Federal regulators have called for better data on each aspect of the new hemp industry as they establish formal standards and systems. This market is evolving rapidly, and in order to continue driving innovation in our operations, it is imperative we analyze every data set available to us — from plants to products. Whether it is agricultural practices, product compliance, or product efficacy, data-driven standards are required to instill consumer confidence.
It is for these reasons, as well as a shared ethos and value system, that we partnered with ValidCare to measure the benefits of CBD products globally. This model gives us the ability to derive real-time insights from patients and consumers, enabling a better understanding of the benefits of CBD. Building this foundational data set for consumer behavior with hemp-derived CBD products allows for more nuanced insight into products and markets, but also creates a hub for education and the advancement of scientific and commercial efforts.
The call for legitimate market data is not just from CBD brands and users, it is a necessity for the federal regulatory decision making process regarding the legality of hemp-derived products. As a consumer protection agency tasked with protecting and promoting public health, it is imperative the U.S. Food and Drug Administration (FDA) glean insight and direction from real user data, not theory and sales figures. FDA Principal Associate Commissioner for Policy, Lowell Schiller, recently addressed this need at the 2019 Hemp Business Summit:
The FDA clearly recognizes the public interest in hemp-derived products, particularly CBD. As this industry is new, there are unanswered questions about the safety and quality of CBD products on shelves. The lack of clarity in the CBD marketplace on product efficacy has created a scenario allowing bad actors to take advantage of consumers. The FDA is working to answer these concerns and establish formal regulations with input from the public and anecdotal data.
Strategic alliance is a core principle of ours, which is why we collaborate with the world's best and brightest across industries and business sectors to deepen our industry acumen and expand our thought leadership. While our farming, science and compliance efforts are well known, it is our commitment to innovation in the arterial aspects of the hemp industry like data analysis and technology integration that defines our leadership position in the space.
Together with ValidCare, we’re paving the path forward by providing insights on the efficacy of CBD to the millions of people who need it.
Learn more about ValidCare and their app CBD+Me, visit ValidCare.com.