Dublin's Jazz Pharmaceutical's has bought a cannabis focused drug company for €6 billion.
In the "largest cannabis deal" of all time, the Irish company have agreed to acquire GW Pharmaceuticals for the huge sum ($7.2 billion) in a cash and share deal.
Jazz Pharmaceutical is based in the capital and they have a manufacturing plant in Athlone.
They manufacture products for sleep disorders and use in oncology treatments.
Jazz has an array of medications for cancer and other conditions and diseases, but is best known for its high-priced narcolepsy treatment Xyrem.
Bruce Cozadd, chairman and CEO, said: "We are joining two teams that share a passion for, and track record of, developing differentiated therapies that advance science and transform the lives of patients.
"We look forward to welcoming the GW team to Jazz to build an even stronger company."
Cannabis and cannabis-derived products have become more popular in Ireland in recent years.
Last month Health Minister Stephen Donnelly shared that the HSE Service Plan for 2021 includes a Medicinal Cannabis Access Programme.
Due to medical research and development of products like CBD oils, doctors can now prescribe these to treat medical conditions.
GW is a UK-based company which specialises in cannabis research and product development.
They are in the early stages of research and development for medical purposes despite its long history of recreational use.
They are the first company to make a drug derived from cannabis that has been approved for usage in the US. The medicine, called Epidiolex, treats symptoms in children with severe epilepsy.
GW is also in late-stage trials for another cannabis-based product to treat multiple sclerosis, and is working on candidates for autism and schizophrenia.
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