Shares of Eastman Kodak Co. leapt 2,441 per cent higher this week, sending its market valuation to nearly USD2 billion (Sh215 billion). This is after it won a government loan to help produce ingredients used in key generic medicines to fight the coronavirus. Kodak said Tuesday it will produce pharmaceutical components that have been identified as essential but have lapsed into chronic national shortage, as defined by the Food and Drug Administration. “Kodak is proud to be a part of strengthening America’s self-sufficiency in producing the key pharmaceutical ingredients we need to keep our citizens safe,” Kodak Executive Chairman Jim Continenza said in a statement. In the early 1990s, Kodak was involved in production of non-prescription medicines such as aspirin.

Source: Standard Digital July 30, 2020 09:56 UTC