Kodak re-enters pharma to manufacture APIs

One of the big news stories to come out of the US last week was the US$ 765 million loan from the US government’s International Finance Department Corporation (possibly over several years) to Kodak to manufacture pharmaceutical ingredients, also known as active pharmaceutical ingredients (APIs). There was some excitement about Kodak’s stock price jumping 1435% or 300%, depending on when or where you got your news. As our screenshot reveals, the Kodak stock price was US$ 2.44 a year ago (5 August 2019), and it closed at US$ 21.85 on Friday, 31 July 2020. On 29 July 2020, it reached a high of US$ 33.20. The loan to Kodak is the first use of the new authority delegated by President Donald Trump in a recent executive order that allows the IFDC and the Department of Defense to collaborate in support of the domestic response to the Covid-19 pandemic under the Defense Production Act. Adam Boehler, who heads the IFDC, said he learned of Kodak’s interest in creating a startup to supply ingredients for pharmaceuticals. “If…

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