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Steelrolled

(2,022 posts)
Tue Jul 28, 2020, 11:17 PM Jul 2020

Kodak soars another 60% after Trump announces deal to manufacture generic drug ingredients

Source: CNBC

Shares of Kodak soared more than 60% in extended trading. The stock more than tripled during Tuesday’s regular trading for its best day ever 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.

Read more: https://www.cnbc.com/2020/07/28/kodak-soars-another-40percent-after-trump-announces-deal-to-manufacture-generic-drug-ingredients.html



I figured this was coming as a longer term effort to pull critical medical manufacturing back to the US.

But I think it would have been better done through regulation (e.g. make it very expensive to do production overseas) and allow the market to pull back the manufacturing.
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Kodak soars another 60% after Trump announces deal to manufacture generic drug ingredients (Original Post) Steelrolled Jul 2020 OP
I suppose they'll just use all those old film processing chemicals they have laying around. dflprincess Jul 2020 #1
This message was self-deleted by its author Chin music Jul 2020 #2
They give us those nice bright colors... Steelrolled Jul 2020 #15
And I had one of the skinny Instamatic cameras dflprincess Jul 2020 #16
This message was self-deleted by its author Chin music Jul 2020 #17
Yeah so did I before my mom got me a Disc camera 47of74 Jul 2020 #24
Since injecting disinfectants works so well, injecting old film-developing chemicals ought to work progree Jul 2020 #6
Now if only we could figure a way to get those flash cubes to go off up our butts. Marie Marie Jul 2020 #8
I thought the same thing Steelrolled Jul 2020 #14
How many shares does Trump own? TreasonousBastard Jul 2020 #3
How many Republicans in Congress bought Kodak in the last few days? machI Jul 2020 #19
What drugs and who stands to profit? pecosbob Jul 2020 #4
They will be producing ingredients used in generic drugs. chowder66 Jul 2020 #7
Yeah...I read it and it was vague. I just hope the list from the FDA is bona fide pecosbob Jul 2020 #9
I looked it up chowder66 Jul 2020 #11
"Lapsed into chronic shortage." That would be hydroxychloroquine used in treating Lupus Thekaspervote Jul 2020 #10
That was my first thought as well. chowder66 Jul 2020 #12
It is interesting to see the government taking positions in industries that Hoyt Jul 2020 #5
+1 I think we are way past due to correcting Steelrolled Jul 2020 #13
a Kodak moment Demonaut Jul 2020 #18
I smell the odor of insider trading... Crazyleftie Jul 2020 #20
why? catsudon Jul 2020 #21
The trump crime family benefitted from this, big-time. Count on it. (nt) Paladin Jul 2020 #22
Their benefit is not to get charged under RICO law, and that is temporary. ancianita Jul 2020 #23

dflprincess

(28,094 posts)
1. I suppose they'll just use all those old film processing chemicals they have laying around.
Tue Jul 28, 2020, 11:26 PM
Jul 2020

Maybe toss in a couple flash cubes.

Response to dflprincess (Reply #1)

 

Steelrolled

(2,022 posts)
15. They give us those nice bright colors...
Wed Jul 29, 2020, 12:12 AM
Jul 2020
They give us the greens of summers
Makes you think all the world's a sunny day, oh yeah
I got a Nikon camera
I love to take a photograph
So mama, don't take my Kodachrome away

dflprincess

(28,094 posts)
16. And I had one of the skinny Instamatic cameras
Wed Jul 29, 2020, 12:16 AM
Jul 2020

that eventually came out with a flash extender to hold the flash cube further from the lens because red eye was a major problem with those cameras.

Response to dflprincess (Reply #16)

progree

(10,939 posts)
6. Since injecting disinfectants works so well, injecting old film-developing chemicals ought to work
Tue Jul 28, 2020, 11:37 PM
Jul 2020

even better. Just a feeling I have. Just a hunch. Won't know 'til we try.

Come to think of it, injecting ultra-violet light and film-developing chemicals together -- that's one heck of a synergy. That will expose the little Covid bugs.

The surge in stock price pushed Kodak’s market value to $347 million as of Tuesday’s close. Before Tuesday’s trading it had a market value of about $115 million. (So it tripled in value -Progree)

The company said it will expand existing facilities in Rochester, New York and St. Paul, Minnesota under a new Kodak Pharmaceuticals arm.
 

