Who is this relevant for?
- Manufacturers evaluating UK market entry
- Distributors monitoring sourcing opportunities
Chiesi Group, already active in rare disease through prior acquisitions, is doubling down with a $1.9 billion deal to buy KalVista Pharmaceuticals. The transaction, expected to close in Q3 2026, brings Ekterly, the first FDA-approved oral drug for acute treatment of hereditary angioedema (HAE) attacks in patients aged 12 and older.
Ekterly’s tablet formulation gives it a clear dosing advantage over injectable HAE treatments from Pharming Group and Takeda. Since its launch last July, the drug has captured nearly 20% market share and generated $49.1 million in product revenue in 2025. KalVista reported strong uptake, and regulatory approvals have followed in the EU, UK, Switzerland, Australia, Singapore, and Japan. A pediatric label expansion to children aged 2-11 is planned for this year.
Chiesi’s rare disease division, based in Boston, already holds Filsuvez (from the Amryt acquisition) and Elfabrio (partnered with Protalix). The company sees Ekterly as a strategic fit, adding a differentiated on-demand treatment to its rare immunology portfolio. Chiesi aims for €6 billion in revenue by 2030, and this acquisition is expected to contribute meaningfully.
The HAE drug market is competitive. Ionis’s Dawnzera, approved for prophylaxis, and BioCryst’s Orladeyo (oral prophylaxis) are established. Intellia’s one-time gene-editing therapy and Pharvaris’s oral candidate deucrictibant are advancing. Chiesi will need to leverage its rare disease infrastructure to maintain Ekterly’s momentum.
For pharma operators, this deal signals growing interest in rare disease oral therapies that can replace injectables. UK and EU market access positions Ekterly as a sourcing opportunity for distributors and a model for manufacturers evaluating entry.