CVS Partners with Curaleaf to sell CBD products in over 800 stores. The announcement sent Curaleaf’s stock price soaring over 17% giving the company a market value of more than $2.6 billion.
Curaleaf announced the agreement during an earnings conference call on Wednesday. Curaleaf’s CBD products will be available in approximately 800 stores to start. The company hopes to expand to more stores.
CVS said in an emailed statement that it has already started to sell CBD products as of last week in eight states, California, Illinois, Colorado, Indiana, Illinois,
The Food and Drug Administration (FDA) has stated that CBD remains a drug ingredient and as a result is illegal to add to food and health products.
What do you make of the announcement? Is this a sign of things to come? Will bigger brands push out smaller businesses by the end of the year? Let us know your thoughts in the comments below.