Steelrolled

(2,022 posts)
14. I thought the same thing
Wed Jul 29, 2020, 12:08 AM
Jul 2020

From an emotional viewpoint, I would be happy to see a new life for Kodak, although I'm not thrilled about the government taking the risk.

Interesting this development, and the recent executive order linking drug prices in Medicare to lower prices abroad - who's behind it?

chowder66

(9,104 posts)
7. They will be producing ingredients used in generic drugs.
Tue Jul 28, 2020, 11:39 PM
Jul 2020

From the article

snip

Eastman Kodak soared on Tuesday after President Donald Trump announced a deal to work with the photography pioneer to produce ingredients in generic drugs in response to the coronavirus pandemic.

Shares of Kodak soared more than 60% in extended trading. The stock more than tripled during Tuesday’s regular trading for its best day ever 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.

snip

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.

snip

Kodak filed for bankruptcy in 2012 as the shift to digital cameras devastated the business. The move to drug production marks a fighting chance for the onetime leader in film and photography.

pecosbob

(7,548 posts)
9. Yeah...I read it and it was vague. I just hope the list from the FDA is bona fide
Tue Jul 28, 2020, 11:44 PM
Jul 2020

and not more carpet-bagging.

chowder66

(9,104 posts)
11. I looked it up
Tue Jul 28, 2020, 11:51 PM
Jul 2020

and found a little bit on what they might be producing...

A generic drug is a pharmaceutical drug that contains the same chemical substance as a drug that was originally protected by chemical patents. Generic drugs are allowed for sale after the patents on the original drugs expire. Because the active chemical substance is the same, the medical profile of generics is believed to be equivalent in performance.[1][2] A generic drug has the same active pharmaceutical ingredient (API) as the original, but it may differ in some characteristics such as the manufacturing process, formulation, excipients, color, taste, and packaging.[2]
https://en.wikipedia.org/wiki/Generic_drug


The terms active constituent or active principle are often chosen when referring to the active substance of interest in a plant (such as salicylic acid in willow bark or arecoline in areca nuts), because the word ingredient in many minds connotes a sense of human agency (that is, something that a person combines with other substances), whereas the natural products present in plants were not added by any human agency but rather occurred naturally ("a plant doesn't have ingredients&quot .

In contrast with the active ingredients, the inactive ingredients are usually called excipients in pharmaceutical contexts. The main excipient that serves as a medium for conveying the active ingredient is usually called the vehicle. Petrolatum and mineral oil are common vehicles.
https://en.wikipedia.org/wiki/Active_ingredient

I agree with you that the FDA list is bona fide. I'm worried if they get something wrong processing this stuff.

Thekaspervote

(32,820 posts)
10. "Lapsed into chronic shortage." That would be hydroxychloroquine used in treating Lupus
Tue Jul 28, 2020, 11:48 PM
Jul 2020

The idiot buys up all the stock, still has it and instead of releasing it he has the government pay to make more.

No wonder he went bankrupt so many times and is still flat broke

 

Hoyt

(54,770 posts)
5. It is interesting to see the government taking positions in industries that
Tue Jul 28, 2020, 11:34 PM
Jul 2020

theoretically could help everyone.

 

Steelrolled

(2,022 posts)
13. +1 I think we are way past due to correcting
Wed Jul 29, 2020, 12:02 AM
Jul 2020

the trend of outsourcing everything, especially critical goods such as medical supplies. And the thing we learned recently is that it is "everyone for themselves" when it comes to protecting your medical system in a crisis. Political alliances don't matter.

ancianita

(36,219 posts)
23. Their benefit is not to get charged under RICO law, and that is temporary.
Wed Jul 29, 2020, 10:07 AM
Jul 2020

My bet is that Cuomo laid out his publicly announced documentation of harm done to NY through Trump's actual withholding of government supplies and help during NY's COVID peak, and that he'd reconsider if Trump invested in a NY corporation to offset that harm.

Trump knows that SDNY, EDNY and NY AG still have evidence and charges to file, and that those won't go away after Trump leaves office.

Future charges of treason could be in his future, too.

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