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The maker of Budweiser is partnering with medical cannabis company Tilray in a $100 million deal to research cannabis-infused drinks for the Canadian market.
The alliance announced on Wednesday is the latest foray by a major beer company into the cannabis business in Canada, which legalized recreational marijuana in October.
Anheuser-Busch - InBev - Tilray - Inc - Project
Anheuser-Busch InBev and Tilray Inc. said each would invest $50 million in the project to study non-alcoholic drinks containing cannabidiol, or CBD, which some claim has calming and healing affects, and THC, the cannabis compound known for its psychoactive effects.
Tilray had announced a day earlier that a subsidiary struck a deal with pharmaceutical company Sandoz AG to jointly operate in jurisdictions where cannabis is, or will be, approved for medical purposes.
Tilray - Shares - Percent - News - Deal
Tilray's shares jumped 15 percent following news of the deal with AB InBev. Shares of AB InBev were little changed.
Belgium-based AB InBev, the owner of more than 500 beer brands including Budweiser and Stella Artois, said it will...
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