- LOTTE BIOLOGICS has appointed James Park, former CEO of GC Cell, as its new CEO.
- Park brings extensive experience in the pharmaceutical industry, having worked at Merck, Bristol-Myers Squibb, and Samsung Biologics.
LOTTE BIOLOGICS has announced the appointment of James Park as its new CEO, effective after an upcoming extraordinary general meeting of shareholders and a board meeting. Park, 58, brings over two decades of experience in the pharmaceutical and biotechnology industries, having held leadership positions at global companies including Merck, Bristol-Myers Squibb (BMS), and Samsung Biologics.
James Park holds a bachelor’s degree in chemical engineering from the University of California, Davis, and a master’s in industrial engineering from Columbia University. His career includes significant roles in pharmaceutical process development and quality control (CMC) at BMS, where he was involved in due diligence from preclinical stages to commercialization. At Samsung Biologics, Park played a key role in securing contract manufacturing orders with various global companies.
The company is hopeful that Park’s appointment will help solidify its position as a global leader in contract manufacturing. A representative from LOTTE BIOLOGICS stated, “We expect to lay the groundwork for a turnaround to target the global market and simultaneously establish a bridge that will smoothly connect our employees in Korea and the United States.”
Lotte Biologics, established in June 2022, is swiftly advancing toward its goal of becoming a top 10 global Contract Development and Manufacturing Organization (CDMO). The company is executing a dual strategy of acquisition and organic growth to achieve this vision. In December 2022, Lotte Biologics expanded its operations by acquiring the biopharmaceutical production facility in Syracuse, New York, previously owned by Bristol Myers Squibb. This acquisition bolstered its manufacturing capabilities and global presence. Additionally, in March 2023, Lotte Biologics broke ground on its first plant at the Songdo Bio Campus in Incheon, South Korea. The company plans to complete three plants by 2030, with full operations expected by 2034
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