- Tilray shares jumped as much as 18% late Wednesday after the cannabis producer announced a partnership with AB InBev to research non-alcohol beverages containing THC and CBD.
- The partnership between the two companies would be limited to Canada, according to a statement from Tilray.
- Follow Tilray’s stock price here.
The cannabis producer Tilray jumped 18% late Wednesday after the company announced a partnership with AB InBev, the maker of brands like Budweiser and Bud Light, to research non-alcoholic beverages containing THC and CBD.
The partnership between the two companies would be limited to Canada, according to a statement from Tilray, with each company intending to invest up to $US50 million, for a total of up to $US100 million.
The announcement came one day after Tilray said it was partnering with Sandoz AG, a division of Swiss drug giant Novartis AG, to increase the availability of its medical-cannabis products around the world.
Tilray shares were up 252% since the start of 2018.
This story is developing…
- Tilray is soaring after announcing a deal with a unit of the Swiss drug giant Novartis to take its medical products global
- A fund that’s crushing 99% of its peers this year reveals why it’s betting big on legal cannabis – and the single stock driving its outperformance
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.