Cigarette Companies to Become ‘Budweiser’ of Marijuana?
In the coming years, major consumer-facing cannabis brands could arise as more states pass medical and recreational marijuana laws and the industry grows.
And one Wall Street guru thinks he knows which companies will be behind these brands.
“Who’s going to be the Budweiser of marijuana? My guess – they would all deny it – would be cigarette companies,” Gerry Sullivan, head of the Vice Fund, predicted in an article by Reuters.
In fact, Sullivan said the Vice Fund – which invests in risque industries such as gambling, guns and alcohol – will keep strong positions in tobacco companies partially for this reason.
Cigarette companies could indeed be positioned well to enter the marijuana industry, and many cannabis professionals have long feared an invasion by Big Tobacco (and Big Pharma).
But it would likely take a significant change on the federal level before this happens. Mainstream corporate giants, such as those in the tobacco industry, would need a clear sign from the government that they could participate in the marijuana sector, likely through new legislation and a reclassification of the drug.
And cigarette companies have shown little interest in the cannabis industry, at least publicly.
Still, there’s no question they are keeping an eye on the situation, and cigarette heavyweights are likely having internal discussions about how to get involved if and when the government changes its position.
A Democratic state senator in New York is planning to introduce a bill next year [click to continue...]
Illinois is keeping information about applicants for medical marijuana business permits completely confidential, ostensibly to [click to continue...]
Opponents of the push to legalize medical marijuana in Florida recently announced a $1.6 million [click to continue...]
As the 2014 election approaches, politicians are increasingly comfortable addressing marijuana issues as part of [click to continue...]
For many voters, a key selling point of recreational cannabis legalization is the possible tax [click to continue...]
A 20-year power plan covering the northeast United States is taking into account the sizable [click to continue...]
As the deadline approaches to submit applications for dispensary and cultivation permits in Illinois, many [click to continue...]
Colorado and Washington have released updated tax data associated with their respective marijuana programs. In [click to continue...]
Chile has joined a growing list of countries moving toward legalization of medical or recreational [click to continue...]
A recent poll spearheaded by NBC News and Marist shows continued support among Colorado residents [click to continue...]
Several academics and researchers who oppose cannabis have worked with pharmaceutical companies that could take [click to continue...]
Several cannabis entrepreneurs who teamed up to secure approval for a marijuana cultivation center in [click to continue...]
The Minnesota Department of Health has opened up the application process for the state’s two [click to continue...]
The Oregon Health Authority has levied significant fines on non-compliant dispensaries and has proposed revoking [click to continue...]