Lotte Group Chairman Inspects Syracuse Biologics Facility Amid U.S. Tariff Concerns

[Hinews] 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 employees. This marked his first visit since the campus began full-scale operations of its antibody-drug conjugate (ADC) production facility. During the visit, Shin was briefed on local operations and inspected the production process, accompanied by Lotte Biologics CEO James Park and Global Strategy Head Yoo-yeol Shin.

The visit comes as the U.S. government signals plans to impose 100% tariffs on imported pharmaceuticals, raising concerns among South Korea’s biotech industry. However, companies with U.S.-based production facilities, like Lotte Biologics, are expected to be exempt. Leveraging its Syracuse plant, Lotte Biologics is accelerating efforts to secure more contracts in the U.S. market.

Lotte Biologics entered the biotech sector in 2023 by acquiring a pharmaceutical manufacturing facility in Syracuse from Bristol Myers Squibb (BMS). The company invested approximately $100 million to establish a state-of-the-art ADC production line, which began operations in April after securing its first contract with an Asian biotech firm.



The Syracuse facility now offers comprehensive contract development and manufacturing organization (CDMO) services, supporting both clinical and commercial ADC production. Equipped with integrated production and purification lines, including a 1,000-liter conjugation reactor, the campus also conducts in-house quality control (QC) testing and characterization services.

“The Syracuse bio-campus is poised to drive growth not only for Lotte Biologics 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 pursuing a “dual-site” strategy, combining its Syracuse campus with a new facility in Songdo, South Korea, set to begin operations in 2027. The company has actively engaged in global outreach, participating in major industry events such as the JP Morgan Healthcare Conference, World ADC Asia, Bio USA, and Bio Japan. It plans to further expand partnerships at upcoming events, including CPhI Worldwide in Germany and World ADC in the U.S., scheduled for October and November.