HK Stock Market Move | UNITED LAB (03933) rises over 3%. Federal Biotechnology has received milestone payment related to the exclusive licensing agreement for Novartis UB251.
Federal Pharmaceutical (03933) rose by more than 3%, as of the time of publication, it increased by 3.03% to HK$9.51, with a trading volume of HK$64.1872 million.
UNITED LAB (03933) rose more than 3%, as of the time of this report, it was up 3.03% at HK$9.51, with a turnover of HK$64,187,200.
In terms of news, UNITED LAB announced that on July 15, 2026, Federal Biotech has received a milestone payment of $13.5 million USD (after deducting the Danish prepayment tax) from Novo Nordisk for UBT251 injection for the treatment of overweight or obesity indication in Phase I clinical trials.
Under the exclusive licensing agreement and subject to its terms and conditions, Federal Biotech is eligible to receive up to $1.8 billion USD in potential milestone payments, depending on the achievement of certain development and sales milestones, as well as tiered sales royalties based on annual net sales in that region.
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