KalVista Pharmaceuticals

Money Moves

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For decades, people with hereditary angioedema have had only one option when an attack hits: injecting themselves, often in panic, to stop swelling that can close their airway. Last summer, a pill changed that. On Tuesday, Italian drugmaker Chiesi Farmaceutici agreed to buy the pill's maker, KalVista Pharmaceuticals, for about $1.9 billion in cash—the largest acquisition in Chiesi's 90-year history.

Updated 2 hours ago