Private CBD maker British Cannabis is so far the leader in CBD sweepstakes in the UK after a total of 310 products linked to the company were recently developed by regulators, an analysis of a list released earlier this month by the Food Standards Agency shows (FSA).
The Berkshire-based company received initial approval for 75 products submitted independently, and 235 submitted jointly with other companies. A total of 3,536 products have been initially approved by the FSA as new or “new” foods, according to the The list, released on April 1.
RX Pharmatech Ltd. has experienced Bradford, West Yorkshire, which has ties to US hemp interests, has 273 related products, the second highest total. RX Pharmatech provided 116 products independently and 157 together with two others.
The UK market for CBD consumer products was estimated It would be worth £690 million (~€814.5 million; ~$905.7 million) in 2021, according to the Association of the Cannabis Industry (ACI). The ACI said that from 2019 to 2021, sales of CBD in the UK doubled, making the non-EU country the second largest consumer market in the world after the USA.
Overall, 374 companies have seen products developed by the FSA. Some companies submitted applications independently; Some were submitted only as participants in joint applications with other producers, and some were filed independently as well as jointly. The products were featured in a total of 70 CBD applications filed with the Financial Services Authority.
While those products that made the list may still be for sale, those that fail FSA scrutiny are not compliant and should be removed from the market. The Financial Services Authority has stressed that approvals are preliminary and that some products can be canceled at later stages of their review.
Most products have been submitted to pre-validation (“pending evidence”) status, the second stage of the FSA’s new food approval process. There are now 57 products from five companies in the final stage of the process and awaits a final decision from the Financial Services Authority on the full authorization.
Searching for clarity
The FSA’s new food approval process aims, first and foremost, to illustrate the burgeoning gray market that has seen thousands of CBD products appear in retail outlets over the past several years. To qualify for agency consideration, those products in distribution must have been on the market before February 13, 2020, under Financial Services Authority guidelines. Any products submitted after this date were not eligible for consideration.
It is assumed that British hemp products came through a consortium organized by the ACI, of which it is a member according to the association’s website. The ACI said this week that it was still analyzing the FSA’s listing and declined to disclose information about the total number of products that came through its consortium or the companies or order numbers (FPs) they submitted. However, at least 628 ACI-listed products as members – including British hemp products – were among the advanced products.
RX Pharmatech’s products were offered by a separate consortium of the European Industrial Hemp Association (EIHA) that saw 1,992 CBD products initially approved, representing approximately 56% of the total number submitted.
Products offered through this consortium, EIHA Projects GmbH, came from 193 companies that are included in two EIHA applications covering isolates (1157) and full-spectrum extracts (835).
* Jointly provided by LVWell CBD, Essican Pure Life, Pure Life UK and Pure Life Natural Oil Ltd; Offer the same products Like Both FS and Isolates.
** Now known as Goodbody Health Inc.
* Jointly provided by LVWell CBD, Essican Pure Life, Pure Life UK and Pure Life Natural Oil Ltd; Offered the same products as FS and Isolates.
The most important companies at a glance
Of a total of 374 companies tied for the full list of 3,536 products that applied on April 1, here’s a look at the top five based on the number of products each FSA approved, according to company websites and other public information:
Founded in 2015, British Hemp is an independently owned and vertically integrated producer of marijuana, CBD and other hemp products. The company manufactures its own branded products and supplies other brands on a white label basis. British hemp has its own laboratory, manufacturing facility, warehouses and dispatches, and maintains a cannabis research farm in Portugal. The company claims to have shipped more than 50,000 bottles of CBD oils in the first half of 2021, between just two of its largest white label customers, unknown, but referred to as “two of the most popular brands in the industry.” British Cannabis announced in September 2021 that it was investing in a new facility that includes an ISO-certified testing lab (British Cannabis Analytics) and a new cosmetic line – giving it the ability to triple its capacity. It operates one of the 35 testing laboratories that make up the British government’s “Circular Chemist Experiment” assessment to measure the CBD and cannabinoid content in commercial products.
