Coca-Cola has no plans to enter the CBD market with its products, dismissing rumors about the company selling beverages incorporated with hemp oil.

Kent Landers, Coca Cola spokesperson, said in an interview with FOX Business that the speculations are not valid. He reiterated that the beverage giant had no intention of joining the CBD craze as what they have stated several times.

The rumors have arisen after a Youtube video of a man popping open a can of Coca Cola and claiming that it is infused with cannabidiol oil, a cannabis leaf extract typically used to alleviate pain without causing a high. The video has since been deleted.

About the video

The Youtube user who made the video, “Gabor the Blind Guy”, claimed to the viewers that he got ahold of the product via his father who allegedly produced capping and bottling machines for several primary food and pharmaceutical companies.

He further stated that his father was contacted by Coca Cola Canada to develop a machine that would produce childproof caps for Coca Cola cans. The company is said to release a new line of products infused with cannabidiol extracts, which are considered as cannabis-based substances as declared by Gabor.

Coca Cola was supposedly looking into a collaboration with Aurora Cannabis, a Canada-based cannabis production company. The beverage powerhouse allegedly eyed the CBD market since it grew in demand, as reported by Bloomberg last September of 2018.

Warren Buffet and Charlie Munger, CEO and Vice-Chair of Berkshire Hathway, respectively, indicated that Coca Cola joining the marijuana industry would not be right. In an interview with FOX Business Liz Claman, the experts said that entering the CBD market will be detrimental to the wholesome image that the company has kept throughout years.

Munger stated during the Berkshire Hathway Annual Shareholders Meeting held in Omaha, Nebraska that going into the cannabis market is a massive mistake for the company. The company’s image does not align with cannabis and its related products.

James Quincey, Coca-Cola CEO, dispelled the speculation in October, declaring that the company does not plan to get into the CBD space at this stage.

More about CBD

Cannabidiol oil has gained significant popularity over the recent years because of the positive reception from users. CBD is now known as an almost magical remedy that cures or alleviates pain, sleeplessness, anxiety, and more. Users claim that CBD is useful in resolving a broad range of health conditions.

However, there is still no formal regulatory framework for CBD from the Food and Drug Administration or FDA, the regulating body that is supposed to safeguard consumers from fake and harmful products. Many advocates, cannabis groups and even members of the House have called on FDA to hasten the process of providing a clear set of guidelines for the use and sale of CBD products.

The only FDA-approved medication out in the market today is Epidiolex, a drug used as an adjunct treatment for intractable epilepsy. It means that other CBD products out in the market today cannot be advertised as medication or food supplements, which makes adds to the confusion regarding the legality of the industry and the products.

In a survey conducted by the Grocery Manufacturers Association, more than three-quarters of Americans have assumed that CBD products sold commercially are controlled by the Food and Drug Administration (FDA), which is mostly untrue.

Of the 2,056 respondents who joined the survey, 76% believed that CBD-based products were regulated by the FDA, while 16% of the respondents were doubtful as to the regulation of CBD by the FDA. The study marked around 92% of Americans who are still confused by CBD regulations or apparent lack thereof.

What the study revealed

According to the study, over 6 in 10 Americans or 62% of the respondents are aware of cannabidiol products, but most of them are mistaken or doubtful about the nature of CBD, its effects, and whether all CBD-containing products are safe for consumption.

The only cannabidiol-based product that FDA has approved is Epidiolex, a medicine derived from marijuana that is used for the treatment of specific seizure disorders. The FDA stated that more studies need to be conducted before they can hand the approval for CBD, whether mixed in cosmetics, food, or other products. That, despite topical and salves being openly marketed at big retailers such as Walgreens, CVS, and Kroger.

The popular assumption regarding CBD stems from the 2018 Farm Bill. It legalized industrial hemp, which is where cannabidiol is derived. Jeff Lawrence, Colorado Department of Public Health and Environment director of Environmental Health and Sustainability, stated that the federal approval granted to hemp made consumers assume that CBD products are now regulated and legal even if it’s not the case. The Farm Bill only approved fiber and seed products derived from industrial hemp, not CBD.

A look at CBD in Colorado

Cannabidiol has become a commodity over the years. Lawrence said that they had observed it in Colorado, where marijuana and other cannabis-derived products are somewhat progressive.

