United Laboratories receives $180m from Novo Nordisk

The United Laboratories International Holdings (HKEX: 3933) announced it has received an upfront payment of US$180 million from Novo Nordisk on June 20, 2025, under the Exclusive License Agreement for UBT251. The payment, received by United Biotechnology (聯邦生物科技(珠海橫琴)有限公司), is net of Danish withholding tax. UBT251 is described as a triple agonist of the receptors of GLP-1, GIP, and glucagon, in clinical study for the treatment of obesity, type 2 diabetes and other diseases. Under the terms of the agreement, United Biotechnology is eligible for potential milestone payments of up to US$1.8 billion, contingent upon the achievement of specified development and sales milestones, plus tiered royalties based on annual net sales in the Territory.