TacticScaleWhat United Laboratories International Does & How It Makes Money (3933.HK)
Updated October 2026 · reflects United Laboratories International's latest reported financials
Chinese antibiotic, insulin and veterinary drug maker. It earns revenue by manufacturing and selling bulk active pharmaceutical ingredients (such as 6-APA and penicillin G potassium), intermediate products, and finished drugs to pharmaceutical makers, hospitals and distributors.
How United Laboratories International makes money
It earns revenue by manufacturing and selling bulk active pharmaceutical ingredients (such as 6-APA and penicillin G potassium), intermediate products, and finished drugs to pharmaceutical makers, hospitals and distributors. Additional income comes from health and wellness products and animal medicines.
What United Laboratories International does
The United Laboratories International is a Hong Kong-headquartered pharmaceutical group founded in 1990. It operates across the drug value chain through three segments: bulk medicine, intermediate products and finished products. It is best known for penicillin-based antibiotics, supplying key ingredients such as 6-APA and penicillin G potassium as well as amoxicillin. Beyond antibiotics, its finished-drug portfolio covers endocrine and metabolic treatments such as insulin, anti-infectives, eye drugs and topical skin treatments. It also sells health and wellness products, including dietary supplements, cross-border nutrition products and medical skincare. Another business develops and sells medicines for livestock, poultry, aquatic animals and pets. China is its main market, and it also sells in India, Europe, the Middle East, South America and other parts of Asia.
Products & services
- Amoxicillin
- 6-aminopenicillanic acid (6-APA)
- Penicillin G potassium
- Insulin series
- Ophthalmic drugs
- Veterinary and pet medicines
What is United Laboratories International worth?
On an owner-earnings DCF, United Laboratories International's most-likely value is about HK$3 versus a recent price near HK$7 (154% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~HK$2) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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