Kodak to produce active ingredients in shortage for generic drugs

The U.S. International Development Finance Corporation today signed a letter of interest to provide a $765 million loan to Eastman Kodak Company to repurpose and expand its facilities in Rochester, N.Y., and St. Paul, Minn., to produce active pharmaceutical ingredients in short supply.

Once the facilities are fully operational, the company expects to produce up to 25% of the active pharmaceutical ingredients used in non-biologic, non-antibacterial generic pharmaceuticals.

The agency recently requested private-sector proposals for financing to support domestic production or distribution of pharmaceuticals, vaccines, personal protective equipment and medical testing supplies under the Defense Production Act, as authorized by a May executive order in response to the COVID-19 emergency.