Kodak, which specialized in the production of products for photography, has expanded its activities to the pharmaceutical sector through a loan of the United States government in the amount of 765 million dollars.
On it informs The Verge.
As reported, the new division, Kodak Pharmaceuticals, will create the ingredients for drugs that are in chronic national deficit.”
The company notes that after the beginning of full operations he will be able to produce “up to 25% of the active pharmaceutical ingredients that are used in non-biological, antibacterial, reproduced pharmaceutical products”.
Kodak CEO James Continenza expects that in the future, pharmaceuticals will account for 30-40% of the company’s business, reports The Wall Street Journal.
A loan in the amount of 765 million dollars. it became possible due to the Korean act on the production of military goods during the war, which the administration trump used to accelerate the rate of production of ventilators and masks to combat COVID-19.
According to The Wall Street Journal, in pharmaceutical work Kodak plans to produce ingredients for drugs such as hydroxychloroquine, which trump is often called the cure for coronavirus, although it was proven ineffective.
This is not the first time when the company deals with pharmaceuticals, although last time it stayed in business for several years. In 1988 Kodak acquired the company for the production of drugs Sterling Drug in approximately 5.1 billion dollars, however, sold its parts in 1994.