The drugmaking unit of South Korea’s
Lotte Biologics made a foray into drugmaking in 2022 by acquiring a facility in Syracuse, New York, from Bristol-Myers Squibb Co. — a move that now allows the contract manufacturer to position itself as an alternative for pharmaceutical companies looking to de-risk their supply chains, Lotte Biologics Chief Executive James Park said in an interview with Bloomberg TV.
The acquisition, finalized just before President