Lotte Biologics names new CEO for global business expansion

Lotte Biologics has named a new chief executive officer with expertise in the biopharmaceutical field in a move to strengthen its competitiveness in the global market, its parent Lotte Group said Monday.

James Park, former CEO of Korean biopharma GC Cell, was nominated as the new head of Lotte Biologics, according to the company.

Park had worked for a number of global big pharmas, including Merck and Bristol Myers Squibb, as well as Korea's leading contract development and manufacturing organization, Samsung Biologics.

Lotte Biologics said it expects Park's appointment to help the company expand its global business.

Park is expected to be officially appointed as Lotte Biologics' new CEO after a shareholders' meeting. (Yonhap)