Cannabis is poised to be one of the fastest growing industries on the planet over the next decade. Worldwide sales have more than tripled to $11 billion over the last four years alone, and they could grow by as much as 18 times that over the next decade. The launch of Cannabis 2.0 on October 27, 2019 will allow a new line of products to be sold to consumers that are nondried-flower products, such as edibles, vapes, infused beverages, concentrates and topicals. This new launch has sent big brand-named companies flocking to invest in Cannabis projects to get some skin in the game.
The upcoming launch of Cannabis 2.0 has sent several brand-named companies into sinking their teeth into the Cannabis Industry. Liquor giant Constellation Branks sunk $4 billion into Canopy Growth in November, giving it a 37% stake in the company, while tobacco giant Altria sent $1.8 billion to Cronos Group for 45% stake in the company. Global giant Teva Pharmaceuticals announced its entrance into the growing cannabis industry. Known as the biggest generic drug manufacturer in the world, topping the industry in almost all aspects including market cap and revenue. Teva has partnered up with Israeli firm Canndoc to supply products to consumers in hospitals, health maintenance organizations and all Israel pharmacies. This collaboration is considered the biggest deal between pharma and medical cannabis companies thus far. The pharmaceutical sector is treading with caution when it comes to entering the cannabis market thus it may be quiet a while before we see a deal of this magnitude. Aside from Teva, Contelation Brands, Cronos, and Canndoc, and a number of other companies have put some skin in the game in some capacity including Novartis, Johnson & Johnson, Sanofi, Merck, Abbvie, and Pfizer. The continuous growth and demand for cannabis guarantee that more pharmaceutical companies will likely join the growing trend.