Simsbury pot grower's parent to stock CVS with hemp-infused products

CVS Introduces CBD-Infused Topicals In 8 States

CVS Introduces CBD-Infused Topicals In 8 States

However, it appears Connecticut CVS stores may not be among those selling the Curaleaf hemp lotions, patches, tinctures and other products, at least initially.

Bloomberg reported that during the fourth-quarter earnings call, Curaleaf's management stated that CVS Health (CVS) will sell its CBD products from more than 800 CVS stores. Now it's finally happening, as CVS announced they'll soon offer topical products including creams, sprays, roll-ons, lotions and salves.

Products with CBD will be sold in 8 states across the US: Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee.

CVS Pharmacy is planning to sell cannabis-based products in eight states.

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"But we think this is something that customers are going to be looking for as part of the health offering", Merlo added.

Curaleaf jumped as much as 17 percent on Thursday in Toronto, giving the company a market value of more than $2.6 billion. Both hemp and marijuana are cannabis plants, but hemp's main chemical compound is CBD, while THC (tetrahydrocannabinol) is the prevalent active ingredient in marijuana plants.

There are still some kinks to work out in the legislation, and the Federal Drug Administration continues to ban the additive's use in food and beverage products.

The CVS/Curaleaf deal is already having an impact on Curaleaf's profitability.

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