September 19, 2018 / 1:27 PM / 3 months ago

BUZZ-Cannabis firm Tilray soars after CEO says interested in consumer products

** Medical marijuana company’s shares soar ~51 pct premarket, on track to post 3rd day of gains, which could more than double the stock’s price

** Company interested in market for consumer products that use ingredients from marijuana, CEO Brendan Kennedy told Bloomberg in an interview here on Tuesday

** Kennedy’s comments come after reports on largest soft drink maker Coca-Cola Co looking for a possible entry into marijuana drinks market

** Tilray overtook rival Canopy Growth Corp on Tuesday to become the largest marijuana producer by market cap; TLRY has a market cap of $14.44 bln vs WEED’s C$15.39 bln ($11.87 billion)

** TLRY’s shares surged on Tuesday after getting U.S. approval to import its cannabis study drug in the U.S. from Canada for a clinical study

** Other cannabis stocks also rise: Cronos Group Inc up 12.5 pct, Canopy Growth Corp up 6.5 pct (Reporting by John Benny in Bengaluru)

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