Daily Brief Health Care: Laboratory Corporation of America Holdings, SanBio Co Ltd, Shenzhen Hipine Precision Technology and more

In today’s briefing:

LH US – Labcorp: Is The Innovative Testing & Specialty Growth Here To Stay?
SanBio Co Ltd (4592 JP): Akuugo Approval Awaited; Plans Negotiation for Ischemic Stroke Trials
Pre-IPO Shenzhen Hipine Precision Technology (PHIP Updates) – Some Points Worth the Attention

LH US – Labcorp: Is The Innovative Testing & Specialty Growth Here To Stay?

Laboratory Corporation of America Holdings (Labcorp) reported strong financial results for the second quarter of 2025.
The company delivered double-digit top-line growth, with total revenue reaching $3.5 billion, representing a 10% increase compared to the previous year.
This growth was driven by both its Diagnostic Laboratories and Biopharma Laboratory Services (BLS) segments.

SanBio Co Ltd (4592 JP) incurred ¥1.3B R&D expenses (+31% YoY) in H1FY26 related to receiving approval of partial changes to the items approved for manufacture and marketing for Akuugo.
Operating loss went up to ¥1.9B in H1FY26 from ¥1.6B in H1FY25. SanBio revised FY26 guidance of operating loss to ¥3.9B (vs ¥3.5B) and net loss to ¥4.0B (vs ¥3.6B).
Partial change application already filed and the approval is expected in H2FY26. Plans to negotiate with regulatory authorities in Japan and US toward new clinical trials for chronic ischemic stroke.

Although high gold price helps drive revenue growth as Hipine generally adjusts selling prices, consumer sentiment and demand for purchasing non-essential items such as precious metal watch would be suppressed.
The biggest challenge is that ceiling in gold watch industry is not high. It’s not easy to create new imagination space in a segmented market, which would affect valuation expansion.
Due to the concerns on the future growth potential and profitability, we’e not optimistic about the outlook of Hipine. We think the valuation of Hipine could be lower than peers.

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