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Wednesday, May 18, 2022

Number of CBD products pre-approved in UK balloons to nearly 6000

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An additional 2,445 CBD products have been initially approved by the UK Food Standards Agency (FSA), bringing the total number of products that still have a chance of being fully licensed to nearly 6000.

The FSA added products yesterday in response to a Fuss about the approval system that followed the March 31 release of an original list of 3,536 products that applied in the agency’s system to certify new or “new” foods.

FSA last week Reopen the window For companies to apply for a license for CBD products amid questions about the credibility of the certification process. Those still absent from the updated list still have until May 26 to apply. The original application deadline was more than a year ago, March 31, 2021.

Appearance of 170 new companies

Nearly 170 newly listed related companies have 2,445 products added this week. Some companies provided the products independently while others were part of joint orders by multiple companies; Most were related to products that were initially approved and placed on the original FSA list on March 31, 2022, according to the Financial Services Authority.

“More than 1,700 new products added to the list relate to applications that were submitted to the Financial Services Authority before the March 31 (2021) deadline, but require further evidence from companies to ensure products meet public list criteria before they are added,” the FSA said in a statement. “About 700 products have been added to correct a clerical error,” the agency added.

Eight of the 23 products sold at major retailers were sold out failed to do The original FSA list released last month has been added as a result of yesterday’s update. They are: Body and Mind, CBDfx, Drink 420, Holistic Herb, KIKI, Simplee, The Leaf Life, and Vita Coco.

These products, which were added via the latest update, and any products accepted between now and May 26 that meet other FSA criteria will be allowed to remain in the market pending progress in their applications, the FSA said.

Current total: 5,981 products

The FSA operation aims to illustrate a thriving gray market that has seen thousands of CBD products appear in retail outlets over the past several years. To qualify, products under distribution must have been on the market prior to February 13, 2020 under Financial Services Authority guidelines. Those who were introduced to the market after this date were not eligible for agency consideration.

In total, 543 companies associate with 5,981 products on the FSA’s list, according to this week’s update. All but a few of these companies are listed as “pending evidence” in the second stage of the agency’s three-stage approval process and may still be for sale while their applications continue to be in the FSA system.

EIHA numbers rise

EIHA Projects GmbH, the CBD consortium regulated by the European Industrial Hemp Association, saw the total number of products within two applications, for isolate And full spectrum From 1.992 to 3194 with the release of the updated FSA list – or roughly 53% of all products now with initial approval.

A second association affiliated with the Cannabis Industry Association (ACI) said its 18 members account for 2,106 products – about 35% – on the list.

“We urge any CBD businesses that have evidence that they have linking their products to reliable applications to send it to us as soon as possible, but no later than May 26, 2022 for consideration. We will not accept evidence of this,” said Rebecca Sudworth, director of policy for the Financial Services Authority. Inclusion of products in the public list after this date.

The agency indicated that it will continue to update the public list until June 30.

Nothing is final

The FSA stressed that the approvals granted so far are preliminary and that some products can be canceled while in transit during the agency’s review. Companies whose products are initially approved for the next stage of the certification process are required to submit toxicology and other studies. Evidence that these reports were commissioned must also be provided before May 26.

The UK market for CBD products was estimated It could be worth 690 million pounds (~814.5 million euros; ~905.7 million dollars) in 2021, according to the ACI, which said this would make the UK the second largest CBD consumer market in the world after the USA.

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