Lotte Group Chairman Inspects Syracuse Biologics Campus, Signals Robust U.S. Expansion

[medi・K / HEALTH IN NEWS] Shin Dong-bin, chairman of South Korea’s Lotte Group, visited the Lotte Biologics bio campus in Syracuse, New York, to review its production facilities and encourage its workforce. This marked his first visit since the facility began full-scale operations for antibody-drug conjugate (ADC) production, a rapidly advancing segment of biopharmaceuticals. During the visit, Shin received updates on local operations and personally inspected the production processes, joined by Lotte Biologics CEO James Park and Global Strategy Head Yoo-yeol Shin.

The visit comes amid growing concerns in South Korea’s biotech sector over the U.S. government’s proposed 100% tariff on imported pharmaceuticals. However, companies like Lotte Biologics, with manufacturing facilities already established or under construction in the U.S., are expected to be exempt from these tariffs. Leveraging its Syracuse plant, Lotte Biologics is accelerating efforts to secure more contracts within the U.S. market.

Lotte Biologics entered the biotech industry in 2023 by acquiring a pharmaceutical manufacturing facility in Syracuse from Bristol Myers Squibb (BMS). Since then, the company has invested approximately $100 million to establish an ADC production facility, which began operations in April this year after securing its first contract with an Asian biotech firm. ADCs, which combine antibodies with potent drugs to target cancer cells, are increasingly seen as a cornerstone of next-generation biopharmaceuticals.

Lotte Group Chairman Shin Dong-bin (second from left) visits the Lotte Biologics Syracuse Bio Campus in New York on October 5, inspecting the ADC production facility, which began full-scale operations following its completion in March. (Photo provided by Lotte Group)

The Syracuse facility offers comprehensive contract development and manufacturing organization (CDMO) services, supporting both clinical and commercial-scale production. It features an integrated production and purification line, including a conjugation reactor with a capacity of up to 1,000 liters, and provides in-house quality control testing and characterization services.

“Lotte Biologics’ Syracuse bio campus holds the potential to drive growth not only for our biotech division but for the entire Lotte Group,” Chairman Shin said. He urged the team to focus on expanding ADC production capacity, securing additional CDMO contracts, and strengthening global competitiveness.

Lotte Biologics is also pursuing a “dual-site” strategy, combining its Syracuse campus with a new bio campus in Songdo, South Korea, set to begin operations in 2027. This approach aims to build a robust global network. The company has actively engaged in major international biotech events this year, including the JP Morgan Healthcare Conference, World ADC Asia, Bio USA, and Bio Japan. It plans to further expand its global partnerships at upcoming events, such as CPhI Worldwide in Germany and World ADC in the U.S., scheduled for October and November.

Sora Song / press@themedik.kr

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