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Calliditas Therapeutics is a commercial-stage biopharmaceutical company based in Stockholm, Sweden, specializing in the development and commercialization of novel treatments for orphan diseases with significant unmet medical needs. The company's flagship product, Tarpeyo (budesonide) delayed release capsules, is the first and only FDA-approved treatment indicated to reduce the loss of kidney function in adults with primary IgA nephropathy (IgAN). Calliditas leverages its proprietary Targeted Release System (TARS) to deliver potent compounds to specific sites in the gastrointestinal tract, minimizing systemic exposure. Beyond its lead product, the company is advancing setanaxib, a first-in-class NADPH oxidase (NOX) 1 and 4 inhibitor, through clinical trials for indications including primary biliary cholangitis (PBC) and Alport syndrome. In 2024, Calliditas was acquired by Asahi Kasei Corporation for approximately $1.1 billion, becoming a key component of the Japanese conglomerate's global renal and orphan drug strategy.