Chiesi Group to Acquire KalVista Pharmaceuticals in $1.9 Billion Cash Deal

Apr 29, 2026 12:08 UTC

KALV

Immediate term

Italian pharmaceutical leader Chiesi Group has reached an agreement to acquire U.S.-based rare disease developer KalVista Pharmaceuticals. The all-cash transaction is valued at approximately $1.9 billion.

Acquisition valued at nearly $1.9 billion
Transaction structured as an all-cash deal
KalVista shares jumped ~39% in premarket trading
Chiesi Group expands rare disease portfolio

KalVista Pharmaceuticals (KALV) shares surged in premarket trading following the announcement that Italy's Chiesi Group will acquire the company in an all-cash transaction. The deal, valued at nearly $1.9 billion, integrates KalVista's rare disease drug development pipeline into Chiesi's broader pharmaceutical portfolio. The market responded aggressively to the news, with KALV shares climbing approximately 39% as investors priced in the acquisition premium. This move allows Chiesi to expand its footprint in the rare disease space by leveraging KalVista's specialized research and development capabilities. This acquisition underscores the ongoing trend of larger pharmaceutical firms absorbing specialized biotech developers to secure innovative pipelines. The all-cash nature of the deal provides immediate liquidity to KalVista shareholders while consolidating Chiesi's position in the global healthcare market.