Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →Stifel analyst Paul Matteis observed that Ekterly's launch 'has gone exceedingly well and even surpassed bullish expectations – making [KalVista] a great asset…
Giacomo Chiesi, EVP of Chiesi Global Rare Diseases, said Ekterly 'will meaningfully contribute to its goal of reaching €6 billion (about $7 billion) in revenue…
Chiesi completed its largest acquisition in 90 years by purchasing KalVista Pharmaceuticals for $1.9 billion ($27 per share). The Italian pharmaceutical…
Source summaries from our enrichment pipeline; follow links for originals.
All 8 sources with sentiment breakdown →
Chiesi Group entered a definitive merger agreement to acquire KalVista Pharmaceuticals (KALV) for $27.00/share in cash, ~$1.9B equity value, adding the first oral on-demand HAE therapy EKTERLY (sebetralstat) to Chiesi Global Rare Diseases. The tender offer (via Skyline Merger Sub) commenced May 13, 2026 and is set to expire at 11:59 p.m. ET on June 10, 2026 unless extended. All regulatory clearances have been obtained: the U.S. HSR waiting period expired May 28, 2026, the German GWB prohibition criteria were not met (May 27, 2026), and the Italian foreign-direct-investment authority confirmed it will not object (May 29, 2026). Subject to the minimum-tender condition, the deal is expected to close in Q3 2026, with any untendered shares acquired via a second-step merger at the same price.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Chiesi Group / KalVista Pharmaceuticals, Inc. (this deal) | 2026 | $1.9B | — |
| Shire plc / Dyax Corp. | 2016 | $5.9B | 89 |
| Horizon Pharma plc / Hyperion Therapeutics, Inc. | 2015 | $1.1B | 79 |
| Shire plc / NPS Pharmaceuticals | 2015 | $5.2B | 78 |
| AstraZeneca PLC / Amolyt Pharma | 2024 | $1.1B | 73 |
| Sanofi SA / Inhibrx Inc. | 2024 | $2.2B | 70 |
| Eli Lilly and Company / Hanmi Pharmaceutical Co. Ltd. | 2026 | $1.3B | 65 |
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