United Laboratories reports strong interim profit growth, driven by finished products

United Laboratories International Holdings Limited reported revenue of 7,518.7 million yuan for the first half of 2025, a 4.8% increase year-on-year. Gross profit rose by 17.3% to 3,923.9 million yuan, with EBITDA up 23.3% to 2,752.1 million yuan. Profit attributable to owners of the company surged by 27.0% to 1,894.3 million yuan, resulting in basic earnings per share of 104.26 cents. The board recommended an interim dividend of 16 cents per share, consistent with the previous year.

The finished products segment was a key growth driver, with revenue reaching 3,978.5 million yuan (including license fee income of 1,433.9 million yuan), a 65.9% increase year-on-year, accounting for 52.9% of total revenue. Segmental profit for finished products increased by 524.2%. However, intermediate products and bulk medicine segments saw external sales decrease by 23.1% and 27.0% respectively, with their segmental profits declining by 40.6% and 52.0% respectively.

Significant R&D progress included the implied approval for phase II clinical trial of UBT251 Injection (Class-I new drug) by NMPA and FDA, and the acceptance of Semaglutide Injection NDA by NMPA. The group also entered an exclusive license agreement with Novo Nordisk A/S for UBT251, with potential payments up to $1.8 bn.