Walgreens Joins CVS and Will Start Selling CBD Products in Some Stores (NASDAQ: WBA) (NYSE: CVS)

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The expansion of CBD in the retail sector is continuing as a new pharmacy chain has confirmed that it would begin to offer CBD-based products in some states.

Walgreens Alliance Boots Inc. (NASDAQ: WBA) told CNBC that the products would be marketed in more than 1,500 stores less than a week after CVS Health Corp (NYSE: CVS) has announced a similar move.

The products will include patches, creams and aerosols made from CBD and will go on sale in the states of Colorado, New Mexico, Kentucky, Tennessee, Vermont, South Carolina, United States of America. Illinois and Indiana.

Walgreens did not disclose additional details about its CBD offer.

Why is it important

CBD is becoming a hot topic in the retail space in the United States, especially health and beauty. As more and more people plan to include CBD in their daily wellness routines, large retailers interpose, emboldened by the full legalization of CBD derived from hemp in the Farm Bill. 2018.

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Last week it was announced that CVS would start offering Elevate CBD brand products and will be offering soon Curaleaf Holdings Inc (OTC: CURLF) products.

Walgreens and CVS will compete in several states, including Colorado, Illinois, Tennessee and Kentucky. CVS will also sell CBD products in California, while Walgreens will enter New Mexico, South Carolina, Vermont and Indiana. This is the first step of the two companies in the CBD market.

A number of retailers, such as DSW Inc. (NYSE: DSW) have recently started offering CBD products and they are widely available online. For pharmacy chains, the supply of CBD-based products is a natural step, given the popularity of the cannabinoid and its market potential. Brightfield Group estimates that the US CBD market will reach $ 22 billion by 2022, although this estimate also includes CBD used in drugs such as GW Pharmaceuticals plc Epidiolex and Sativex from NASDAQ: GWPH.