Recent marijuana news reports claim that Coca-Cola (NYSE:KO) may be looking to team up with Aurora Cannabis (OTCMKTS:ACBFF).
Source: Leo Hidalgo via Flickr (Modified)
The deal in this bit of marijuana news would have the two companies working together on cannabidiol (CBD) drinks. Cannabidiol is a chemical derived from marijuana that can help with pain, but doesn’t contain the psychoactive components present in tetrahydrocannabinol (THC).
We do know for a fact that Coca-Cola has been considering using CBD oil is some of its drinks. The company has said it may use the ingredient in wellness drinks. However, KO has not said anything about a possible deal with Aurora Cannabis and is refusing to comment on the marijuana news rumors, reports Bloomberg.
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“Aurora has expressed specific interest in the infused beverage space, and we intend to enter that market. There is so much happening in this area right now and we think it has incredible potential,” Aurora Cannabis told CNBC. “As a rule, we do not discuss business development initiatives until they are finalized, however we have a responsibility to our shareholders to give proper consideration to all relevant opportunities that are presented.”
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If Coca-Cola does move forward with plans to enter the CBD market, it will be the first soft drink company in the U.S. to do so. More marijuana news like this will also likely pop up in the future as other companies look to cash in on the growing market. It’s possible that KO rival Pepsi (NASDAQ:PEP) will also consider drinks infused with CBD oil.
ACBFF stock was up 14% as of noon Monday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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