DEERFIELD, Ill. — Walgreens will sell CBD products in nearly 1,500 stores in nine states, CSP has learned. This move comes days after CVS Health Corp.—one of Walgreens' biggest competitors—debuted CBD products in eight states.
Walgreens will stock various CBD-infused creams, patches and sprays in Oregon, Colorado, New Mexico, Kentucky, Tennessee, Vermont, South Carolina, Illinois and Indiana. The Deerfield, Ill.-based drugstore chain did not specify any brands or when these items will hit shelves.
“This product offering is in line with our efforts to provide a wider range of accessible health and well-being products and services to best meet the needs and preferences of our customers,” a spokesperson for Walgreens, told CSP Daily News.
In late 2018, the U.S. Farm Bill essentially legalized products made from hemp that contain CBD oils so long as they have less than 0.3% tetrahydrocannabinol (THC), the psychoactive chemical in marijuana.
CBD has enjoyed rapid market growth due to its alleged medicinal qualities, and the product category is expected to reach $5 billion in sales by 2027, according to CBD research firm New Frontier Data, Washington, D.C.; however, there are still plenty of questions regarding its safety and legality, causing concern and hesitation among retailers to get involved.
Walgreens Boots Alliance has more than 13,200 stores in 11 countries. The company's portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as health and beauty product brands such as No7, Botanics, Liz Earle and Soap & Glory.