WASHINGTON (AP) – Eastman Kodak has launched a pharmaceutical arm with the announcement Tuesday of a federal loan of $765 million to help reduce the country’s reliance on other countries for ingredients used in generic drugs.
The agreement was announced by President Donald Trump and hailed as a breakthrough in bringing more pharmaceutical manufacturing to the United States.
Kodak Pharmaceuticals will make Bl ingredients that have been identified as essential but have lapsed into chronic national shortage, as defined by the Food and Drug Administration.
The government loan will help support startup costs needed to re-purpose and expand Kodak’s existing facilities in Rochester and St. Paul, Minnesota. “We must never be reliant on a foreign nation for America’s medical or other needs,” Trump said Tuesday at the White House.
We have reached a historic deal with @Kodak to begin producing critical pharmaceutical ingredients right here in America! pic.twitter.com/BhK77FWuVJ
— The White House 45 Archived (@WhiteHouse45) July 28, 2020
