Lotte Holdings "Lotte Biologics Decides to Establish U.S. Corporation for CDMO Business"
[Asia Economy Reporter Lee Myunghwan] Lotte Holdings announced on the 4th that its subsidiary, Lotte Biologics, has decided to establish a U.S. corporation in Delaware to operate its bio CDMO business.
The U.S. corporation is named 'Lotte Biologics USA, LLC,' and its representative is Lee Wonjik, former CEO of Lotte Biologics.
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Lotte Holdings stated, "The U.S. corporation is a wholly owned subsidiary of Lotte Biologics, established with an initial capital of 10 dollars," adding, "We plan to increase the capital to acquire pharmaceutical manufacturing plants from Bristol-Myers Squibb Company in the U.S., and will re-announce once finalized."
This content was produced with the assistance of AI translation services.
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