Lotte Holdings Acquires Pharmaceutical Manufacturing Plant Worth 206 Billion KRW

[Asia Economy Reporter Lee Jung-yoon] Lotte Corporation announced on the 13th that it has decided to acquire a pharmaceutical manufacturing plant located in New York State, USA, from Bristol-Myers Squibb Company for 206 billion KRW. The purpose of the acquisition is to enter the bio sector and for investment, with the acquisition amount accounting for 0.01% of total assets.

Additionally, it announced an investment of 10.4 billion KRW in Lotte Biologics, a pharmaceutical manufacturing company. The purpose is to establish a new corporation for the bio new business. The company stated, "This is an investment in Lotte Biologics, a new corporation planned to be established for the bio new business."