Quoting unnamed sources, BNN Bloomberg said Coca-Cola was in "serious talks" with Aurora but no deal had been finalised. The proposed product would focus on easing inflammation, pain, and cramping, says Bloomberg.
Sources told BNN Bloomberg that the world's largest beverage company is interested in developing drinks that are infused with cannabidiol, the non-psychoactive element in cannabis also known as CBD.
"The space is evolving quickly", Coca-Cola said. "No decisions have been made at this time".
The Bloomberg report follows other deals between US beverage companies and pot producers in Canada, where recreational use of marijuana becomes legal next month across the country, followed by consumable forms of the drug next year.
Cowen analyst Vivien Azer cited growing consumer interest in CBD and said its properties lend the ingredient well to a sports recovery drink. She estimates that cannabis-infused drinks could become a $50 billion annual market in the United States - almost half the size of the $117 billion market for USA beer sales.
The marijuana industry has been attracting interest from a handful of big corporate names as Canada and a wave of US states move to legalize recreational use of the drug.
The legal low-concentrate CBD oil is said to be beneficial for treating a number of complaints as well as promoting sleep, boosting appetite and reducing stress, depression and anxiety.
Would you be willing to try a new Coke beverage that's infused with cannabidiol?
Still, it's unlikely that a major company like Coca-Cola would offer a product infused with CBD in the United States until the federal law changes, said Kris Krane, president of 4Front, a firm that advises companies on the legalities of marijuana and an expert on cannabis law.
Cannabis products have become trendy.
"If they came out with a THC-infused drink, that's a different question", he said.
According to Business Insider, shares of Aurora jumped 15 percent during early Monday trading after the Coca-Cola report broke.
Both Coke and Aurora's shares on the NY stock market increased with the news, despite reports stating there was no guarantee talks between the companies would be successful.
In the USA, medicinal use is allowed in 29 states and the District of Columbia and nine of the states have legalised both medical and personal cannabis use.