Kodak, once one of the most powerful brands in the world of photos, went bankrupt in 2012, turned into pharmaceutical company, and received from the US government the credit for the development of 756 million dollars. The company plans to open a subsidiary of Kodak Pharmaceuticals, which will manufacture ingredients for the drugs.
Evaluation of Kodak, when the new company is fully operational, it will produce up to 25 % of the volume of active ingredients used in non-biological, non-antibiotic drugs on a national scale. The company plans to transfer the production of chemical ingredients 30-40% of their business.
A loan of $756 million were issued to Kodak by the U.S. government under the Act for the defence industry, which was published in the times of the Korean war. Before the administration of the tramp are already actively used it to speed up the production of medical ventilators, protective masks and other medical equipment to fight the epidemic COVID-19.
It should be noted that this is not the first case when Kodak tries himself in the pharmaceutical industry. In 1988, the company was bought by a pharmaceutical manufacturer Sterling Drug for $5,1 billion, but then sold it in 1994.
The Source — Kodak