In Chiesi’s biggest M&A deal yet, pharma buys HAE company KalVista

Chiesi is adding a commercialized treatment for hereditary angioedema to its rare disease portfolio via its $1.9 billion acquisition of KalVista, the biggest M&A deal in the Italian pharma’s history.

Assuming its completion, the deal will give Chiesi Farmaceutici S.p.A. the HAE therapy Ekterly sebetralstat, approved in July 2025 by FDA. Across roughly six months through Dec. 31, sales of the KLKB1 inhibitor amounted to $49.1 million; it has also won approval in the EU, U.K., and Japan...