After federal regulators warned cannabis giant Curaleaf last week against making unsubstantiated medical claims for its CBD products, the company has taken action.
The Massachusetts cannabis company removed its blog and deleted social media posts and articles on its website saying its products can be used to treat medical conditions such as cancer, Alzheimer’s disease, chronic pain, anxiety and more.
In response to the warning letter from the U.S. Food and Drug Administration (FDA), Curaleaf said in a news release that it “immediately began an extensive review of its website and social media platforms to remove all statements that FDA identified as noncompliant.”
Curaleaf also said it had informed the agency that “a number of the products” the FDA mentioned in its letter had been discontinued before Curaleaf received the letter.
The company said it would continue to ensure the information it provides to the public remains FDA-compliant.
“Our industry needs, wants and appreciates the work the FDA is doing to ensure there is regulation and compliance in the CBD marketplace,” Curaleaf CEO Joseph Lusardi said in a statement.
After Curaleaf was chided by health authorities, drugstore chain CVS Health announced it would drop some of the company’s products.
Still, investors largely shrugged off the FDA warning and the CVS response, with Curaleaf’s stock stumbling but recovering by week’s end and Wall Street analysts predicting little long-term damage to the company’s brand.
The warning letter came two days before the agency testified before the U.S. Senate that CBD isn’t backed by adequate scientific review to allow sales without a prescription.
