Kodak lands loan to boost US-produced drug supply to Fight COVID-19

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Kodak lands loan to boost US-produced drug supply to Fight COVID-19

Kodak created history by becoming the first company to benefit from the Trump administration’s Defense Product which received a federal loan of $765 million to launch a new pharmaceutical production operation for chemicals used in generic drugs. Kodak has branched out to offset the large scale loss of its film business.

After the bolster of loan, the company’s stock prices jumped 300 percent in early trading. The company would focus on critical pharmaceutical ingredients, deemed essential, that have lapsed into a chronic shortage. One of those the company will help make is Hydroxychloroquine according to its Chairman.

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