Kodak secures $765 million dollar loan from Trump Administration for manufacturing ingredients used in pharmaceuticals, to rebuild the national stockpile depleted by COVID-19 pandemic and reduce dependency on foreign factories

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Eastman Kodak will receive a federal loan of $765 million to help reduce reliance on other countries for ingredients in generic drugs, an agreement President Donald Trump hailed Tuesday as a breakthrough in bringing more pharmaceutical manufacturing to the United States.

Kodak Pharmaceuticals will make critical pharmaceutical 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 repurpose and expand Kodak’s existing facilities in Rochester, New York, and St. Paul, Minnesota.

Link:
https://apnews.com/6ac0ea01fa0059f17decedb640c4bf82