As per the agreement, Korean drugmaker Lotte and MilliporeSigma, the life sciences division of Merck, plan to work towards supplying raw materials and solutions for biopharmaceutical development and manufacturing, creating a reliable supply chain, and developing support for the 'Bio Venture Initiative' at the Songdo Bio Campus in Korea.
“This collaboration with Merck is significant as it represents a win-win strategy that will help South Korea become a global leader in biopharmaceuticals beyond Songdo and Daejeon. We will strive to make Lotte Biologics a key player in the global CDMO market through this active partnership with Merck,” said Lee Won Jik, CEO of Lotte Biologics.
Lotte first named MilliporeSigma as its preferred bioprocess vendor in the US in 2022. The Korean firm entered the US market through the acquisition of Bristol-Myers Squibb’s facility in East Syracuse, New York, bagging a manufacturing contract with the former owners as part of the deal in May 2022.
“With decades of presence in this fast-growing region, we are committed to driving scientific progress that impacts life and health. We are proud of the impact we are creating in South Korea and look forward to strengthening our collaboration with Lotte Biologics,” said Sebastian Arana, EVP of Merck Global Process Solutions Business.
In January 2024, Lotte unveiled plans to invest $3 billion over the next seven years to construct three ‘mega’ plants in Songdo, Korea with a production capacity of 360,000 L. At the time of announcement, the firm said each plant is said to produce 120,000 L of antibody drugs and was expected to begin full-scale operations by 2034.
Meanwhile, MilliporeSigma has invested over €300 million ($326 million) to construct a bioprocessing production center in Daejeon, South Korea, in March. The 43,000 square-meter center is the contract development manufacturing organization’s (CDMO’s) largest investment in the Asia-Pacific (APAC) region to date.
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