The US Food and Drug Administration has issued a warning to CBD company Curaleaf for making health claims unsupported by any evidence. Curaleaf is a US-based medical cannabis company. The company’s share closed more than 7% lower after it received the warning letter by the FDA.
The company has reportedly promoted some of its cannabidiol (CBD) products by hailing them to have medicinal properties that can treat certain health conditions such as cancer and Parkinson’s disease. Although CBD, a substance found in marijuana and hemp, does have some medicinal values, FDA called its claim of treating cancer and Parkinson’s as “unsubstantiated” hence dangerous for patients. CBD should not be confused with tetrahydrocannabinol, or THC, which is the primary psychoactive component present in cannabis.
Acting FDA Commissioner Ned Sharpless wrote in the warning letter that “Selling unapproved products with unsubstantiated therapeutic claims — such as claims that CBD products can treat serious diseases and conditions — can put patients and consumers at risk by leading them to put off important medical care.” The letter also pointed at some of the health risks that CBD possesses. A number of products that contain CBD haven’t been verified for their effectiveness and safety, hence remain unapproved. It cited some of the marketing tactics that the company has used on its social media accounts.
The FDA provided the company a deadline of 15 days within which it is to come clear of the violations that it has made or back their products on the substantial ground that prove that there haven’t been any violations made. The company has responded in a statement made on Tuesday that their legal counsel is reviewing the letter and they will issue a reply within the allotted time. They reassured about the safety of the products sold by them which they said are derived from hemp.