Huons Group and Lotte Biologics Sign Business Agreement for Collaboration in Biopharmaceutical Production

Song Su-young, CEO of Huons Global (left), and Lee Won-jik, CEO of Lotte Biologics, are signing a business agreement and posing for a commemorative photo.

[Asia Economy Reporter Lee Gwan-ju] Lotte Biologics and Huons Group have joined hands to embark on a full-scale move to enter the global biopharmaceutical market.

On the 28th, Lotte Biologics and Huons Global held a signing ceremony at the Huons Group headquarters in Pangyo, Seongnam-si, Gyeonggi Province, and announced the signing of a memorandum of understanding (MOU) for clinical and commercial production of biopharmaceuticals.

This agreement centers on the biopharmaceutical production plant of Bristol-Myers Squibb (BMS) in Syracuse, New York, USA, which Lotte Biologics is scheduled to acquire. Huons Global plans to commercialize clinical trial drugs for overseas export and commercial production drugs of biopharmaceuticals currently under research and development through this plant. The plant has experience with GMP approval in more than 62 countries and is capable of providing services throughout the entire production and quality process, including scale-up, process development, biopharmaceutical bulk production, and analytical testing.

Additionally, the active pharmaceutical ingredients produced by Lotte Biologics for Huons Group will be used to manufacture finished products at Huons Group’s FDA-approved plant in the United States.

Lee Won-jik, CEO of Lotte Biologics, said, “We are very pleased to sign an agreement related to biopharmaceutical production with the global healthcare company Huons Group, and we will actively utilize the experienced local workforce in Syracuse, USA, to contribute to the successful overseas expansion of domestic bio developers.”

Song Soo-young, CEO of Huons Global, stated, “We are very honored to cooperate with Lotte Biologics on biopharmaceutical clinical trials and production. We will focus our capabilities to create positive synergy,” adding, “Based on close mutual cooperation, we will promote clinical advancement of biopharmaceuticals and expand our influence in the global market.”

This content was produced with the assistance of AI translation services.