Charlotte's Web to Provide CBD to Seniors With Cancer in Pilot Program

Dow Jones

2025/12/19

By Elias Schisgall

Charlotte's Web Holdings will provide CBD to senior citizens with cancer patients through a pilot program being run by the Center for Medicare and Medicaid Innovation.

The hemp-based CBD wellness company said Thursday that seniors in the program will be able to get CBD reimbursed by Medicare and Medicaid.

The move comes after President Trump signed an executive order reclassifying marijuana as a Schedule III drug. The order is expected to increase the availability of CBD, a non-psychoactive chemical found in cannabis and hemp, for medical research.

Shares soared 59% to a 52-week high of 35 Canadian cents, or 25 U.S. cents, in trading after the order was signed.

Charlotte's Web said it will offer a set of products for patients in the program early next year. The program will be guided by Charlotte's Web's newly-formed Scientific Advisory Board, and the nonprofit Realm of Caring will provide cannabinoid therapy guidance for patients and providers.

"As the CBD market leader and a trusted partner throughout the country among healthcare practitioners, this initiative marks a historic step forward, uniquely positioning Charlotte's Web to expand access to safe, non-intoxicating hemp CBD products through existing pathways," Charlotte's Web Chief Executive Officer Bill Morachnick said.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

December 18, 2025 14:56 ET (19:56 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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