Richard Lee, CEO of LOTTE BIOLOGICS, Visits Lithuania to Establish Foothold for Biotech Industry Cooperation

■ Participates in ‘Life Science Baltics,’ the Largest Biotech and Pharmaceutical Forum in the Baltic Sea Region 

■ Strengthens LOTTE BIOLOGICS’ Global Reach through Meeting with Lithuanian Prime Minister and by Participating in ‘Korea-Lithuania Biotech Industry Round Table’

LOTTE BIOLOGICS announced on September 21st that CEO Richard Lee recently visited Lithuania, located on the northeastern coast of the Baltic Sea, to explore avenues for biotech industry collaboration.

Lithuania, along with Latvia and Estonia, is one of the three countries known as the Baltic States, and among them, Lithuania has the largest population and land area. The Korean government has recently been exerting efforts to strengthen economic cooperation between the two countries, including discussions on enhancing collaboration in cutting-edge industries. More specifically, many Korean companies view Lithuania as a gateway to the European market, given its manufacturing-based export-oriented economy.

According to LOTTE BIOLOGICS, Lee gave a keynote speech at ‘Life Science Baltics,’ held on the 20th (local time) of September in Vilnius, the capital of Lithuania. The ‘Life Science Baltics’ forum is the largest biotech and pharmaceutical industry event in the Baltic Sea region, organized by the Ministry of the Economy and Innovation of Lithuania. This year, about 800 people from 40 countries were expected to attend.

At the forum, Lee spoke on ‘How the Challenge of an Aging Population is Fueling the Rise of Automation and Advanced Therapies: The Case Study of Asia.’ The speech touched on similarities between Korea and Lithuania and discussed the increasing demand for high-quality biopharmaceuticals due to a rise in disease prevalence related to an aging population while emphasizing the importance of automation systems for the seamless supply of pharmaceuticals. Lee added that LOTTE BIOLOGICS plans to proactively implement data analytics and manufacturing technology automation systems for enhanced manufacturing efficiency and quality management, under its vision to supply medicine for a healthier world.

In addition, during his visit to Lithuania, Lee held a meeting with Ingrida Šimonytė, the Prime Minister of Lithuania, and participated in the ‘Korea-Lithuania Biotech Industry Roundtable’ attended by business and government officials from both countries. Through Lee’s proactive initiatives, LOTTE BIOLOGICS has established a foundation for strong collaboration in the biotech industry between the two countries and is systematically building up a global business network.

Lee stated, “Through this visit to Lithuania, we aim to accelerate biotech industry collaboration and enhance bilateral friendship, and we expect both countries will achieve forward-looking development.”

Meanwhile, Lee is scheduled to attend the ‘Pharma Forum 2023,’ hosted by Optima Pharma, a leading German pharmaceutical equipment manufacturer, on the 21st (local time) to discuss the latest technology trends and perspectives in the Drug Product sector with a host of leading industry experts.