Flora Growth Corp. (NASDAQ:FLGC) a leading outdoor grower, manufacturer, and distributor of global cannabis products and brands, just announced that its subsidiary JustCBD will launch its line of Novel Foods-approved CBD products on Amazon.co.uk. This announcement comes shortly after JustCBD obtained UK Novel Food clearance.
Amazon UK entered the CBD market in October 2021 and has since expanded the initial pilot program only to include suppliers who have demonstrated compliance with UK CBD Novel Foods Regulations. Producers with UK Novel Food authorization must prove that the product is safe for consumption and labeled correctly.
“The demand for hemp-derived CBD continues to draw attention in the United Kingdom. JustCBD’s existing presence in the UK alongside the new partnership with Amazon UK has truly solidified our presence in this growing market,” said Flora Growth (NASDAQ:FLGC) CEO Luis Merchan.”We are excited to continue expanding our operations and clinical research programs in the United Kingdom and deliver top-quality CBD products to customers aiming to improve their health and quality of life.”
JustCBD now has offices in the UK as well as 78 products that have received the UK Novel Foods authorization.
Other Recent Deals and Launch of Vessel Brand
Flora Growth Corp. (NASDAQ:FLGC) is also advancing its Flora Pharma division. On May 23, the company announced that it has signed a deal with leading cell biologist, Dr. Annabelle Manalo-Morgan, Ph.D., to acquire her Masaya brand, as well as her patent-pending CBD formulations. Created by Dr. Annabelle and backed by her research, Masaya’s pure and potent CBD oil formulations are 100% THC-free and have a long list of positive testimonials collected over years of use. Flora Growth Corp. (NASDAQ:FLGC) intends to distribute the brand and its formulations worldwide.
Masaya will become a Flora-owned brand sold in the US and will be Flora Life Sciences’ first offering. In addition, the original patent-pending formulation, Masaya Pure, is expected to be used in Flora’s current clinical trials with the University of Manchester in the UK. The formulation is also being registered with the Colombian regulatory agency, INVIMA, as one of the first steps for distribution beyond the US.
On May 11, Flora Growth Corp. (NASDAQ:FLGC) revealed that its Vessel brand has achieved significant penetration in Canada with an approved listing on the Ontario Cannabis Store (OCS). In addition, Vessel announced the launch of its Canadian direct-to-consumer online store, www.vesselbrand.ca, to serve customers directly across the country. Vessel marks the first commercial entry for Flora Growth’s (NASDAQ:FLGC) product portfolio into Canada.
On April 7, Flora Growth Corp. (NASDAQ:FLGC) announced that JustCBD has signed a deal with airport distribution giant OTG Management, a leading operator of airport restaurants and retail storefronts. As part of the agreement, JustCBD will start selling its premium CBD products in airports across the US through OTG Management.
OTG Management placed orders to distribute JustCBD night-time gummies and regular JustCBD gummies at George Bush Intercontinental/Houston Airport (IAH) in Houston and Ronald Reagan Washington National Airport (DCA) in Washington, D.C. Flora expects future orders to expand to additional products and airports in the United States.
According to Grand View Research, the CBD gummies market is the fastest-growing segment of the burgeoning CBD industry. With an expected CAGR of 30.7% from 2021 to 2028, this market represents a $13.28 billion market opportunity.
SOURCE Flora Growth Corp. (NASDAQ: FLGC)
