Mondelez CEO Dirk Van de Put said that the Nabisco owner is getting ready to add CBD to its food products but waiting for more regulatory guidance from the FDA.
prohibits adding the compound to food or beverages. In response to pressure from Congress, the regulator has set its first date for public hearings on the matter for next month.
"The space is not clear," Van de Put said. "It's a bit clearer in non-food products. In food products, I'm hoping that the FDA will bring some clarity in the coming months."as the top food trend of 2019. CBD in particular has been gaining buzz for health benefits, such as easing pain and managing anxiety. Little scientific research has been done to support those claims. Mondelez is also looking into those claims, Van de Put said.
Shares of the company were up 1% in morning trading Wednesday after Mondelez reported earnings Tuesday night. The stock, which has a market value of $74.14 billion, has risen 28% so far this year. Mondelez reported adjusted earnings of 65 cents per share, topping analysts' expectations of 61 cents per share. But the company fell just short of estimates for revenue, reporting net sales of $6.54 billion. Wall Street was expecting the company to report revenue of $6.55 billion.
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