U.S. cannabis retailer Curaleaf Holdings Inc. said late Wednesday that it has inked a deal with CVS Health Corp. to carry its line of cannabidiol, or CBD,...
CVS Health Corp. is selling products with a derivative of marijuana, the drugstore chain said Wednesday evening, despite continuing questions about legality.
“We have partnered with CBD product manufacturers that are complying with applicable laws and that meet CVS’s high standards for quality,” a spokesman said in the email. Executives on Curaleaf’s earnings conference call said CVS would begin to carry its Curaleaf Hemp lotions and transdermal patches — which include items with cannabidiol, commonly known as CBD — in about 800 stores across 10 U.S. states. Chief Executive Joe Lusardi said Wednesday that the products would be available in stores by Friday and through the CVS website “soon.”
Curaleaf on Wednesday reported widening net losses, while growing revenue more than 400%. The company reported fourth-quarter net losses of $16.5 million, or 4 cents a share, compared with profits of $624,000, or zero cents a share in the year-ago quarter. Revenue rose to $32 million from $6.3 million in the year-ago period, excluding revenue from managed entities.
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