The Food and Drug Administration has approved one drug that contains CBD for the treatment of some seizures, but CBD largely remains federally prohibited. The regulatory environment for CBD remains in flux, though. The CBD derived from hemp has extremely low levels of THC, the component of marijuana that gets you high. That will allow it to develop products that contain CBD, the non-psychoactive compound that some say helps reduce anxiety and stress. The company announced last month that it received a license from New York state - where Constellation Brands is based - to process and produce hemp. Martha Stewart will advise Canadian cannabis company Canopy Growth about CBD and hemp products. Canopy Growth’s stock rose 4%.Ĭanopy Growth decided to make a big bet on hemp and CBD products following the passage of the farm bill in the United States at the end of last year, which legalized hemp production. Shares of Sequential Brands Group, which also owns the Franklin Mint, the Jessica Simpson clothing brand and an Emeril Lagasse line of cookware, surged more than 30% on the Martha Stewart news - albeit to just under $1.60 a share. “Martha is one of a kind and I am so excited to be able to work alongside this icon to sharpen our CBD product offerings.” “As soon as you hear the name Martha, you know exactly who we’re talking about,” said Canopy Growth co-CEO Bruce Linton. (SQBG), the consumer company that bought Martha Stewart Living Omnimedia in 2015. (STZ), announced the deal Thursday with Sequential Brands Group The pair’s first project will offer “sensible products for people’s beloved pets,” Stewart added.Ĭanopy Growth, which is backed by a multi-billion dollar investment from Corona owner Constellation Brands “I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living,” Stewart said in a release. (CGC) as an adviser to help develop products derived from cannabis for people and animals. Stewart is joining the Canadian marijuana company Canopy Growth
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