Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Kodak, Once a Photography Bet, Now Soaring as a Drug Maker

Published 07/28/2020, 10:38 AM
Updated 07/28/2020, 10:39 AM
© Reuters.

© Reuters.

By Christiana Sciaudone

Investing.com -  Eastman Kodak Co (NYSE:KODK) -- yes, that Kodak -- quintupled on Tuesday after The Wall Street Journal reported it won a loan to speed up drug production.

Kodak, historically associated with cameras and film, received a $765 million loan under the Defense Production Act to speed up domestic drug production and reduce reliance on foreign sources. 

Kodak is readying production of ingredients for generic drugs, including the antimalarial drug hydroxychloroquine that some have said can treat the new coronavirus. 

In May, Eastman Kodak reported first quarter consolidated revenue of $267 million, and a GAAP net loss of $111 million. The company redirected resources to produce isopropyl alcohol for hand sanitizer and manufacture face masks. 

 

Latest comments

Nowadays every companied want to put on drug making title
Kodak, not a drug company, gets almost a billion dollars to make drugs.
they are a chemical company. they have good knowledge of chemicals from decades of making film products. there facilities have the capacity to make drugs and other related products. changing with the times
Kodak will save the world from the big Corona.
Kodak is a dead dog gasping for life without the patends they hold they woukd gave gone completly under
What patent ? I thought they sold them long time ago
and don't forget the UV light Karen
If u r have covid n not in the hospital, in very early infection, studies show hydroxychloroquine help. If u r in hospital, ur chance to survive so far is 50/50
Which studies? And you mean using hydrochloride right?
What do you know about it?
no what he said is right
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.