Lotte Biologics will produce biosimilars for Icelandic biopharmaceutical company Alvotech at its facility in Syracuse, New York.
On October 7, Lotte Biologics announced that it signed a contract for contract manufacturing of biosimilars with Alvotech during the CPHI Milan 2026, the world's largest pharmaceutical and biotech exhibition held in Milan, Italy. The signing ceremony was attended by Lotte Biologics CEO Park Jae-myeong, Alvotech Chairman Robert Wessman, and CEO Lisa Graber. The contract amount and duration were not disclosed.
Under this agreement, Lotte Biologics will manufacture active pharmaceutical ingredients for several antibody biosimilars developed by Alvotech at its Syracuse facility. The products will be supplied to the global market, and both companies plan to expand their collaboration further.
Alvotech specializes in the development and production of biosimilars, focusing on treatments for autoimmune and ophthalmic diseases. This contract allows Alvotech to add a production base in the U.S. to its existing facilities and partners, enhancing its supply chain to meet growing global demand and expand its product portfolio.
The Syracuse facility, which Lotte Biologics acquired from Bristol-Myers Squibb (BMS) in 2023, features a commercial production facility equipped with 40,000-liter bioreactors. It also has in-house capabilities for process development and quality control. The company recently reported that it passed an unannounced inspection by the U.S. Food and Drug Administration (FDA) without any issues.
Industry experts view this contract as a success of Lotte Biologics' 'dual site' strategy, which combines the Syracuse facility with its Incheon Songdo Bio Campus, which received manufacturing approval in June. This strategy allows clients to choose production in either the U.S. or South Korea, responding to increased demand for local production from global pharmaceutical companies due to U.S. drug tariff pressures, thereby highlighting the value of the Syracuse facility.
So far this year, Lotte Biologics has secured five new contracts. The Songdo facility is set to complete its 'GMP Ready' preparations by the end of the year, with a completion ceremony scheduled for November.
CEO Park Jae-myeong stated, "The synergy between Alvotech's biosimilar development capabilities and Lotte Biologics' commercial production capabilities has established a strong partnership. We will focus on supporting a flexible dual site production system optimized for the global supply chain."
* This article has been translated by AI.
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