롯데바이오, 송도 공장 완공…이제 ‘수주 확보’ 관건

[Anchor] Lotte Biologics has completed the construction of its first bio plant in Songdo, Incheon, and has begun preparations for full-scale operation. While the first hurdle of securing production facilities has been cleared, the challenge now remains to secure clients to fill the production lines. Reporter Lee Seul-bi reports. [Reporter] Lotte Biologics has completed the construction of Plant 1 at its Songdo Bio Campus and has applied for approval of use from the Incheon Free Economic Zone Authority. Lotte Biologics entered the CDMO (Contract Development and Manufacturing Organization) business in 2022 by acquiring the Syracuse plant in the U.S. from the global pharmaceutical company BMS (Bristol-Myers Squibb). However, the production capacity secured at the time was limited to 40,000 liters, placing a limit on outward expansion. The company began construction of a 120,000-liter plant in Songdo in 2024, and with this completion, it has raised its production capacity to the next level. However, the burden of this large-scale investment led to a deterioration in performance. Although the company posted a profit in 2023 with an operating profit of 26.6 billion won, it turned to a deficit of 80.1 billion won the following year, and the scale of losses expanded to 132.6 billion won by 2025. The company has high expectations for the Songdo plant. It has presented a mid-to-long-term goal to improve performance after operations begin, achieve 1.5 trillion won in revenue by 2030, and leap forward as a global top 10 CDMO company. Once the approval process is completed, commercial production is expected to be possible by the first half of next year at the latest. The remaining challenge now is securing orders. It is reported that there are no confirmed clients yet. The industry has continuously expressed concerns about the gap in orders. This is because the CDMO business is a representative "reference" industry that places great importance on existing production track records and manufacturing experience. It also took Samsung Biologics about a year to secure its first client following the completion of its Plant 1. A Lotte Biologics official stated, "We are actively discussing large-scale commercial production with potential clients," adding, "Various clients are conducting on-site inspections of the Songdo plant." The problem is time. As the Syracuse plant in the U.S. recently began facility modernization, its capacity utilization rate dropped from 81% last year to 14% in the first quarter of this year. If securing new orders is delayed, the burden on earnings is inevitable. Lotte Biologics is also considering the construction of additional Plants 2 and 3 in the future. Ultimately, the order performance of Plant 1 is expected to determine the company's mid-to-long-term growth strategy. This is Lee Seul-bi from Seoul Economic TV. / [email protected] [Video Editing: Yoo Yeon-seo]