You would think that with the declining tobacco market (most tobacco stocks are significantly down), that tobacco companies would be interested, motivated and expert at getting into the cannabis industry. Color us surprised. They are not – yet.
What other industry is getting into cannabis? The alcohol companies.
Constellation brands (Robert Mondavi wines, Svedka vodka, Corona beer) has just purchased a big stake in Canada’s Canopy Growth Corp, the first G20 nation to legalize marijuana nationwide. Beer makers are also making purchases in the market.
What was once an undercover black market mom and pop business, is becoming a substantial industry, and corporate behaviors and politics are already at play.
The question is, what will Big Tobacco do and when? Perhaps still too risky? Or perhaps a belief that when they come in they can dominate cannabis as they have tobacco? Hard to tell.
Our question is what effect this will have on developing medical evidence for cannabis? Big Tobacco has been able to allure and keep audience despite overwhelming medical evidence of health risks. Their experience will be most instructive as and if they develop a cannabis strategy.