CVS (NYSE:CVS) announced that it will soon start selling CBD products in 800 stores and eight states.
Source: Mike Mozart via Flickr
CBD refers to cannabidiol, which is a hemp-based product that is part of the cannabis family, but differs from marijuana as the latter has TCH, which is the psychoactive chemical in the plant. Meanwhile, CBD is not psychoactive, meaning it does not incapacitate it users and may have medicinal benefits.
CVS said Wednesday that it will start selling CBD products, including creams, sprays and roll-ons, which will serve as “an alternative source of relief.” Some believe the substance helps with anxiety, pain, inflammation and cancer, although the research to back up this claims is anecdotal–the only FDA-backed CBD oil helps with seizures for severe forms of epilepsy.
“We are carrying hemp-derived CBD products in select states to help meet consumer demand for alternative care options,” said CVS Health Spokesperson, Mike DeAngelis. The company will partner up with a company to test the quality of the CBD products available in its drug stores.
Only consumers in the states of Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee will have access to these products at their local CVS locations at first. Claims surrounding how effective these CVS CBD products are will vary from item to item.
CVS stock is down about 1.6% on Friday following the news.
More From InvestorPlace
- 5 Cloud Stocks to Help Your Portfolio Fly
- 10 Stocks on the Rise Heading Into the Second Quarter
- 7 Beaten-Up Stocks to Buy as They Reverse Course
The post CVS to Sell CBD Products in 800 Stores — What and Where? appeared first on InvestorPlace.