The FDA vs CBD
In April of this year, the very first CBD-based medication called Epidiolex was approved by the FDA. Many were curious as to how an FDA approval would impact the scheduling of hemp, which is a Schedule 1 controlled substance. The approval of Epidiolex is just the beginning and will challenge the DEA to the scheduling of the underlying plant from which CBD is derived from or CBD its self. GW Pharma expects that if the drug gets approved it will be a schedule 4 which many pain and sleep medications are scheduled under.
CBD products are booming right now and it is estimated that by 2021 CBD sales will rise from 5% to 21% and this doesn't include the pharmaceutical channel that is bound to open up with the approval of Epidiolex. In 2017, the sales total of CBD was $288 million grew 65% and it is predicted to grow 76% in 2018 to $505 million and is estimated that the country's total CBD sales will increase to $1.9 billion in the next five years. Epidiolex, if approved will be indicated only for patients suffering from LGS or Dravet Syndrome although, doctors will be able to
prescribe it to treat other indications too. One of the major advantages of Epidiolex is that it will likely be covered by insurance companies which is a huge advantage over other herbal medicinal routes. The expected annual cost of Epidiolex is $30,000 or more.
The approval of Epidiolex could have some pretty big implications, it isn't required for CBD to be rescheduled for it to be approved and then marketed by GW Pharma, the FDA approval of a CBD product could play a part in the rescheduling of CBD in the future. The fact that the FDA is even looking at CBD products is huge progress for our country, as more states start to legalize and decriminalize the stigma around CBD products will eventually fade into nothing and CBD
will become a regular part of our day to day lives.