CVS has started carrying CBD products in eight states, the company announced on Wednesday. The pharmacy chain will not carry CBD-containing supplements or food additives, opting instead for topicals.
According to a CNBC report, the products are available in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee.
“We have partnered with CBD product manufacturers that are complying with applicable laws and that meet CVS’s high standards for quality.” – CVS spokesperson, in a statement to CNBC
During an earnings conference call, Curaleaf CEO Joseph Lusardi said the company has been having “dialogue with national retailers for many months now” and they had reached a deal with CVS to sell its products at more than 800 stores.
CVS has not confirmed the partnership with Curaleaf; but stocks of the company jumped 17 percent on the Toronto Stock Exchange after the announcement. Curaleaf operates 40 dispensaries throughout the U.S.
Under the Farm Bill signed by President Donald Trump in December, hemp-derived CBD is legal but the Food and Drug Administration does not allow it to be added to food or beverages because it’s the active compound in the pharmaceutical Epidiolex.
Curaleaf indicated the products would be available on the CVS website.