Chiesi agreed to acquire KalVista Pharmaceuticals for about $1.9 billion, adding a commercialized hereditary angioedema (HAE) treatment to its rare-disease franchise. Under the deal structure described in reporting, Chiesi will pay $27 per share, reflecting an approximately 40% premium, according to market coverage. If completed, Chiesi would bring in Ekterly (sebetralstat), an orally available on-demand plasma kallikrein inhibitor approved by the FDA in July 2025 and already cleared in multiple other regions. The acquisition expands Chiesi’s portfolio with an established product and strengthens its presence in rare immunology markets.