Kodak, which once was one of the most famous brands in the world of photography, and subsequently went bankrupt in 2012, turned into pharmaceutical company, and received from the US government a loan of $756 million
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Provided that on such step the authorities are going to fight with dependence on drugs produced in other countries.
The news of the exit of the former manufacturer of photographic film on the pharmaceutical market have provoked a great rise of Kodak stock for more than 60% on the day of the announcement.
@realDonaldTrump and Eastman Kodak company teamed up for a bout of insider trading that made them millions at the expense of gullible retail investors. On 7/27 the day before the announcement trading volume increased 200%.DrainTheSwamptrumpconspiracyhttps://t.co/L5x41N88JS – VoteBlue YangGang (@tcardizzle) August 1, 2020
“Kodak is proud to be a part of strengthening the self-sufficiency of the United States in the manufacture of basic pharmaceutical ingredients, we need to ensure the safety of our citizens”, – said the Executive Chairman of the company Jim Continenza.
He also added that to achieve large-scale production will need 3-4 years.
“If we learned anything from the world of the pandemic is the fact that Americans are heavily dependent on foreign supply chains of their essential medicines”, – said the press Secretary of the White house Peter Navarro.
In turn, the US President Donald trump called it “one of the most important agreements in the history of the pharmaceutical industry of the USA,” noting that Kodak is a “big American company”.
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Kodak isn’t the only photographic company that directs its energies to the production of medicines. Japanese Fujifilm is working on a potential vaccine against COVID-19, and hopes soon to begin testing on humans.
As you know, the company Eastman Kodak was founded by George Istmena in 1888. The Brownie camera was one of the most popular in the company and helped it to become a dominant player in the photographic industry.
The company has been producing everything connected with photography: cameras, lenses (Kodak lenses), film, chemicals, and other products related to image processing, such as printers. At its peak the company employed more than 145 thousand people, but now number of people is about 5 thousand.
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At the time the invention of film and small-format photos made the group rich. But Kodak missed the digital photography. In the end the company, which is behind the 130-year history, had to endure a number of extremely difficult years.
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