Trump Administration Promises Huge Loan for Kodak to Develop Drug Ingredients – By Steve Herman (VOA News) / July 28 2020
WHITE HOUSE – The U.S. government says it will use the Defense Production Act to help transform a legacy photographic film maker into a producer of pharmaceutical ingredients, including those for hydroxychloroquine, the anti-malarial President Donald Trump has touted as a treatment to ward off the coronavirus.
“Today I’m proud to announce one of the most important deals in the history of U.S. pharmaceutical industries,” Trump told reporters in the White House briefing room Tuesday afternoon.
Kodak will receive a $765 million loan under the Defense Production Act to launch a pharmaceuticals company, creating hundreds of jobs, Trump said.
It is not a done deal, however, according to the White House.
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