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Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. Cannabidiol, or CBD, is an active compound found in cannabis plants. Pramote Polyamate/ Getty Image
Jazz Pharmaceuticals is buying drugmaker GW Pharma in a blockbuster $7.2 billion deal.
Jazz is paying a 50% premium for GW, a signal of the biotech s bullishness on cannabis-based treatments.
GW produces Epidiolex, an epilepsy drug derived from cannabis. It s the only FDA-approved drug containing CBD.
Jazz Pharmaceuticals is making a $7.2 billion bet on the future of medical cannabis.
The drugmaker said on Wednesday it will acquire GW Pharma, the maker of CBD-based epilepsy treatment Epidiolex, in a cash-and-stock deal. It s the largest cannabis-industry deal so far.