"By and large, our consumers understand there's no linkage between the virus and our beer business".
"Our thoughts and prayers go out to those affected by this bad virus and we hope efforts to more fully contain it gain traction soon", said Bill Newlands, President and Chief Eofficer at Constellation Brands in the statement.
"I've been seeing this everywhere today - note that there were 737 people surveyed, so when you see "38% of Americans wouldn't buy Corona" because of the virus outbreak that actually means ~280 people said they wouldn't", that person pointed out.
Of the people who said they usually drink Corona, 14 per cent of them said they wouldn't buy the beer in a public venue, while four per cent said they've stopped drinking it altogether. Corona's sales are heavily dependent on the U.S. market according to the brand's public statement.
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Replies to the tweet say the ad is in "poor taste" and that the brand should "lay low for a few weeks".
CNN reports Constellation Brands' stock dropped 8 percent on Thursday, but the entire stock market has declined this week as the spreading virus threatens to derail the global economy.
According to YouGov, Corona's buzz score, which measures whether American adults who are aware of the brand have heard positive or negative things about it, has fallen to 51 from a peak of 75 at the beginning of 2020.
Constellation's Newlands said those reports do not reflect the company's business performance, calling the "misinformation" about the virus' impact on Corona's business "extremely unfortunate".
Many media sources have reported an uptick in searches for "corona beer virus" on Google spiking at the end of January. The scariest scenario is that a good chunk of people are not confused because they truly believe that the beer and the virus are connected.