Curaleaf Tells FDA It Has Addressed Issues in Warning Letter
PATRICIA DE MELO MOREIRA/AFP/Getty
Cannabis company Curaleaf (CURLF) responded to the Food and Drug Administration, saying it has addressed the issues the FDA brought up in a warning letter regarding its cannabidiol product marketing.
The Wakefield, Mass., company said that after it received the letter, it immediately began an extensive review of its website and social-media platforms to remove the statements that ran afoul of FDA rules.
"Our industry needs, wants and appreciates the work the FDA is doing to ensure there is regulation and compliance in the CBD marketplace," said CEO Joseph Lusardi.
"We care deeply about our customers and making a difference in our industry. Curaleaf is committed to being an ethical and responsible company and working with the FDA to be a leader in our industry."
On Tuesday, the FDA issued a warning letter to Curaleaf, saying the company has been "marketing unapproved cannabidiol products with unsubstantiated claims to treat cancer, Alzheimer's disease, opioid withdrawal, pain and pet anxiety."
Curaleaf shares finished up 5.3% at $7.85 in trading Friday.
Cannabidiol is a key active ingredient within marijuana. It is derived from hemp, a related plant. CBD by itself creates no high from consumption.
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