Lotte Biologics Bets Drugmakers Will Shift Orders Out of China

The drugmaking unit of South Korea’s Lotte Group is betting on growth from a global shift in pharmaceutical production away from Chinese players amid rising geopolitical tension and tariff uncertainties.

Lotte Biologics made a foray into drugmaking in 2022 by acquiring a facility in Syracuse, New York, from Bristol-Myers Squibb Co. — a move that now allows the contract manufacturer to position itself as an alternative for pharmaceutical companies looking to de-risk their supply chains, Lotte Biologics Chief Executive James Park said in an interview with Bloomberg TV.

The acquisition, finalized just before President Donald Trump threatened tariffs on patented ...