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Tilray collaborates with AB InBev on cannabis drinks

AB InBev (BUD), the world's largest brewer, said Wednesday that it merged with Canada's Tilray (TLRY) to investigate cannabis-infused drinks.It's the latest big company to start exploring the pot market after decision to legalize leisure marijuana in Canada and a number of US states. AB InBev and Tilray will invest a total of $ 100 million to investigate non-alcoholic beverages containing cannabis elements."We intend to develop a deeper understanding … that will guide future decisions about potential commercial opportunities," Kyle Norrington, president of AB InBev's Canadian subsidiary Labatt Breweries, said in a statement.Currently, AB InBev just on cannabis ingredients in Canada. The company, whose main brands are Bud Light and Stella Artois, will decide whether the pot products are commercially viable at a later date. Tilray, based in British Columbia, specializes in medical cannabis products. Earlier this week, the company announced a collaboration with the Swiss pharmaceutical company Novartis (NVS) to distribute medical pot in international markets. The Canadian company's share has more than quadrupled since its publication on Nasdaq in July. Other major consumer brands are looking at how they can benefit from solving restrictions on cannabis products. With democrats gaining control of the United States House of Representatives, Congress can finally cross the farm bill, which would make it legal to produce hemp and potentially open the door for more products containing cannabidiol or CBD. Earlier this month, Marlboro owner Altria announced that it invested $ 1.8 billion in Canadian cannabis companies Cronos Group. Canopy Growth (CGC), another…

AB InBev (BUD), the world’s largest brewer, said Wednesday that it merged with Canada’s Tilray (TLRY) to investigate cannabis-infused drinks.

It’s the latest big company to start exploring the pot market after decision to legalize leisure marijuana in Canada and a number of US states. AB InBev and Tilray will invest a total of $ 100 million to investigate non-alcoholic beverages containing cannabis elements.

“We intend to develop a deeper understanding … that will guide future decisions about potential commercial opportunities,” Kyle Norrington, president of AB InBev’s Canadian subsidiary Labatt Breweries, said in a statement.

Currently, AB InBev just on cannabis ingredients in Canada. The company, whose main brands are Bud Light and Stella Artois, will decide whether the pot products are commercially viable at a later date.

Tilray, based in British Columbia, specializes in medical cannabis products. Earlier this week, the company announced a collaboration with the Swiss pharmaceutical company Novartis (NVS) to distribute medical pot in international markets.

The Canadian company’s share has more than quadrupled since its publication on Nasdaq in July.

Other major consumer brands are looking at how they can benefit from solving restrictions on cannabis products.

With democrats gaining control of the United States House of Representatives, Congress can finally cross the farm bill, which would make it legal to produce hemp and potentially open the door for more products containing cannabidiol or CBD.

 More major consumer brands are looking at how they can benefit from solving restrictions on cannabis products.

Earlier this month, Marlboro owner Altria announced that it invested $ 1.8 billion in Canadian cannabis companies Cronos Group. Canopy Growth (CGC), another Canadian marijuana business, received a multi billion dollar investment from the Corona owner Constellation Brands (STZ) in August.

A top consumer brand that resists the pot rush for now is Coca-Cola (KO). CEO James Quincey said in October that it has “no plans at this stage” to enter the cannabis market.

Belgium-based AB InBev has been looking for ways to suck its sales, as consumers increasingly focus on craft beer and microbrews. It has damaged the sale of mass-produced beers such as Budweiser and Bud Light.

Paul R. La Monica contributed to this report.

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