Kodak

Kodak enters the pharmaceutical industry business

The one that was one of the iconic companies in the manufacture of photographic products in the analog era until the arrival of digital cameras on the consumer market, and later of mobile phones, leading to bankruptcy and subsequent restructuring in 2012, now an interesting new twist entering the business of the pharmaceutical industry.

Eastman Kodak just received a loan from the United States Government, through the United States International Development Finance Corporation (DFC), of 765 million dollars, to be repaid in 25 years, for the manufacture of crucial components for the elaboration of medicines considered as essential through the new division called Kodak Pharmaceuticals.

This is intended fill essential medicine shortages, without depending on the importation of medicines from countries like China and other parts of the world, also seeking to have medicines at competitive costs for the population.

For the DFC, only 10% of the components used to make generic pharmaceuticals are manufactured within the United States. Kodak indicates in a letter of interest that it will manufacture up to 25% active pharmaceutical ingredients for the manufacture of generic non-biological and non-antibacterial pharmaceutical products.

The company aims that its foray into the pharmaceutical world allow you to create about 360 direct jobs and 1,200 indirect jobs. In addition, it will expand its facilities in Rochester, New York, and St. Paul, Minnesota, both in the United States, for the arrival of its new pharmaceutical division.

The mere announcement of the economic injection has allowed the company to skyrocket the value of its shares on the New York Stock Exchange, reaching a 400% increase.

This agreement between Kodak and the United States Government It is the first to arrive since the United States government signed the new Defense law last May. that seeks to promote the national manufacture of the necessary elements to face Covid-19