| It's been a tough few years for cannabidiol. The hemp-derived compound is still lingering in a US regulatory limbo that has prevented large retailers from putting CBD products on shelves, and authorities have issued a raft of warnings to brands making unproven claims. That's led companies such as Molson Coors Beverage to drop the ingredient, citing the uncertain environment. And yet Prima, a brand that sells CBD-infused supplements and personal-care products, is doubling down. It recently acquired Prospect Farms, which has a line of CBD products and and a 250-acre Maine complex to cultivate organic hemp. Together, the companies formed Uplifter Brands, a corporate umbrella under which they'll also sell pet-related products in 2023. Beyond the growth created by consolidation, Uplifter Brands is betting that clean ingredients and responsible sourcing will resonate with consumers. Prospect Farms will supply hemp for Prima and give it tighter quality control — a crucial point for a brand that bills itself as providing "pure and potent plant therapeutics." If the wager pays off, other industry players will likely follow suit. "We are still very, very early stage stages in cannabinoids," said Christopher Gavigan, executive chairman of Uplifter Brands, who previously started consumer-goods company Honest Co. alongside actress Jessica Alba. "We have to legitimize it. We have to bring credibility to it."  Prospect Farm cultivates hemp in its 250-acre Maine complex. Prima was founded in 2018, the same year that a US law legalizing the production of hemp was passed. But the Food and Drug Administration hasn't yet issued comprehensive regulations for testing, labeling and marketing CBD products, which means sellers have to navigate conflicting state and federal requirements. For example, the FDA allows CBD to be present in cosmetics, but not in food or dietary supplements. Some states do allow CBD in food, however. Some of the confusion could be on its way to lifting. In an emailed statement to Bloomberg News, the FDA said it's studying whether CBD is safe in food and supplements and plans to make recommendations for regulations in the coming months. The agency plans to weigh evidence on how CBD should be regulated and whether it requires new rules or new legislation. The murkiness on the issue has kept large retailers such as Target and Walmart at bay, hampering US CBD sales, which have decelerated since 2019, according to data compiled by Euromonitor International. CBD pioneer Charlotte's Web said in a November earnings call that stores were cutting back on shelf space, leading total cannabidiol distribution points to decline about 20% from the previous year. In addition to its website, Prima currently sells its products at LVMH's Sephora and the Vitamin Shoppe. Prospect Farms is available online and at spas and gyms such as Equinox. Without clear FDA guidelines, brands and the select retailers willing to sell CBD are effectively the industry's regulators, Gavigan said. He added that Prima and Sephora created their own standards for cannabidiol products, for example. Early industry entrants came in expecting a "green rush," Gavigan said. But it will take time for CBD to reach its potential. "We want to be part of that innovation and defining what the market should be," Gavigan said. "That goes back to responsibility and claims. But it also takes some time for federal regulators to really come to understand these molecules." | 
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