Canopy Growth CEO says Farm Bill passage is ‘first step‘ toward US expansion

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Just in from Parker City News:

The “Farm Bill is the first step to active” involvement in the U.S. by Canopy Growth, CEO Bruce Linton told CNBC Wednesday. ” The world‘s changing: This is the first step in the U.S. to manage cannabinoids.”

The $867 billion bill includes a provision for industrial hemp legalization that Senate Majority Leader Mitch McConnell, R-Ky., had introduced. The bill was passed by the U.S. Senate on Tuesday and the House of Representatives on Wednesday, sending it to President Donald Trump‘s desk for signature.

Canopy recently bought Colorado-based hemp researcher, Ebbu, which specializes in the purification and study of cannabinoids for product development It also uses patented plant genetics to maximize cannabinoid output by “boosting in-plant cannabinoid production and creating rare-cannabinoid-specific plants.”

The Farm Bill also includes a provision that preserves the Food and Drug Administration‘s regulatory authority, meaning it‘s still illegal to add THC and CBD to food products. Currently, food products aren‘t allowed to include active ingredients that have been approved as drug products or are involved in clinical research. However, this regulation applies only to products that are introduced in interstate commerce.

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