Lotte Pays $160M for Bristol Myers Biologics Plant

Lotte will continue to manufacture BMS’ biologics as part of the deal that will close in the second half of the year.

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A recent FiercePharma article discussed the acquisition of a Bristol Myers Squibb plant in East Syracuse, New York. South Korean conglomerate Lotte will pay $160 million for the production facility, which will act as the hub for its North American operations. As part of the deal, which should close later this year, Lotte will continue the production of biologics for GMS as part of a “newly-established CDMO relationship.” Lotte will obtain the New York facility’s operations and assets, which includes property, equipment and workforce.

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