December 18, 2018 / 2:48 PM / 2 years ago

BUZZ-Tilray shares gain after taking Novartis deal global

** Shares of Canada’s medical cannabis company rise ~6 pct to $69.79 after co expands agreement with Swiss drugmaker Novartis’ unit Sandoz AG

** Tilray, which has a tie-up with Sandoz Canada, says the agreement represents intentions of two companies to operate globally in locations where cannabis is or will be approved

** Under the deal, Sandoz could support commercialization, co-brand, supply and license some of its medical cannabis products; cos could collaborate on new products

** Other cannabis stocks Cronos Group Inc, Canopy Growth Corp, Aurora Cannabis up between 1.4 pct and 2.4 pct

** Aphria shares up 4.6 pct after co expands deal with Rapid Dose Therapeutics Corp; it can license, manufacture, distribute and sell DOSE’s QuickStrip technology in Germany (Reporting by Sruthi Shankar in Bengaluru)

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