Back in June 2018, the FDA approved the first drug comprised of CBD, which is a component of cannabis.
” The U.S. Food and Drug Administration today approved Epidiolex (cannabidiol) [CBD] oral solution for the treatment of seizures associated with two rare and severe forms of epilepsy, Lennox-Gastaut syndrome and Dravet syndrome, in patients two years of age and older. This is the first FDA-approved drug that contains a purified drug substance derived from marijuana. It is also the first FDA approval of a drug for the treatment of patients with Dravet syndrome. “
In 2019, that drug, Epidiolex, had sales of $300 million and the projection for 2020 is $500 million. This is tremendous growth seeing as the sales in Q4 2018 were less than $10 million.
This is definitely a bright spot in the cannabis industry and shows that CBD can have an impact on the drug market, albeit in a limited way right now.