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Photo By Tom Williams/Getty Images

Canadian medical marijuana company Aurora Cannabis has agreed to buy rival CanniMed Therapeutics for around C$1.1 billion (US$892m), following a hostile takeover battle.

Why it's a big deal: Because this is an expensive signal that the North American cannabis market isn't too concerned about Jeff Sessions.

As part of the agreement, Cannimed will terminate its earlier agreement to buy smaller competitor Newstrike Resources.

Bottom line: "Share prices of Canadian growers have surged ahead of legalization, which is expected later this year. The country has at least 84 publicly traded companies tied to marijuana that trade on its exchanges, with a combined market valuation of C$36.9 billion." — Bloomberg

Go deeper

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Hospital crisis deepens as holiday season nears.
  2. Vaccine: Moderna to file for FDA emergency use authorizationVaccinating rural America won't be easy — Being last in the vaccine queue is young people's next big COVID test.
  3. Politics: Bipartisan group of senators seeks stimulus dealChuck Grassley returns to Senate after recovering from COVID-19.
  4. States: Cuomo orders emergency hospital protocols as COVID capacity dwindles.
  5. Economy: Wall Street wonders how bad economy has to get for Congress to act.
  6. 🎧 Podcast: The state of play of the top vaccines.
2 hours ago - Health

First blood test to help diagnose Alzheimer's goes public

Photo: Jerry Naunheim Jr./C2N Diagnostics via AP

A non-COVID medical breakthrough: People over 60 now have access to a blood test for Alzheimer's disease.

Why it matters: The existing PET brain scan test costs some people about $5,000 and often isn't covered by insurance, AP reports.

Updated 3 hours ago - Politics & Policy

Wisconsin, Arizona certify Biden's victories

Photo: Demetrius Freeman/The Washington Post via Getty Images

Arizona and Wisconsin officials confirmed the presidential election results in their states, formalizing President-elect Joe Biden's victories in the key battlegrounds.

Why it matters: The moves deal yet another blow to President Trump's efforts to block or delay certification in key swing states that he lost.