The CEO of Perrigo, a large maker of over the counter generic drugs, talked to Business Insider about why he’s betting $50M on CBD. The company acquired a 20% of Colorado CBD company Kazmira.
CEO Murray Kessler said taking the Kazmira stake is part of a long-term push to position Perrigo as a “self-care” rather than a healthcare company…[It plans to] working with Kazmira on producing reliable and high-quality CBD, then leveraging its connections to sell it to big pharmacy chains and grocery stores.
“I don’t have many opportunities that I look at and say — if done right and fully developed — it could be a $10 or $15 or $20 billion category,” Kessler said. “Those don’t come along every day.”
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