It was so Altria, parent company Philip Morris and owner of the Upper Marlboroor decided to invest $ 2,400 million in Cronos Group, a Canadian marijuana medical and entertainment company, from which it will now acquire 45% of its shares.
Founded in Toronto, Cronos Group is responsible for the production and sale of medical marijuana in Canada, although it has a presence in Israel, Australia and Germany.
The tobacco company's entry into the marijuana market is explained at the beginning of the legalization of cannabis in various US countries, as well as the known reduction in cigarette consumption by young people and the high mortality rate among older smokers.
In this sense, California, the most densely populated area of the country, was the main hero of a twist: on January 1 this year, it became the largest legal market in the world – with 39 million inhabitants, one in five Americans. They were able to access marijuana.
The other six countries that have a legal framework for recreational and drug use are Washington, Oregon, Nevada, Alaska, Massachusetts and Maine – the latter two also made it possible in 2018.