Today, Beckham-backed wellness company Cellular Goods was forced to shame when it admitted its CBD products may have to be recalled under new regulations, just a few days away. days after the declaration of compliance.
In a trading update following discussions with the Food Standards Agency, the company said: “Cellular Goods is currently reviewing its position pending advice from corporate advisors and also is seeking further clarification on the FSA’s position.”
On Monday, the company said its range of edible CBD products “meets FSA guidelines”. It is understood that Mobile Goods approached the FSA for more clarity, resulting in the new statement.
This confusion follows newly issued guidance on edible CBD products.
CBD is a chemical compound found in the cannabis plant, which can be extracted or synthetically created and used for a relaxing effect. It has recently gained popularity as an ingredient in dietary supplements, beverages, and beauty products. It has no neurological properties.
CBD products sold after February 2020 in the UK may not be marketed without prior authorization.
No Cellular Goods’ products are included in the recently published FSA list of approved items. The products in question are manufactured by Channelle McCoy Health (CMH) supplier, whose product has been approved.
Initially, the company argued that its CBD product range was compliant “because it is not a ‘new product’ to market and all details required by the FSA are the same as for CMH products. verified to be on the FSA list.”
Cellular Goods nasal sprays, oral pills and capsules are affected by the new rules, but do not affect its skincare range.
“An important part of any new CBD food application is considering product safety,” the FSA said.
Beckham, holds a 5% stake in £656,000 worth of Cellular Goods through his investment firm DB.
Shares of Cellular Goods fell 4.6% in early trading.