Expanding beyond a previous oil and capsule-based product lineup, Charlotte’s Web Holdings, Inc. (TSX:CWEB; OTCQX:CWBHF) just added three new gummies to the company’s brand portfolio. As of today, the Calm, Recovery, and Sleep gummies are now available for ordering online.
Each new product sells at a price of $54.99 for a bottle of 60 gummies, with 1 –2 meant to be taken either during the day for the Calm and Recovery varieties, or slightly before bed for the Sleep version. That final product notably also includes melatonin, a supplement that helps with sleep.
Hemp-derived CBD gummies are rapidly hitting shelves in health and wellness outlets, vape shops, CBD-exclusive storefronts, and even unexpected locations such as convenience stores and gas stations across the U.S.
Discussing the sharply increased customer demand for gummies, Charlotte’s Web Associate Director of Product Development Kelsey Morrison commented:
In addition to the new gummy products, Charlotte’s Web also recently launched a line of CBD drops and chews meant for dogs.
Whether intended for human or pet consumption, the CBD industry has seen a sudden and rapid explosion of popularity, which may soon be tempered by new government regulations.
Immediately after the passage of the Agriculture Improvement Act of 2018 (known more widely as the Farm Bill), former Food And Drug Administration commissioner Scott Gottlieb issued a statement clarifying that while the bill removes hemp from the controlled substance list, CBD products still have to be regulated through the FDA.
At the moment, many of the health benefit claims, packaging types, and advertising methods for CBD products are unverified and may end up being banned.
The FDA held a hearing last Friday to receive testimony from industry experts and concerned citizens groups as the organization mulls what regulations will look like for an industry already widely selling products. 400 different companies and organizations petitioned to speak at the hearing, with 120 eventually selected to make their voices heard.
While Gottlieb stepped down from his position as commissioner earlier this year, before leaving the role he signalled his support for CBD products to be sold legally, although he often criticized CBD-based pet products.
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