Home Tags Bloomberg

Tag: Bloomberg

Philip Morris steps up vaping plan, keeps close ties with Altria

1/20/20--Philip Morris Chief Executive Officer Andre Calantzopoulos announced that the company is getting ready to launch a new vaping device, IQOS Mesh, early this year. Calantzopoulos states there “will be consolidation in the market for e-cigarettes” and Philip Morris wants to be on the forefront with its IQOS brand. Although Philip Morris’s merger talks with Altria failed last year amid mounting controversy over the health effects of Juul, it hasn’t given up on a potential reunion with sister company Altria Group Inc. at some point in the future. Read

AB Bev’s Labatt will sell CBD-infused tea in Canada

12/11/19--The world’s biggest brewer will kick off its push into cannabis-infused beverages with a lineup of flavored teas -- Lavender Chamomile, Vanilla Rooibos and Peach Ginger Green. The “Everie” teas will contain 98% pure cannabidiol, the non-psychotropic ingredient in cannabis, with only a trace -- 0.05 milligrams -- of THC, the component that gets you high. They will be sold through Fluent Beverages, a joint venture between Anheuser-Busch InBev NV’s Labatt Breweries of Canada and pot company Tilray Inc.’s High Park Co. Read

Car crashes in pot-legal states have soared

11/13/19--Car crashes in the first three states to legalize recreational marijuana have soared as law enforcement and regulators struggle to define driving high, let alone determine how to fight it. Colorado, Oregon, and Washington saw a combined 5.2% increase in the rate of police-reported crashes after legalizing recreational marijuana, compared with neighboring states where such sales are illegal, according to data compiled and analyzed by the Insurance Institute for Highway Safety. Researchers tallied crash rates between 2012 and 2016. Read

Miley Cyrus-backed cannabis cafe brings Amsterdam to Hollywood

9/28/19--Lowell Cafe, America’s first lounge to allow consuming cannabis, opens on Monday in West Hollywood. For the first time in the country, customers will legally be able to order pot that can be smoked in pre-rolled joints or vaped -- even as the industry is grappling with a spike in lung damage and deaths linked to vaping. Read

Pot unites democrats, republicans as ex-party chiefs join Tilray

12/13/18--Michael Steele and Dean Howard, former chairmen of the Republican and Democratic parties respectively, are among the heavyweights joining a Canadian company’s effort to boost the prestige of the marijuana industry. Tilray Inc., the first marijuana company to list directly on a U.S. exchange, announced the formation of a 10-person advisory board. Read

Anheuser-Busch heir shuns beer for push into Colorado marijuana

9/12/18--Adolphus Busch V, the 27-year-old great-great-grandson of the beer magnate Adolphus Busch, has launched a line of disposable marijuana vape pens, under the brand ABV Cannabis. The ABV vape pens are now in about two dozen stores. Busch decided to focus on the product because of growing popularity among marijuana users who want to avoid smoking. Read

Longtime tobacco supplier sees the future in marijuana

9/12/18--Alliance One International Inc. is the latest company pivoting to pot. With a valuation just north of $215 million, the North Carolina-based company is banking on the Canadian market to drive growth as tobacco cigarette smoking rates stagnate around the globe. The move comes as investors are pouring billions of dollars into the burgeoning industry, catapulting the value of marijuana stocks. Read

Corona beer giant puts $3.8 billion bet on US love of cannabis

8/16/18--Constellation Brands Inc., which for seven decades has made its money off beer, wine and whiskey, sees its future in a marijuana leaf. In the biggest (legal) cannabis deal, the Victor, New York-based beverage company will spend about $3.8 billion to boost its stake in Canadian grower Canopy Growth Corp., betting legalization will gain traction around the world and especially in the U.S. Read

Why the FDA is high on a marijuana drug

6/29/18--The U.S. Food and Drug Administration approved a prescription drug for children with severe epilepsy on June 25, making it the first prescription medicine derived from cannabis permitted to be sold in the U.S. The decision is a boost for the U.K.’s biotech industry and bolsters the nation’s position, according to the United Nations, as the biggest producer of cannabis for medical and scientific purposes. Read

Pot at poker tables? Democrats push weed to boost New Jersey finances

9/13/17--With Atlantic City’s gambling heyday now past, politicians in the Garden State are aiming to grab marijuana’s riches while neighbors again play catch-up. Beyond the political will and public opinion favoring legalization, New Jersey has a financial incentive to beat New York and Pennsylvania for access to a legalized market where North American consumers spent $6.7 billion in 2016. Read