executive of one of North America’s top beer makers says it’s only a mater of time before all alcohol companies are involved in the cannabis industry.”16
Tus far, Constellation
Brands has bought an interest in Canopy Growth, the largest Canadian marijuana company, to the tune of a 9.9% interest for 245 million Canadian dollars ($190 million), plus options to raise its stake to just under 20% . . . 17
“Molson Coors
Brewing selected Te Hydropothecary . . . and Diageo, the maker of Guinness beer and Smirnoff vodka, has been in talks with at least three Canadian marijuana growers.”18 While the alcohol industry may benefit on one hand with taking a literal interest in Canadian marijuana companies, it may be negatively impacted on the other. Both Te Boston Beer Co., maker of Samuel Adams, and Jack Daniel’s-maker Brown-Forman have
stated in their SEC statements and filings that the marijuana industry may negatively impact their botom line.19
Interestingly, however,
one study found that “individuals who use both cannabis and alcohol tend to use them at the same time, and simultaneous use was associated with increased frequency and quantity of alcohol use.”20 With respect to the drug testing industry,
according to a report by BCC Research, “the global drug of abuse (DOA) testing market reached nearly $3.0 billion in 2016. Tis market is estimated to grow at a compound annual growth rate (CAGR) of 4.5% to reach nearly $3.9 billion by 2022 from $3.1 billion in 2017.”21
“Te industry CAGR of
4.5% through 2022 is expected, with urine and blood tests remaining market leaders. Increasing use of saliva tests may see a sharper growth in that emerging segment,”
“Big Pharma companies want botanical marijuana to remain illegal
because it is financially beneficial to them, not because synthetic marijuana is decidedly better for patients.”
Professional Liability Insurance designed just for you.
The Professional Liability Insurance Program is endorsed by your Association, DATIA, and is specifically designed for drug and alcohol testing facilities. As a member of DATIA, you are eligible for a competitive quote from an agency with a knowledge of your special insurance needs.
Paula D. Layton 800-356-9804 | 110 Dixie Street, Carrollton, GA ©2018, McGriff Insurance Services, Inc. All rights reserved.
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