Bloomberg Reports Coca-Cola is Considering Cannabis Infused Beverages

Dow Jones Industrial Average stock market index-listed company Coca Cola is seen in Los Angeles

However, as reported by the sources, Coca-Cola Co.is planning to create a brand of cannabis-infused beverages based on the Cannabidiol compounds of the cannabis plants. The Atlanta-based soft drinks maker is in talks with Canadian marijuana producer Aurora Cannabis Inc.to develop the beverages, according to a report from BNN Bloomberg Television.

Instead of developing beverages that would give consumers that "buzz" similar to smoking marijuana, such as some alcohol industry big names tried to do, Coca-Cola and Aurora Cannabis aim to come up with some beneficial drinks to reduce inflammation, pain, and cramping.

While neither company confirmed the talks, Coca-Cola said it was "closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world".

"The space is evolving quickly", Coke said. "No decisions have been made at this time", stated Ken lander for the BNN Bloomberg.

Aurora's shares rose 14 percent while U.S-listed shares of fellow Canadian producers Canopy Growth Corp and Tilray Inc gained respectively 3 and 7 percent.

As cannabis legalization becomes more and more widespread, and nations like Canada federally drop barriers to entry, large companies like Coca-Cola are inevitably going to jump into the fast growing market.

In addition, a number of Canadian cannabis companies, including Cronos and MedMen Enterprises, now trade on U.S. stock exchanges, and some American companies have taken stakes.

And Lagunitas, a craft beer label of brewing giant Heineken, already has a drink infused with THC, marijuana's active ingredient, which does produce a high. The drug is still illegal under U.S. federal law, although some states have decriminalized it.

Canada is set to legalize cannabis on October 17 after both houses of Parliament voted to make the drug available for recreational use. The BI Canada Cannabis Competitive Peers Index has more than doubled in the past 12 months, though has dropped 24 per cent in 2018 on concern that the stocks are overvalued.

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