Business

Official: Bidders compete for Uruguay pot business

By Leonardo Haberkorn
Published August 28, 2014 11:45pm ET
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Official: Bidders compete for Uruguay pot business
FILE - In this Dec. 18, 2013 file photo, Juan Palese, a marijuana grower, shows his crop outside of Montevideo, Uruguay. People in Uruguay who want to grow their own marijuana at home were able to register to do so Wednesday Aug. 27, 2014, as the government launched the latest phase in its first-of-its-kind legalization program. (AP Photo/Matilde Campodonico, File) | Matilde Campodonico

MONTEVIDEO, Uruguay (AP) — Uruguay’s new market for legalized marijuana has attracted at least 20 companies bidding for the right to supply pot to the country’s pharmacies, a government official said Thursday.

An official from President Jose Mujica’s office says cannabis regulators will review and pick the best businesses from the competitors that passed initial scrutiny. It’s not clear how many may eventually be granted licenses in the South American country.

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Marijuana Uruguay