Associated Managers: Thomas Witt, CEO and Founder; David Ralston, Managing Director
RX Pharmatech Ltd.
Very little general information is available for RX Pharmatech Ltd. , which does not seem to have a website. Other sources indicate that the company was incorporated in May 2016. RX Pharmatech is a supplier of isolates and bulk distillates produced by partners GVB Biopharma, Las Vegas, Nevada, USA. In addition to RX Pharmatech being party to the second largest number of products on the FSA list, GVB has claimed in press release On April 7, 2022, it became the largest supplier on the list to producers of white label formulations for oral tinctures, vaping and edible liquids, capsules and cosmetics. JVB said it sourced the raw materials from the US Farmers Cooperative. According to the GVB website, the company has a UK office in Doncaster, Yorkshire, England. GVB has one investor: Decathlon Capital Partners, a growth equity firm based in Park City, Utah. GVB also claims to have operations in Europe (location not specified), and in Bogota, Colombia. GVB Biopharma has joined Medicaleaf Ltd. and Cheltenham, Gloucestershire, and Isomist Ltd. , London to submit three products for FSA approval outside its relationship with RX Pharmatech. GVB Biopharma is reported to be In a strategic relationship with Sonder Fulfillment, a division of Golden Triangle Ventures, based in Las Vegas penny stock operator or operator.
Related principles: RX Pharmatech Ltd. – Dominic James Bartle, director; Damian Jonathan Bove, Director. GVB Biopharma – Philip Swindells, CEO and Co-Founder; Jack Feldman, President and Co-Founder; Hugh Kinsman, Chief Financial Officer.
Mile High Labs
Colorado-based, Broomfield-based Mile High Labs is a supplier of CBD, CBN, CBG, and other cannabinoids. Mile High reported in 2019 that it raised a total of $100 million in funding through two rounds, the latest on April 12, 2019, including $65 million in debt financing from MGG Investment Group, New York (2019). Mile High operates an extraction facility with raw materials sourced from a network of contracted CBD hemp growers in the USA. According to its website, the company also has an office in Belfast, Northern Ireland.
Associated Managers: Jonathan Healy, CEO; Ryan Keeler, Director of Operations; Jodi Gatica, Vice President of Quality; Danny Moses, investor.
Taylor Mamoon Ltd.
Taylor Mammon Ltd. is known as Itself as a white label manufacturer and distributor of CBD based in Welwyn Garden City, Hertfordshire. The company operates under the direction of parent company GenCanna based in Kentucky, USA, also known as OGGUSA Inc. Famous GenCanna in 2020, when filed for bankruptcy Amid a flurry of lawsuits from creditors who at the time claimed the company owed them anywhere between $100 million and $500 million. A bankruptcy court approved the sale of most of GenCanna’s assets in May 2020 to MGG Investment Group, New York, a direct private lender and one of GenCanna’s creditors. GenCanna bought Taylor Mammon and UK-based CBD Capital last year.
Associated principals: Taylor Mamon – Alex Taylor, Co-Founder; James Taylor, Chief Commercial Officer; Nathan Waughman, co-founder and general manager. GenCanna / OGGUSA Inc. – Andrew Barnett, CEO; Hassan Akhtar, Managing Director, Europe.
Sativa Wellness Collection
It is now known as Goodbody Health Inc, but after placing its new orders for foods under Sativa Wellness, the Canada-based company is OTC Traded manufacturer of nearly 20 CBD products – oils, capsules, gums and cosmetics sold online and in bulk, with CBD testing laboratories in the UK and Poland. Goodbody/Sativa Wellness is headquartered in Vancouver, British Columbia, and also has an office in Beckington, Somerset, England. The company posted a loss of nearly $6.5m (£5m) in 2020, the last year for which public financial reports are available. Shares on Goodbody are currently trading at around $0.05 (5 cents). Goodbody’s PhytoVista Laboratories in the UK was granted a license for a controlled drug this month (April 2022).
Associated Managers: (Goodbody Health Inc): Jeremy Thomas, Founder and CEO; Mark Howells, CEO; Ann Teo, Chief Financial Officer and Company Secretary.