Health Canada releases draft regulations for cannabis edibles, creams
- Author: Eleanor Harrison Dec 22, 2018,
Dec 22, 2018, 0:13
Stringent packaging seeks to see ingestibles sold in plain, child-resistant packaging that would be required to bear a standardized cannabis symbol, health warning message, and CBD and THC content, along with ingredient lists, nutrition fact tables, and allergens.
Tilray is also exploring opportunities to make acquisitions in 2019, both within and outside the cannabis space, Brendan Kennedy, Tilray CEO, said.
With Democrats winning control of the US House of Representatives, Congress may finally pass the Farm Bill, which would make it legal to produce hemp and potentially open the door for more products containing cannabidiol (CBD), a element found in cannabis.
Belgium-based AB InBev, the owner of more than 500 beer brands including Budweiser and Stella Artois, said it will participate in the project through its subsidiary Labatt Breweries of Canada.
In the cannabis industry's largest investment, Corona beer maker Constellation Brands added $4 billion to its $200m investment in Canopy Growth in August to help fund the Canadian cannabis producer's global expansion.
"By establishing a strict regulatory framework for these new cannabis products we are keeping profits away from criminals and organized crime".
Any "decisions regarding the commercialisation of the beverages will be made in the future", says the brewer. Shares of AB InBev were little changed.
A-B and Tilray's joint release, which includes additional information about the partnership, is below.
Tilray, a global pioneer in cannabis production and distribution, announced a partnership with AB InBev to research non-alcohol beverages containing tetrahydrocannabinol (THC) and cannabidiol (CBD).
The Canadian marijuana company Tilray announced yesterday (December 18) that it has signed an agreement to partner with Novartis subsidiary Sandoz to sell medical marijuana in countries where it is legal, now numbering 35. Each company intends to invest up to $50 million Dollars, for a total of up to $100 million USD.
Canada, which became the world's first major country to fully legalize the recreational use of cannabis in October, is expected to approve cannabis-based products, including beverages and edibles in October 2019.
'Labatt is committed to staying ahead of emerging consumer trends, ' President Kyle Norrington said.
The deal does not address future decisions about the commercialization and sale of a potential cannabis drink. Revenue from cannabis beverages could outpace the general demand for cannabis products by over two times, capturing 20% of the market for cannabidiol edibles by 2022, according to the analysts.