Lawrence added that Colorado made efforts to oversee CBD within the state. The Colorado Legislature allowed hemp and hemp-derived cannabidiol as a food and cosmetics additive since 2018.

States that legalized marijuana and have progressive industrial hemp laws like Oregon and Colorado have regulated CBD use. However, there were certain factors that prevented the FDA from researching about CBD easily until recently.

Before the Farm Bill, hemp was included in the federal list of controlled substances, along with heroin and THC-laden marijuana, which means that studies on CBD were undertaken by the Drug Enforcement Administration (DEA). However, now that hemp is legal, Lawrence believes that federal research on CBD will experience change.

Lawrence further stated that the FDA had little capacity to inspect CBD from a medical viewpoint. Now, the agency is still trying to understand what CBD really is.

FDA stance on CBD

Although the FDA still has much to do about CBD regulation, the agency stressed that the substance is still illegal as an additive to consumed products. However, the CBD industry is still booming despite it. The agency recently penned warning letters to fifteen CBD companies that use fake promotional claims on their products.

While the FDA is yet to issue official guidelines on CBD regulations, consumers are responsible for choosing which CBD products to buy and use, and conduct a self-research on how such products may affect them. It includes inspecting the product label, third-part lab test procedures, and the company’s reputation.

Some reports have shown that several products could have more or less of their advertised THC or CBD content.

Lawrence believes that CBD-based product testing is a crucial issue to be handled by the CDPHE and the Governor’s administration. He stated that the emerging industry could have companies that only look to cash in on the craze. The department is set on ensuring that CBD products are clearly labeled, hemp-derived, and contain the right dosage.

He also hopes that this CBD growth will encourage Colorado state departments to create new regulations. He sees the need for the alignment of benefits concerning the agricultural crop, whether in Colorado or other parts of the country.

In recent years, cannabidiol has become very popular in the wellness industry, with lifestyle and beauty brands highlighting its therapeutic benefits for many health conditions. Many products today are incorporated with CBD, from serums to drinks.

The Duchess of Cornwall revealed on her visit to the Swiss Cottage Farmer’s Market that she has heard ‘fantastic’ testaments about CBD, surprising the audience during her talk.

A visit to the market

Camilla visited the market with the Prince of Wales to celebrate their 20^th year. She tried CBD hemp oil by putting some on a piece of bread. She exclaimed that the oil was ‘wonderful.’ Hemp oil is extracted from the seeds of a cannabis plant.

The Duchess told Sophia Lysaczenko, owner of Hempen stall where the oil came from, that she has spoken to individuals suffering from severe maladies like epilepsy who have tried CBD and greatly benefited from it. She described the oil as fantastic since it is helping many people overcome ailments.

In her Evening Standard interview, Lysaczenko stated that the Duchess was knowledgeable about CBD. She noted how on-board Camilla was about the cannabis-derived substance.

Besides trying the hemp oil, the Duchess also sampled some products around the market, including caviar and cheese from some of the stalls. They were also entertained by performers from the Royal Central School of Speech and Drama with a flash mob presentation of Oliver.

CBD in the UK

Cannabidiol has gained quite the exposure due to it being closely related to marijuana—both come from Cannabis sativa L. species. The difference is that CBD does not cause psychoactive effects that users experience when trying marijuana.

Today, CBD is known as a natural remedy for many health conditions, such as chronic pain, epilepsy, and PTSD. However, most of these therapeutic claims are mostly unfounded.

CBD is legal in the UK as long as it is derived from industrial hemp duly approved by EU standards. It should not contain THC to be allowed for sale and use in the UK.

The only exemption is the NHS-recognized Sativex, a CBD-based drug for multiple sclerosis that contains both CBD and THC. The NHS has recently implemented it into the healthcare system along with another CBD-containing medication for intractable epilepsy, Epidyolex.

Now that the NHS has allowed CBD-infused medication into the system, advocates are hopeful that other CBD products will gain more acceptance from the buying public and the government. Experts are also pushing for more research on CBD to gain concrete evidence about its efficacy.

The UK, like the rest of the world, is still struggling to regulate CBD products as of now due to it being a relatively novel discovery. As more people try it, the CBD market expands as well, which ultimately leads to the issue of sorting through what is real and what is not.