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Outsourcing

Lotte to acquire Bristol Myers Squibb plant in New York State

by Rick Mullin
May 20, 2022 | A version of this story appeared in Volume 100, Issue 18
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Lotte will acquire Bristol Myers Squibb’s facility in East Syracuse, New York, for $160 million. Lotte will use the site to establish a North American center for its biologics contract development and manufacturing service. Lotte plans to retain the site’s workforce and continue making products for BMS. The South Korean conglomerate has stated that it intends to invest $1.9 billion in its biologics business over the next 10 years.

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