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Kodak, now a pharma company, expects drugs to make up 30-40% of its future business


Eastman Kodak stock more than tripled on Tuesday after the company revealed a pivot to pharmaceuticals in support of the US response to the coronavirus pandemic. According to the Wall Street Journal, Kodak will soon play a role in curbing the US’ reliance on medicines from outside sources like China — starting with producing ingredients for generic drugs like the Donald Trump-touted hydroxychloroquine.  Kodak chief exec Jim Continenza told WSJ he expects basic pharma ingredients to eventually make up 30% to 40% of the company’s overall business. Kodak took a $765 million loan from the US International Development Finance Corporation to power the shift, which…

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