This is the fifth and final installment of our 5 part Series on the Great CBD Debate. You can go back and read any of the previous installments like The Classification of CBD, The Legality of CBD, The Benefits of CBD, or The Supplement Category of CBD and what it means to you if you would like. In this article I want to talk about the financial side of CBD.
**DISCLAIMER: this is not to be used as legal advice. I am not a lawyer, consult with one if you feel the need before buying or selling CBD products in your state.**
Is it About the Money?
The conspiracy theorist in me feels that the non-legalization of CBD is far more sinister. On April 18, 2018, Matthew Perrone wrote an article titled US experts back marijuana-based drug for childhood seizures for APnews.com. "A medicine made from the marijuana plant moved one step closer to U.S. approval Thursday after federal health advisers endorsed it for the treatment of severe seizures in children with epilepsy. If the Food and Drug Administration follows the group’s recommendation, GW Pharmaceuticals’ syrup would become the first drug derived from the cannabis plant to win federal approval in the U.S." The drug is called Epidiolex. ONE of the side effects is liver damage, no one knows what else at this point. Also, the cost could be $25,000 per year to be on it. WHOA! Natural CBD is generally under $200 a month which translates to be around $2,400 per year. Quite the difference. Plus it doesn't damage your liver!
Since he wrote that article, Epidiolex was approved for use. That medication comes from CBD extracted from the hemp plant with other added ingredients. Yet, CBD in its original form from the plant is still technically illegal in many states (as of the writing of this article).
Why do we need a synthetic DRUG, meaning it has side effects, when the pure, unadulterated plant is far more effective and easier to get with little to no side effects? Is it because the hemp industry is projected to become a $1.8 billion "concern" in the next 2 years according to the recent Natural Products Expo West - CBD summit?! CBD in its natural state cannot be patented, certain strains may be able to but not the whole industry. Follow the money. It seems to be always about the money.
According to Forbes Magazine, in an article dated December 12, 2016, The Cannabis Market That Could Grow 700% By 2020. "The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year." That is a HUGE number. Of course everyone wants a piece of the pie.
I am not saying that legalization is about the money. With what I have been researching and read, it sure looks like a viable reason as to why everyone can't have access to it. What are your thoughts on this? Please comment below.
I have CBD back on my website, along with other products you can buy from my supplier. Rest assured I use these products and know they are what they say they are. They have helps so many people, I am just happy to be able to sell it again. Should you have any questions, please send me an email at email@example.com. Have a wonderful day.
Love and light!
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