And so that is what we are trying to do, as we build out and modernize our strategic national stockpiles. "You can have bottles of pharmaceuticals on the shelf … but you really need the capacity to increase manufacturing," said Rear Adm. John Polowczyk, who leads the White House's supply chain stabilization task force, "and the ability to surge for any long-term health crisis. Press Release; 05/06/20; Press Release; Eastman Kodak Company First-Quarter 2020 Earnings Conference Call. ROCHESTER, N.Y.--(BUSINESS WIRE)--May 6, 2020--Kodak will release its First-Quarter 2020 Financial Report on Tuesday, May 12, 2020. Just on Tuesday, the stock jumped 203% after the U.S. government awarded the company a $765 million loan to start producing drug ingredients under the Defense Production Act, the first of its kind.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.Shares of Kodak rallied 318% to about $25.26 a share for its best day ever.
Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Trading was halted 20 times during Wednesday's trading due to volatility.The 131-year old imagining company filed for bankruptcy in 2012 as the shift to digital cameras devastated the business. ET on Seeking Alpha. Before Tuesday's trading it had a market value of just $115 million.The company said it will expand existing facilities in Rochester, New York and St. Paul, Minnesota under a new Kodak Pharmaceuticals arm."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.
Kodak Reports First-Quarter 2020 Financial Results. That would seem to include Virginia-based Phlow Corp., a new company incorporated in January that received a $354 million federal contract back in May.In making the announcement, White House officials heralded Kodak as a trusted brand and iconic American company. ROCHESTER, N.Y., Tuesday, May 12, 2020 --Eastman Kodak Company (NYSE: KODK) today reported financial results for the first quarter 2020, including consolidated revenues of $267 million. ... 2020, 4:00 AM EDT Eastman Kodak Co. shares more than tripled Tuesday on a $765 million government loan to help produce ingredients used in key generic medicines to fight the coronavirus. 1125 N. Charles St, Baltimore, MD 21201.©2020 InvestorPlace Media, LLC It’s getting a $765 million loan from the U.S. government that will allow it to make this change.
"Eastman Kodak Co. will receive a $765 million government loan to help expedite the domestic production of generic drugs to treat a variety of medical conditions and loosen the country's reliance on foreign sources, officials said Tuesday.In a recorded message, the governor said the pandemic had shown "how much America needs to do to be better prepared for public health emergencies."