Oil Prices Slide Further Amid OPEC+ Output Hike and Trump Tariffs 
U.S. Refiners Plunge as Tariff Fears Trigger Market Selloff and Demand Concerns 
Elon Musk’s Lawsuit Against OpenAI Heads to Jury Trial in 2026 
Japan Stocks Plunge Amid Trump’s New Tariffs and Auto Import Crackdown 
Nintendo Delays U.S. Pre-Orders for Switch 2 Amid Tariff Concerns 
TikTok Deal Stalls Amid Trump’s Tariffs and China’s Retaliation 
Rite Aid Considers Second Bankruptcy Amid Ongoing Financial Struggles 
GSK and Pfizer Drop RSV Vaccine Patent Lawsuit 
China’s Teapot Refiners See Modest Recovery Amid Sanctions and Weak Fuel Demand 
Medicare Declines Coverage Expansion for Obesity Drugs Like Wegovy and Zepbound 
Dollar Slips as Tariff Tensions Rise, Markets Eye Jobs Report and Fed Speech 
Saudi Arabia Slashes May Oil Prices for Asia Amid OPEC+ Output Hike 
SpaceX, ULA, and Blue Origin Win $13.5B in Space Force Launch Contracts 
Japan Urges Tariff Relief as U.S. Duties Threaten Economic Growth 
China’s Tariffs Push Soybean Trade Towards Brazil, Hitting U.S. Exports 
Bally’s to Acquire Control of Star Entertainment in $150M Rescue Deal 
Lotte Biologics has inked a memorandum of understanding (MOU) with Roche Diagnostics to bolster its Contract Development and Manufacturing Organization (CDMO) capabilities. This collaboration signifies major diagnostics, hardware, and automation advancements for Lotte's upcoming Korean production plants.
On Wednesday, Aug. 9, Lotte Biologics said it will work with Roche Diagnostics to improve the productivity and quality of its productions. The company said they would also team up to establish hardware and automation systems for Lotte's upcoming production plants in Korea, as per Korea Joongang Daily.
The MOU was signed at Roche Diagnostics CustomBiotech Center in Penzberg, Germany. Lotte Biologics' chief executive officer, Richard Lee; Roche Diagnostics CustomBiotech's vice president, Rainer Mueller; and Roche Diagnostics Korea's general manager, Kit Tang, were all present at the signing ceremony.
With the deal in place, Lotte Biologics aims to amplify its credibility with future global clients. The agreement will also serve as the forefront to underpin and shore up Roche Diagnostics' supply network in the Asian market. This will also give better treatment access to patients around the world.
"Through this MOU, we plan to enhance the production process capabilities of our Korean Mega Plant in collaboration with Roche Diagnostics," Lotte Biologics chief Richard Lee said in a press release. "Through synergy with Roche Diagnostics, an industry leader in the in vitro diagnostic field, LOTTE hopes to improve the efficiency of its operations at the forthcoming Korean Mega Plant, simultaneously augmenting the quality of our manufacturing and fulfilling customer needs."
Finally, Business Korea reported that Lotte Biologics and Roche Diagnostics will cooperate on various business fronts, including installing automation systems at the former's Mega Plants that will be built in Korea. The latter will also provide technical consulting and equipment support for the facilities.
Photo by: Lotte Biologics Newsroom
