Business

How Curaleaf is Changing the CBD Market

By Melena Gurganus

We’ve seen many changes to the hemp industry in the last year, including the federal legalization of hemp as an agricultural crop. Now, there are many questions surrounding the legality of hemp-derived CBD, and if there is a place for CBD products in the mainstream marketplace. One cannabis brand in particular, Curaleaf, has recently made headlines for its CBD topical products that are soon to be found on store shelves in the largest pharmacy store chain in America.

What is Curaleaf?

Curaleaf is a cannabis operator based out of Wakefield, Massachusetts, that is fully immersed in the integration of medicinal and wellness advantages that cannabis offers to patients. They are committed to their research and development, which has led to the formulation of many different application styles and cannabis-based therapeutic offerings. Curaleaf currently owns 43 dispensaries across the U.S. and has a presence in 12 states:

States

  • Arizona
  • Connecticut
  • Florida
  • Maine
  • Maryland
  • Massachusetts
  • Nevada
  • New Jersey
  • New York
  • Ohio
  • Oregon
  • Pennsylvania

Although, Curaleaf does more than focus on medical marijuana products. They also have a line of hemp-derived CBD tinctures, vape pens, and topicals that contain zero THC and are more widely available across the United States.

Why Curaleaf is an Important CBD Brand

Curaleaf has had a notable amount of success in its cannabis endeavors, considering their fourth-quarter revenue totaled $32 million and full-year sales exceeded $70 million. Yet aside from the company’s successful medical cannabis products and dispensaries, Curaleaf Hemp has also turned out to be a beneficial venture for both the brand and consumers as a whole. They have recently shared news of a deal with CVS Health, who will begin selling Curaleaf CBD lotions and transdermal patches in 800 stores across eight states, including:

States

  • Alabama
  • California
  • Colorado
  • Illinois
  • Indiana
  • Kentucky
  • Maryland
  • Tennessee

Following the recent buzz surrounding the unveil of CBD products in a mainstream marketplace like CVS, another industry leading pharmacy store chain announced they would also be selling CBD. Walgreens shared that they too would feature CBD products in 1,500 of their locations, although they have yet to reveal which brand they will be stocking on store shelves.

What This Means for the Future of CBD

As more people learn about the potential benefits of CBD, we’ve seen a huge increase in consumer demand for CBD products and alternative natural health options. Because of this, prominent health and wellness companies like CVS and Walgreens have taken notice and want to meet the needs of their customers. The CEO of Curaleaf, Joseph Lusardi, also weighed in on the topic and noted, “All large retailers are figuring out their hemp strategy and will address that in 2019 because there is such a huge product demand.” And while CBD products have not yet been evaluated by the FDA, it would appear that the legality of lotions, creams, and other topicals infused with CBD is far less daunting than distributing a CBD dietary supplement or edible.

Although for some people, they may feel skeptical of the effects of CBD given all the recent hype. But as more mainstream channels adopt CBD as an alternative source of relief, the stigmas associated with hemp-derived CBD will continue to dwindle.

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