Shin Dongbin Oversees U.S. Bio Business On-Site: "Expected to Drive Growth for the Entire Group"

Visit to Lotte Biologics Syracuse Bio Campus in the U.S.
Inspection of Newly Operated ADC Production Facility and Employee Encouragement
Accompanied by Shin Yooyeol, Eldest Son and Head of Global Strategy

Lotte Group Chairman Shin Dongbin carried out on-site management of the group's U.S. bio business during the Chuseok holiday period.

Shin Dongbin, chairman of Lotte Group, visited the Lotte Biologics Syracuse Bio Campus located in New York State, USA, on the 5th to inspect the ADC production facility, which began full-scale operation after its completion in March. Provided by Lotte Holdings

According to Lotte on October 9, Chairman Shin visited the Lotte Biologics Syracuse Bio Campus in New York State on the 5th to inspect the production facilities and encourage employees. During his visit, he received a business status report from Lotte Biologics and toured the ADC (Antibody-Drug Conjugate) production facility, which began full-scale operation this year.

This was Chairman Shin's first visit to the ADC production facility since it began operating. Park James, CEO of Lotte Biologics, and Shin Yooyeol, Head of Global Strategy at Lotte Biologics and Chairman Shin's eldest son, also accompanied him for on-site management.

Recently, the U.S. government announced plans to impose a 100% tariff on imported pharmaceuticals, deepening concerns within the domestic bio industry. However, it clarified that companies with production facilities in the United States, including those under construction or in progress, would be exempt from these tariffs. Since Lotte Biologics operates a plant in Syracuse, New York, it is not affected by the tariffs and is actively seeking orders in the U.S. market.

Shin Dong-bin, chairman of Lotte Group (front row, right), visited the Lotte Biologics Syracuse Bio Campus located in New York State on the 5th to inspect the ADC production facility, which began full-scale operation after its completion in March. Provided by Lotte Holdings

Previously, Lotte Biologics entered the bio industry in 2023 by acquiring a pharmaceutical production plant in Syracuse from Bristol Myers Squibb. The company then invested about 100 million dollars to establish an ADC production facility, considered a next-generation biopharmaceutical. After signing an ADC contract with an Asia-based bio company in April, the facility began full-scale operation.

The ADC production facility at Lotte Biologics offers a range of contract development and manufacturing (CDMO) services, from clinical development to commercial production. It features integrated production and purification lines, including a conjugation reactor with a maximum capacity of 1,000 liters, and provides characterization services, including in-house quality control (QC) testing.

To commemorate the full-scale operation of the ADC production facility, Chairman Shin stated, "I expect that the Lotte Biologics Syracuse Bio Campus will drive growth not only in the bio industry but for the entire group," and urged, "Please focus on securing additional ADC and CDMO contracts and strengthening global competitiveness in line with the expansion of the ADC production facility."

Meanwhile, Lotte Biologics is leveraging the 'dual site' advantage of its Syracuse campus in the United States and the first plant at the Songdo Bio Campus, which is scheduled to begin full operation in 2027, to expand global partnerships by participating in international bio conferences around the world. This year, the company participated in events such as the JP Morgan Healthcare Conference, World ADC Asia, BIO USA, and Bio Japan. In October and November, it plans to attend CPhi Worldwide in Germany and World ADC in the United States, aiming to showcase its global competitiveness and strengthen its network.