Lotte Biologics Accelerates CDMO Business... Syracuse Plant Opening Ceremony in the US

Lotte Biologics announced on the 18th that it held a plaque ceremony on the 17th (local time) to commemorate the successful acquisition of its Syracuse plant in the United States.

On the 17th (local time), the Lotte Biologics signboard ceremony was held at the Syracuse factory in New York, USA.
[Photo by Lotte Biologics]

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The company explained that this plaque ceremony was intended to officially announce the new start of the U.S. production base, boost the sense of belonging and morale of local employees, and strengthen the brand presence within the Syracuse area.

The event held at the Syracuse plant in New York State, USA, proceeded in the order of ▲ screening of an opening video ▲ greetings and company introduction ▲ congratulatory speeches ▲ ribbon cutting and unveiling ceremony ▲ commemorative photo session. Lotte Group Chairman Shin Dong-bin delivered words of encouragement and support to the Syracuse employees through the opening video, while Incheon Mayor Yoo Jeong-bok, Kim Jin-yong, head of the Incheon Free Economic Zone Authority, and Lee Jung-seok, chairman of the Korea BioPharmaceutical Association, left congratulatory video messages.

Won-jik Lee, CEO of Lotte Biologics, evaluated, "The Syracuse plant holds value beyond a simple production facility; it is the result of the valuable efforts of local employees and partner companies." He added, "Lotte Biologics aims not only to provide contract development and manufacturing organization (CDMO) services but also to promote mutual growth with small and medium bio companies through the 'Bio Venture Initiative.' We will continuously strive to become a company that positively influences the entire bio industry, providing the best services to customers and delivering necessary medicines to patients."

Michael Houseleaden, head of Lotte Biologics’ U.S. branch, said, "I am very pleased to hold an event officially welcoming us as members of Lotte," and added, "We will continue to actively cooperate with local governments and partners to become Lotte Biologics’ North American center."

About 500 local employees, along with internal executives including CEO Won-jik Lee and U.S. branch head Michael Houseleaden, as well as 70 distinguished guests such as Lee Hoon-ki, head of management innovation at Lotte Holdings, Ryan McMack, Onondaga County Executive, Ben Walsh, Mayor of Syracuse, Kent Syverud, President of Syracuse University, and partner companies attended the plaque ceremony.

Following the successful acquisition of the Syracuse plant, Lotte Biologics plans to make additional facility investments. The Syracuse plant is a facility capable of producing 35,000 liters of antibody drug substance, and through the hiring of about 70 additional employees and an investment of $48 million, it is preparing to expand production facilities and extend into finished pharmaceuticals (DP) and antibody-drug conjugates (ADC).

Last December, Lotte Biologics completed the acquisition process of the Syracuse biopharmaceutical production plant from the global pharmaceutical company Bristol-Myers Squibb (BMS).

On the 17th (local time), the Lotte Biologics plaque ceremony was held at the Syracuse factory in New York, USA.
[Photo by Lotte Biologics]

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