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USA
House of Representatives passes CBD banking bill
The US House of Representatives passed the SAFE Banking Act allowing companies dealing in hemp or hemp-derived CBD products to use financial institutions that are part of the FDIC (Federal Deposit Insurance Corporation).
The bill now passes to the Senate.
Daniel Fabricant, PhD, president of the Natural Products Association, said that while having the banking bill advance another step in the legislative process is a good thing, there is still a long way to go because the US Food and Drug Administration still considers CBD to be an illegal dietary ingredient.
“This is a win for legitimate businesses who are selling CBD products, but the bottom line is it doesn’t change the fact that congress needs to direct FDA to set a safe level of consumption for CBD,” said Fabricant.
“We will continue to work with the House and Senate to ensure that consumers have the information they need to make informed decisions about their health, especially when it comes to the fast-growing CBD marketplace.”
For more on this, please click HERE.
Europe
Polaris’s DHA-rich algal oil approved for EU sale
France’s Polaris has received authorization from the Food Safety Authority of Ireland for all market segments for its Omegavie DHA 700 algae Sensory QualitySilver 5.
“We’re proud to offer this innovative product to brands and contract manufacturers globally,” said Louis-Marie Martin, vice-president of sales and marketing at Polaris.
“Low in saturated fatty acids, and with an outstanding organoleptic profile, it is ideal for a wide range of applications.
“And thanks to its high DHA content, European customers will now be able to create new formulations and more highly concentrated finished products.”
For more on this, please click HERE.
Asia
Key trends for dietary supplements and pharma in APAC
According to Mintel, three key trends for dietary supplements and pharma companies across APAC are foods for special medical purposes (FSMP), functional foods, and ease of convenience.
Michelle Teodoro, senior food science and nutrition analyst at Mintel Food and Drink, told NutraIngredients-Asia that Foods for Special Medical Purposes (FSMP) have been gaining attention from firms.
“Both pharmaceutical and food and drink companies can find themselves out of their comfort zones when it comes to pharma foods, with different barriers to entry.
“Food and drink companies will need to expand their R&D capabilities to enhance their scientific creditability while developing relationships with new types of partners including drug stores and health practitioners,” she said.
On convenience, Teodoro noted that speedy effect claims are the fastest growing claims in APAC, while portability and ease-of-use claims, also offer opportunities.
For more on this, please click HERE.
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