Licensed marijuana producer Canopy Growth Corp. more than doubled its third-quarter revenue compared with a year ago but fell short of analysts’ expectations for even stronger sales. However, analysts say patient numbers can be a murky metric because medical marijuana patients may register with more than one licensed producer and as the overall number of patients grows. Cannabis oil sales accounted 23 per cent of Canopy’s revenue for the latest quarter, compared to 13 per cent in the same period a year ago. Canopy's earnings before interest, tax and other items was a loss of $7.1 million, compared to a loss of $1.4 million during the same period a year ago. Meanwhile, Linton said Canopy has already begun collaborating on cannabis-based drinks with Constellation Brands since the Corona-beer maker signed a deal to acquire a nearly 10-per-cent stake in the licensed producer for $245 million in October.

Source: thestar February 14, 2018 17:15 UTC