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Times Events. Times Store. Facebook Twitter Show more sharing options Share Close extra sharing options. By Associated Press. Associated Press. More From the Los Angeles Times. Business SpaceX crew launch marks space travelers in 60 years. Business Hot inflation report slams bond market, sends stocks lower. Long term, we would expect few companies to produce their own cannabis, much like few cigarette companies produce their own tobacco.

Cronos Group has worked hard to be at the leading edge of medical marijuana, a space that is much closer to moving towards legalization in global markets compared to recreational. Their partnership with Ginkgo Bioworks is specifically focused on developing innovative products that could prove important to the medical side of the business.

Remember, we have barely scratched the surface of the potential of medical marijuana. THC is the drug that gets you high and is the reason people want to consume cannabis recreationally.

CBD does not get you high but has been shown to potentially help patients with epilepsy, inflammation, pain, psychosis and other issues. However, there are at least other cannabinoids that have been isolated from cannabis whose impacts can cause a variety of positive outcomes in everything from hunger suppression to diabetes treatments.

Many of these cannabinoids are only trace amounts in natural cannabis, but the work Cronos and Ginkgo Bioworks are doing puts them in a position to create strains that highlight these cannabinoids for new treatments. Alternatively, they could produce new products or treatments that focus entirely on delivering these other cannabinoids as we see with CBD oils today. This would allow Cronos to bring new products to market that are truly unique. Using that, Cronos is in a greater position to move into a market leading position in the developing global market for medical cannabis.

Altria has planted a flag in the global medical marijuana market with this purchase. Worstall also predicts that after liberalization of the marijuana market, the price crash will be followed by tax changes and calls for protectionism in favor of U. All told, marijuana cigarettes could be much cheaper than Fast Company's analysis would imply.

Will this actually happen? That said, Big Tobacco has no plans to get involved in the marijuana business anytime soon, seeing as weed remains very illegal on a federal level. And even if that particular barrier is breached, retailers will have to jump on board selling a very controversial product which might have 50 very different regulatory regimes for each state.