NEW YORK | legendary Group for photographers, Eastman Kodak is going to launch out in the manufacture of ingredients for the pharmacy with the help of a government loan of 765 million dollars supposed to help reduce the dependency of laboratories in the united states to foreign suppliers.
Kodak should produce essential components for the pharmacy, but in regular shortage in the United States, explains in a press release Tuesday, the agency granting the loan, the DFC.
The objective is that the company will produce a total of up to 25 percent of the active ingredients necessary for the preparation of the generic drug products in the United States, an activity that is expected to create 360 jobs.
“This is a significant figure, 25 %,” said the american president Donald Trump at a press conference. “This is a decisive step in the repatriation of the manufacturing of pharmaceutical products in the United States “, he noted.
This is the first time that the DFC finance a project in the framework of a partnership with the ministry of Defence to combat the pandemic of Covid-19 under the ” Defense Production Act “. This text allows the federal government to mobilize the private sector for the purposes of the security of the country.
“By leveraging our vast infrastructure, our in-depth expertise in the manufacture of chemical products and our legacy of innovation and quality, Kodak will play a key role in the return of a string reliable pharmaceutical supply in the United States,” said the chairman of the board of directors of the group, Jim Continenza.
“If we have learned anything from the global pandemic, it is that Americans are dangerously dependent supply chains foreign to their essential medicines “, has also pointed to Peter Navarro, an adviser to Donald Trump for the trade.
This project is a new u-turn for the Kodak, a group created in 1888.
Because they have not taken to time the shift to digital photography, the manufacturer best known for its films had filed for bankruptcy in early 2012 before refocusing on the services of printing and packaging and some chemicals and films for industrial use.
The government loan would help speed up the arrival on the market of the new pharmaceutical products of Kodak in helping the company to convert and expand its production sites at Rochester in the State of New York and in St. Paul, in Minnesota.
Kodak plans to ” coordinate closely with the administration and the pharmaceutical laboratories to identify and give priority to the most essential products to Americans and to the national security of the United States “.
On Wall Street, the title of the corporate has shot up by over 200 % on Tuesday.