Irish-based Jazz Pharmaceuticals buys cannabis-focused drug firm

GW Pharmaceuticals is the maker of the first drug derived from the cannabis plant to win approval in the US

GW Pharmaceuticals sells a medication called Epidiolex for children with severe epilepsy. The drug’s active compound, cannabidiol, produces an anti-convulsant effect.

North American firm Jazz Pharmaceuticals has agreed to acquire cannabis-based medicinal drug company GW Pharmaceuticals for $7.2bn (€6bn) in a cash and share deal.

The company has a manufacturing plant in Athlone, Co Westmeath.