Site will offer CBD education and product marketing.
To help educate community pharmacists on the growing cannabidiol (CBD) market, NCPA has launched an online resource featuring verified products and information about the CBD industry.
NCPA and pharmacy compliance and brokerage firm PRS are teaming up on the NCPA CBD Source, an “easy-to-navigate website providing pharmacies with answers they may need to make educated decisions about the growing CBD marketplace,” says NCPA in a statement.
The U.S. CBD industry, which is expected to reach $22 billion by 2024, is dominated by major chains such as CVS and Walgreens, says a recent report by The Brightfield Group.
“Many pharmacies are deciding to sell CBD products because of the patient demand and because, as the medication expert, they can serve as the source of truth,” says NCPA CEO B. Douglas Hoey, RPh. “Pharmacy owners want to be able to answer their patients’ questions and recommend products where they can check their certificate of analysis. The new CBD Source goes a step further and will be sending product samples to an independent lab to verify strength and product integrity.”
“We believe that the community pharmacist should also be the community's CBD expert. CBD belongs in a pharmacy, but the industry is young and full of misinformation,” says PRS President Harry Lattanzio, RPh. “PRS and NCPA have combined resources, done the research, and sifted through the claims to create a comprehensive platform that community pharmacists can trust for CBD education, marketing, and products.”
The NCPA CBD Source, powered by PRS, will function much like any other online shopping site, but with resources for pharmacist CBD education and marketing tools and with products researched by NCPA and PRS.
Pharmacists can evaluate each company included in the program and review the products they are offering, NCPA says. Samples of products on the site will be tested for concentrations of all cannabinoids, including CBD and THC, by an independent, third-party lab.
“While the NCPA CBD Source will include experts who pharmacists may call and ask about buying, selling, and marketing, pharmacists are also encouraged to familiarize themselves with local, state, and federal laws governing the sale of CBD products,” NCPA says.