Kodak Will Help Make Drugs to Fight Covid, Says Trump

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After declaring bankruptcy in 2012 with a market capitalization above $30 billion, shares of Eastman Kodak Co. has surged by over 350% after President Trump granted the company with a $765 million loan to produce vital pharmaceutical ingredients.

Once fully operational, Kodak Pharmaceuticals will have the capacity to produce up to 25 percent of active pharmaceutical ingredients used in non-biologic, non-antibacterial, generic pharmaceuticals while supporting 360 direct jobs and an additional 1,200 indirectly.

The loan will lead to the creation of Kodak Pharmaceuticals, a new arm of the company that will produce critical pharmaceutical components.

Kodak Pharmaceuticals will make basic pharmaceutical ingredients that have been recognized as fundamental but have slipped by into chronic national shortage, as characterized by the Food and Drug Administration. President Donald Trump spoke about the deal at the White House. But these last days, Kodak's stock has skyrocketed from 2.5 to ...

What has happened so that the value of these shares has risen so much, if the Kodak camera business has not changed significantly? According to industry experts, this is the first project to use the new authority delegated by the Trump administration that enables both the DFC and U.S. DOD (Department of Defense) to come together in order to support the domestic response to the global pandemic, under the DPA (Defense Production Act). "We are pleased to support Kodak in this bold new venture; our collaboration with this iconic American company will promote health and safety at home and around the world".

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The Eastman Kodak Company is set to be on the forefront of a federal initiative to shift production of generic prescription drugs to the U.S.

The group plans to launch a pharmaceuticals division that will make essential drug components now in "chronic national shortage".

Kodak will no longer only be known for producing cameras and film.

"Fujifilm is also several steps ahead of Kodak in the pharmaceutical realm".

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