Global Briefs: Chiesi, Lilly, AbbVie & More
A roundup of news from the large and mid-sized bio/pharmaceutical companies featuring Chiesi Group, Eli Lilly and Company, AbbVie and Teva. Highlights below.
For the latest news roundup on small and Emerging Pharma companies, see Biotech Briefs.
M&A News
* Chiesi To Acquire KalVista for $1.9 Bn
* Teva To Acquire Emalex Biosciences in $900-M Deal
Partnering News
* Lilly, Profulent in $2.3-Bn AI-Enabled Genetic Medicines Pact
* AbbVie, Kestral in $1.45 Bn Small-Molecule Oncology Drug Pact, Potential Acquisition
M&A News
Chiesi To Acquire KalVista for $1.9 Bn
Chiesi Group, a Parma, Italy-based bio/pharmaceutical company, has agreed to acquire KalVista Pharmaceuticals, a Framingham, Massachusetts-based commercial-stage bio/pharmaceutical company, for $1.9 billion.
KalVista’s lead product is Ekterly(sebetralstat) for treating hereditary angioedema, a rare genetic disease resulting in episodes of tissue swelling in various locations of the body.Following its launch in the US in July 2025,sebetralstat reached 2025 sales of $49 million. In addition to the US, the drug is approved in the UK, European Union, Japan, Switzerland, Australia, and Singapore, with multiple regulatory applications under review in other markets. Studies for treating HAE attacks in children aged 2 to 11 are ongoing, with a US regulatory filing planned for 2026 to expand use to children aged 2–11.
Under the agreement, Chiesi will commence a tender offer to acquire all outstanding shares of KalVista for $27.00 per share in cash for an approximate value of $1.9 billion. The transaction was unanimously approved by both Chiesi’s and KalVista’s Boards of Directors and is expected to close in the third quarter of 2026, subject to the satisfaction of customary closing conditions.
Source: Chiesi Group
Teva To Acquire Emalex Biosciences in $900-M Deal
Teva Pharmaceuticals has agreed to acquire Emalex Biosciences, a Chicago, Illinois-based bio/pharmaceutical company, in a deal worth up to $900 million ($700 million upfront and $200 million in milestone payments).
The acquisition includes Emalax’s lead asset, ecopipam, a treatment for Tourette syndrome, a neurodevelopmental disorder characterized by sudden, involuntary movements and/or sounds, currently in Phase III studies. Ecopipam is expected to have a new drug application submission in the second half of 2026.
Upon closing, Teva will pay $700 million, and Emalex’s shareholders will be eligible to receive up to $200 million based on future commercial milestones as well as royalties on global net sales of ecopipam, subject to regulatory approval.
The transaction is subject to customary closing conditions, including receipt of necessary regulatory approvals, and is anticipated to close by the third quarter of 2026.
Source: Teva Pharmaceuticals
Partnering News
Lilly, Profulent in $2.3-Bn AI-Enabled Genetic Medicines Pact
Eli Lilly and Company has entered an agreement with Profluent, an Emeryville, California-based company using AI for protein design, to develop and commercialize custom site-specific recombinases, custom enzymes programmed to target exact locations in the genome, in a deal worth up to $2.25 billion.
The collaboration focuses on enabling large-scale DNA editing capabilities. Large-scale DNA editing involves the ability to insert long stretches of DNA, sometimes entire genes, at precise locations in the genome. Many genetic diseases are caused by multiple different mutations across patient populations rather than a single mutation, according to information from Profluent. This heterogeneity makes it difficult to develop targeted therapies that work for all patients. Traditional approaches rely on finding naturally occurring enzymes that happen to work at target sites. Profluent is using AI to create designer recombinases or custom enzymes programmed to target exact locations in the genome. By combining Profluent’s AI models with Lilly’s clinical and developmental capabilities in genetic medicines, the companies aim to expand the scope and scalability of programmable gene-editing therapeutics.
Under the agreement, Profluent will apply its AI models to design and optimize site-specific recombinases for multiple genomic targets. Lilly will receive an exclusive license to advance selected recombinases through in vivo research, preclinical development, clinical studies, and commercialization.
Profluent will receive an upfront payment in addition to committed research and development funding. In total, Profluent is eligible to receive up to $2.25 billion in development and commercial milestone payments plus tiered royalties on net sales.
Source: Profluent
AbbVie, Kestral in $1.45 Bn Small-Molecule Oncology Drug Pact, Potential Acquisition
AbbVie has entered an agreement with Kestrel Therapeutics, a Watertown, Massachusetts-based clinical stage bio/pharmaceutical company developing small-molecule therapies that address oncogenic drivers of cancer with a focus on inhibitors of mutated KRAS proteins, in a deal worth up to $1.45 billion.
KRAS is estimated to be mutated in approximately 20% of all malignancies, according to information from Kestrel Therapeutics. The company’s lead candidate, KST-6051 offers the potential to treat a broad spectrum of KRAS-driven solid tumors.
The deal with AbbVie is structured as a warrant agreement with an exclusive option for AbbVie to acquire Kestral. Under the agreement, AbbVie will support funding of the KST-6051 program and based on the completion of development and regulatory milestones will have the exclusive option to acquire Kestrel. Including the upfront payment, future exercise payments and downstream development and regulatory milestones, the value of the deal could reach up to $1.45 billion.
Source: Kestrel Therapeutics
