Italian pharmaceutical company Chiesi has announced the acquisition of U.S.-based biotech firm KalVista for $1.9 billion, marking one of the largest deals in the history of Italy’s pharmaceutical sector.

The Parma-based group, which reported €3.6 billion in revenue in 2025 and employs nearly 8,000 people, is expanding its global footprint and reinforcing its focus on rare diseases.

The transaction, already approved by the boards of both companies, is expected to be finalized in the third quarter of the year.

A key asset in the acquisition is Ekterly, an innovative oral therapy designed for the on-demand treatment of hereditary angioedema, a rare and potentially life-threatening condition. The drug addresses a significant unmet medical need for patients seeking effective and accessible treatment options.

With this move, Chiesi aims to strengthen its position in the international pharmaceutical market while continuing to invest in innovation and specialized therapies.