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Canady (thigh) was activated off injured reserve Saturday, Jamison Hensley of ESPN.com reports.
Canady returned to practice Nov. 12, thus starting the three-week window in which the team had to either activate him off injured reserve or place him in a season-ending position on injured reserve. In a corresponding move, the Ravens waived offensive lineman Hroniss Grasu. Canady will likely assume a depth role in Baltimore's secondary.
