wellness products, which encompasses hemp foods and cannabidiol (CBD) products. The Company offers a portfolio of adult-use brands and products and expands its portfolio to include new cannabis products and formats. Its brands include Good Supply, RIFF, Broken Coast, Solei, Canaca, HEXO, Redecan, Original Stash, Hop Valley, Revolver, Bake Sale, XMG, Mollo, and others.


NDAQ:TLRY - Post by User

Post by Savage97on Sep 26, 2024 9:23am
100 Views
Post# 36241919

Bullish

Bullish

Congress introduces bill to create pathway for hemp products, cannabinoids Sept25, 2024

The FDA would be tasked with developing regulatory details and specific product safety rules if the legislation passes. Members of Congress are looking to weigh in on the establishment of national standards for hemp products that have been grabbing national headlines lately.

The Cannabinoid Safety and Regulation Act, introduced Wednesday by Sen. Ron Wyden, a Democrat from Oregon, would create a comprehensive regulatory framework for hemp-derived cannabinoid products under the Food and Drug Administration’s oversight.

“Cannabis prohibition has never kept cannabis out of the hands of kids,” Wyden said in a statement. “Robust regulation can give consumers a safe, reliable option while deterring unregulated markets and disallowing unsafe products.”

The bill would set a federal age limit of 21 for purchasing hemp-derived products and establish manufacturing, testing and labeling requirements. It would also ban synthetic cannabinoids and prohibit marketing tactics that could appeal to children. Under the proposal, cannabinoid product producers would be required to register with the FDA and test their products for potency, pesticides, heavy metals and other contaminants. The FDA would be tasked with developing specific rules for manufacturing and testing.

The legislation would also standardize labeling and packaging requirements nationwide.

“A federal floor for regulation of hemp products is non-negotiable to ensure that consumers aren’t put at risk by untested products of unknown origin,” Wyden said. “My legislation will ensure that adult consumers know what they’re getting, and that hemp products are never sold or marketed to children.”

However, the bill would “explicitly” allow states to regulate or prohibit hemp-derived cannabinoid products how they want on their own time.

“This legislation respects states’ rights to do so,” according to the bill’s summary.

The bill also would give the FDA authority to create additional regulations for hemp products that could impact how hemp foods are produced and marketed. For instance, the bill would allow that agency to mandate the inclusion of a “nutrition facts-like” label for cannabinoids, which could apply to hemp foods as well. The bill proposes a definition for “total THC content” that includes “the cannabinoid in all forms,” including CBD and delta-8 THC. It also specifically includes THC’s “precursor form, tetrahydrocannabinolic acid (THCA),” which has been marketed as THCA flower but tested as federally compliant hemp.

The provisions could bring much-needed clarity to the market, which has operated in a regulatory gray area and allowed for many untested and potentially unsafe items to hit the market since hemp was legalized in 2018.

According to the bill’s one-pager: “Absent significant regulation from the FDA in the years since, hemp-derived cannabinoid products have flooded into national markets. Some states have regulated these products, but some haven’t, leaving consumers to wade through inconsistencies between marijuana and hemp products across various markets.”

The FDA has faced criticism for its slow response to regulating the industry, particularly CBD. But the agency has also punted the blame to Congress for not passing remedial forms of legislation.

The act would also establish new grant programs for underage cannabis use prevention and cannabis-impaired driving prevention. It would likewise fund research to develop standards for cannabis impairment and drugged driving detection. In addition, the bill proposes significant funding for these initiatives, including $125 million for underage use prevention and $200 million for state cannabis-impaired driving prevention programs.

https://www.greenmarketreport.com/crongress-introduces-bill-to-create-pathway-for-hemp-products-cannabinoids/


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