Kodak This Wednesday was an authentic bullish party. Its shares have risen more than 300% after the American president, Donald Trump, has announced an agreement with the company so that it begins to manufacture pharmaceutical products.
It may seem very crazy that the mythical manufacturer of cameras of the pharmaceutical jump, but in reality it is not so much. Kodak has a long history of chemical manufacturing, they are necessary in photographic films. With this leap the North American seeks to support the country's internal production.
"Self-sufficiency of the United States in the production of pharmaceutical ingredients is key we need to keep our citizens safe"Kodak Chief Executive Jim Continenza explained in a statement.
New York Governor Andrew Cuomo has spoken in a very similar vein. "We don't want to trust China shipments again or from other places to get life-saving medical supplies. "
The Rochester Company will receive a credit of 765 million dollars (€ 650 million) to finance the launch of Kodak Pharmaceuticals, a new division of the company dedicated to the production of key active ingredients for the production of medicines in the United States.
It is the first time that the Trump Administration has made use of the Presidential Executive Order authorizing the Development Finance Corporation (DFC) and the US Department of Defense to collaborate. in support of the US response to the threat posed by the coronavirus pandemic.
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