Passage of the 2018 Farm Bill Opens Door to Nationwide Sales and Consumer Demand
MIAMI, FL, March 20, 2019 (GLOBE NEWSWIRE) -- Curative Biosciences, Inc., (CBDX) (“Curative”) announced today the Company is preparing to launch a line of full-spectrum hemp-derived CBD products and expansion into the growing CBD market.
Curative’s full-spectrum hemp extract will be the Company’s first CBD product to launch in the first quarter as the company has completed the final stage of development. The product is THC-free and offers a wide range of benefits such as calming the effects of pain and discomfort, inflammation, anxiety, and stress.
Curative has made a significant commitment to the rapidly growing hemp-derived CBD product industry. The hemp-derived CBD market according to a recent Brightfield Group report is projected to grow to $22 billion by 2022. The rapid growth will be supported by an anticipated explosion in distribution channels for these products in the next few years. Chain retailers are expected to enter the market beginning in 2019.
United States Senator Mitch McConnell has been a vocal advocate for Kentucky hemp farmers and showed continued support by adding important industrial hemp legalization language into the Farm Bill. Now that it has passed, the bill removes industrial hemp from the Controlled Substances Act and allow states to regulate the production, commerce and research of the plant. Industrial hemp refers to the cannabis plant containing less than 0.03% THC content. Hemp is used for a broad array of end products, from clothing and rope to construction materials and biofuels, and for CBD production.
“We expect to make a series of product and distribution announcements in 2019. The signing of the Farm Bill secured benefits for all Americans and it was an important factor when we set out to formulate these product solutions, said Katherine West, Curative’s Chief Operating Officer. The science is there, but people are just beginning to understand hemp-derived CBD and the important role it can play in our overall health and wellness.”
Hemp-derived CBD has been shown to be effective in treating a wide range of medical conditions, including sleep disorders, anxiety, certain types of epilepsy, arthritic and muscular pain, high blood pressure, and various skin conditions.
About Curative Biosciences, Inc.
Curative Biosciences (CBDX), is creating a new category in the health industry by translating advances in science and technology into effective, scientifically sound health products available to people in their everyday lives. We are developing a portfolio of products with compelling compounds found in nature that offer an opportunity for our customers to proactively support their health.
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