$765 million government loan to help produce ingredientsEastman Kodak Co. shares more than tripled Tuesday on plans to secure a $765 million government loan to help produce ingredients used in key generic medicines to fight the coronavirus.
The development bank loan is the first of its kind under the Defense Production Act in collaboration with the U.S. Department of Defense. It’s intended to speed production of drugs in short supply and those considered critical to treat Covid-19
Now, the 132-year-old company will be reorienting part of its factory structure to produce drug ingredients
“Americans are dangerously dependent on foreign supply chains for their essential medicines, The U.S. manufactures about 10% of components going to the national generic drug supply.
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DFC to Sign Letter of Interest for Investment in Kodak’s Expansion Into Pharmaceuticals
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