In May, Curaleaf, the most valuable U.S. marijuana company, made a big bet on marijuana vapes, acquiring Cura Partners, the maker of the popular West Coast brand Select, in a stock deal valued at about $950 million.
The negatives headlines around vaping could have a short-term negative impact on the cannabis industry, but in the long run it will likely push consumers to credible brands sold in licensed stores, according to Aaron Riley, chief executive officer of CannaSafe, a Los Angeles-based cannabis testing lab. He doubts the popularity of weed vaping will decline in the long run.
“People will be more educated, but it’s not going to slow down,” he said.
New York Cases
New York’s health department on Thursday said it found 34 cases of severe lung illnesses in people who were using a cannabis-containing vape product, and that the products the department tested contained vitamin E acetate. Many of the people sickened had also used e-cigarette devices.
“Vitamin E acetate is now a key focus of the department’s investigation of potential causes of vaping-associated pulmonary illnesses,” New York’s health department said in a statement Thursday.
Vitamin E acetate is often used in nutritional supplements or on the skin for its antioxidant effects. While thought to be harmless for those uses, it could carry risks when inhaled, said New York health officials.
The FDA is testing more than 100 samples of vaping products as part of its investigation for a broad range of chemicals, including nicotine, THC, pesticides, opioids, poisons and toxins.
“No one substance, including vitamin E acetate, has been identified in all of the samples tested,” Stephanie Caccomo, an agency spokeswoman, said in a statement Thursday.
This article was provided by Bloomberg News.