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.
Coca-Cola announced its interest in a statement on Monday, responding to a report from BNN Bloomberg that said it was in talks with Canada's Aurora Cannabis Inc to develop drinks infused with cannabidiol (CBD), the non-psychoactive chemical found in marijuana.
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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.
The beverage giant's interest is another indication of the growing acceptance of cannabis by established companies.
Aurora's stock soared 17 percent, while Coke's edged up slightly.
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The Coca-Cola Company says that it's "closely watching" the growth of the use of a non-psychoactive element of cannabis in wellness drinks. "No decisions have been made at this time".
Coca-Cola's potential foray into marijuana beverages follows a two investments by Constellation Brands, the conglomerate behind drinks like Corona and Svedka, totaling more than $4 billion, into Canopy Growth, the largest publicly traded marijuana firm. Landers declined to comment on Aurora.
While marijuana remains illegal at the national level in the US, there is growing acceptance of the use of CBD derived from marijuana to treat illnesses ranging from chronic pain to anxiety and epilepsy. The Edmonton, Alberta-based company has soared along with other pot stocks in Canada as the country gears up to become the first Group of Seven nation to legalize cannabis on October 17.
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Several U.S. states have legalized marijuana but it remains against federal law.