Lotte Group said on the 9th that Chairman Shin Dong-bin visited the Lotte Biologics Syracuse Bio Campus in New York state on the 5th to inspect the production facilities and encourage employees.
After receiving a business update on Lotte Biologics, Shin toured the ADC (antibody-drug conjugate) production facilities that began full-scale operations this year. It was Shin's first visit to the ADC facilities since they went online, and Chief Executive Park James of Lotte Biologics and Shin Yu-yeol, head of global strategy at Lotte Biologics, accompanied him.
Recently, as the U.S. government signaled a 100% tariff on imported pharmaceuticals, concerns have deepened across Korea's bio industry. However, it said corporations that have production facilities in the United States or are building them, including those that have broken ground and are under construction, would be exempt from the tariff.
Lotte Biologics has a plant in Syracuse, United States, so it is not affected by the tariff and is actively pursuing orders in the U.S. market.
Lotte Biologics entered the bio industry in 2023 by acquiring a pharmaceutical production plant in Syracuse from Bristol Myers Squibb Co. (BMS). It then invested about $100 million to build an ADC production facility, known as a next-generation biopharmaceutical, and in April this year, after signing an ADC contract with an Asia-based bio corporations, it went into full-scale operation.
Lotte Biologics' ADC production facilities can provide a range of contract development and manufacturing organization (CDMO) services from clinical development to commercial production. They are equipped with integrated production and purification lines, including a conjugation reactor with a capacity of up to 1,000 liters (L), and offer characterization services, including in-house quality control (QC) testing.
To mark the full-scale operation of the ADC facilities, Shin said, "Lotte Biologics' Syracuse Bio Campus is expected to drive growth for the entire group beyond the bio industry," adding, "In step with the expansion of ADC facilities, please work to secure additional orders for ADC and CDMO and to strengthen global competitiveness."
Leveraging the advantages of its "Dual Site" strategy, with the Syracuse campus in the United States and the Songdo Bio Campus Plant 1 slated for full-scale operations in 2027, Lotte Biologics is participating in international bio conferences around the world to expand global partnerships. This year, it took part in the "J.P. Morgan Healthcare Conference," "World ADC Asia," "BIO USA," and "BIO Japan," and in October and November, it plans to promote its global competitiveness and strengthen its network by participating in "CPhi Worldwide" in Germany and "World ADC" in the United States.