LOTTE to acquire manufacturing facility of Bristol Myers Squibb.

LOTTE, a South Korean multinational conglomerate corporation encompassing four key business areas including Food & Beverage, Retail, Chemical, Hotel & Service with more than 90 affiliates, agreed to acquire a manufacturing facility of Bristol Myers Squibb, an American multinational pharmaceutical company. Financial terms are not disclosed. "The East Syracuse site has been an important part of our company’s history and our manufacturing network for many decades, and we are confident that LOTTE will fully leverage the facility, its capabilities and its experienced workforce as it continues to play a vital role for patients around the world. We have taken a thoughtful approach to this decision and are confident this will best support the continued evolution of our manufacturing network and our mission to deliver innovative medicines that help patients prevail over serious diseases," Karin Shanahan, Bristol Myers Squibb Executive Vice President of Global Product Development and Supply.