HK Stock Market Move | UNITED LAB (03933) rose more than 8% as institutions indicated that UBT251 has the potential to reduce weight with GLP-1 drugs.

UNITED LAB (03933) surged more than 8%, rising 8.04% to HKD 16.66 as of the time of writing, with a turnover of HKD 4.67 billion. In terms of news, UNITED LAB recently announced that it plans to issue 156 million new shares at a subscription price of HKD 14.16 per share, representing a discount of approximately 7.93% compared to the previous day's closing price. The shares to be issued represent approximately 7.91% of the expanded issued share capital. The company stated that the net proceeds from the subscription project are expected to be around HKD 2.168 billion, with approximately HKD 1.301 billion to be used for capital expenditure on construction and expansion of production facilities, strengthening external cooperation, expanding international business, and other general corporate purposes; and approximately HKD 867 million for the research and development of innovative candidate products, including the clinical trials of UBT251 and other products in development. Cathay Haitong pointed out that the triple-target injectable UBT251 has BIC potential and has reached a major authorization agreement with Novo Nordisk. In March 2025, Federal Pharma reached an exclusive licensing agreement with Novo Nordisk for the GLP-1R/GIPR/GCGR triple-target excitant UBT251, with an initial payment of USD 200 million (already received according to the announcement on June 20) and potential milestone payments of up to USD 1.8 billion, as well as tiered sales royalties based on annual net sales in the region. The bank believes that UBT251 has the potential to have GLP-1 drug weight loss effects, and with the joint development with global leader Novo Nordisk, it is expected to fully realize the value of the drug.