CVS Health Corporation is one of the world’s largest retail pharmacies and health care companies with over $180 billion in annual revenue. It was only a matter of time before the corporate giant got involved in CBD, and it now stocks CBD topicals in at least eight of its American stores.
Jumping on the CBD Bandwagon
CVS selling CBD products is a great example of how popular the industry has become in a few short years.
In many ways, it is not a surprise that major pharmacies are getting involved in CBD. At the end of 2018, the Farm Bill made it legal for Americans to grow and sell industrial hemp. Since CBD can be extracted from hemp, it is easier than ever for suppliers to get hold of premium-grade cannabidiol. The CBD market itself could be worth as much as $22 billion within three years. CVS has joined other renowned health and beauty companies such as DSW, Free People, Authentic Brands Group, Neiman Marcus, and Sephora, all of whom have become involved in CBD.
The pharmacy chain said the available products include topicals such as creams, sprays and lotions, but will not sell any CBD-containing supplements or food additives.
Cannabidiol, or CBD, is the non-psychoactive element in marijuana.
CVS said the products comply with applicable laws.
BALTIMORE (WJZ/CNN) — CVS is selling some cannabis-based products in eight states, including Maryland. The other states are Alabama, California, Colorado, Illinois, Indiana, Kentucky and Tennessee.
Several companies have been adding the non-psychoactive cannabis compound to food, beverages and skin care products.