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Tilray Receives DEA Nod for Pot Imports for Medical Research

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Canadian medical marijuana company Tilray said it received an approval from the Drug Enforcement Administration (DEA) to import marijuana to the United States for medical research. Shares of Canadian cannabis producer Tilray Inc. ( TLRY) surged on the news, trading up 13.5% on Tuesday morning to new highs at $136.38. Tilray will supply medical marijuana in capsule form for a clinical trial at the University of California San Diego, exploring its uses for treating essential tremor (ET), a neurological disorder that causes involuntary and uncontrollable shaking that can hinder a patient's ability to perform every day tasks like eating, drinking, writing and driving.