Kodak will receive $765 million loan to launch Kodak Pharmaceuticals

Kodak will receive $765 million loan to launch Kodak Pharmaceuticals

The Eastman Kodak Company, more commonly known as Kodak, is reportedly on the verge of entering the global pharmaceuticals space, with the launch of its new arm, Kodak Pharmaceuticals.

Shares of Eastman Kodak Co. have leapt 2,441% higher this week, sending its market valuation to almost $2 billion, after it won a government loan to help produce ingredients used in key generic medicines to fight the coronavirus. Jim Continenza, the Executive Chairman at Kodak, detailed on the latest move, "Kodak is proud to be a part of strengthening America's self-sufficiency in producing the key pharmaceutical ingredients we need to keep our citizens safe".

The company has announced the creation of a new division called Kodak Pharmaceuticals, meant to produce "Critical pharmaceutical components that have been identified as essential but are experiencing a national shortage of stocks " Their goal is to produce 25% of all active pharmaceutical ingredients used in industry. Reportedly, the LOI will be signed by Boehler and Continenza, and the signing ceremony is likely to attract remarks from President Donald Trump and Andrew Cuomo, the Governor of NY. But these last days, Kodak's stock has skyrocketed from 2.5 to ... According to the company's officials, Kodak'srole will be to produce "starter materials" used to make generic drugs for medical purposes.

Guelph high schools among those allowed to reopen under full attendance model
The students will have a hybrid-style education spending one day in the classroom and the other day learning online. The Ministry of Education will reopen all elementary schools for full-time, in-person learning, five days a week.

In May, the administration awarded a contract worth up to $812 million for a new U.S. company to manufacture drugs and drug ingredients in the country.

The vast majority of hospitals in the United States are reportingshortages in drug treatments for Covid-19 patients as the supply chain from China was disrupted due to factory shut-downs amid the pandemic.

The company will also produce products at a facility in St. Paul, Minnesota. "This is about assuring our supply chains now and in the future", said Rear Admiral John Polowczyk, White House Supply Chain Task Force Lead. "Kodak is stepping up to help onshore pharmaceutical production and this DPA action will allow the modernized Strategic National Stockpile to have domestic resiliency". These efforts complement DFC's global response to both the health-related and economic impacts of COVID-19.

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