Sun FM Gossip
Once upon a time, Kodak was a massive force in the photography industry, is now leaving behind its roots dipping into pharmaceuticals and the US government plans to aid the company by giving a $765 million loan for support. Kodak Pharmaceuticals, the new business venture by Kodak, will produce ingredients needed for drug manufacturing.
Kodak Pharmaceuticals will make ingredients that have “lapsed into chronic national shortage,” and once the facility is completely equipped, it will be able to produce “up to 25 percent of active pharmaceutical ingredients used in non-biologic, non-antibacterial, generic pharmaceuticals,” Kodak declares. Jim Continenza, the Kodak CEO, expects pharmaceuticals to eventually comprise 30 to 40 percent of Kodak’s income revenue, as stated in The Wall Street Journal.
This loan is available given the Korean War-era Defense Production Act, which the Trump administration has previously used to quicken the manufacture of ventilators, masks, and other medical equipment to help in the struggle against COVID-19. Kodak plans to produce ingredients for drugs such as hydroxychloroquine, as stated by The Wall Street Journal. Although President Trump has regularly advocated hydroxychloroquine as a cure for COVID-19, the drug has been frequently proven unsuccessful as a treatment against the virus.
This isn’t the first time Kodak has branched out into pharmaceuticals, though it only lingered only for a few years the last time. In 1988, Kodak bought drug-maker Sterling Drug for approximately $5.1 billion but subsequently selling it in 1994 as in pieces.






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