Welcome home, fellow Gator.

The Gator Nation's oldest and most active insider community
Join today!

Kodak Lands $765M Loan to Manufacture Generic Drugs in US

Discussion in 'GatorNana's Too Hot for Swamp Gas' started by ncargat1, Jul 28, 2020.

  1. ncargat1

    ncargat1 VIP Member

    3,124
    1,531
    1,218
    Dec 11, 2009
    I cannot add a link because the only website with the story at the moment is WSJ and I refuse to sign up for it. However, I just saw the interview on CNBC.

    Kodak was already considering creating a Pharmaceutical division as they were already moving towards converting their massive chemical manufacturing facility in Rochester (largely vacant) to manufacture the basic ingredients for generic drugs. According to the person being interviewed, Kodak was selected also in part because they already had preliminary interest from generic drug manufacturers. The loan is being offered under the authority of the Defense Production Act.

    At full theoretical capacity, the Rochester campus will produce 25% of all generic drug needs in the US. They will temporarily employ 1400 construction workers and eventually nearly 2000 permanent jobs.
     
    • Like Like x 6
    • Informative Informative x 3
  2. citygator

    citygator Premium Member

    3,565
    947
    798
    Apr 3, 2007
    Charlotte
    Raise your hand if you knew Kodak was still a company. In other news I guess Polaroid makes Tee shirts since I see the logo on kids now.

    Article from wsj

    WSJ News Exclusive | Kodak Lands $765 Million U.S. Loan in Start of Medical Supply Chain Fix

     
  3. WarDamnGator

    WarDamnGator GC Hall of Fame

    6,797
    597
    698
    Apr 8, 2007
    I didn't even know Kodak still existed. They were removed from the DOW in 2004 and went through bankruptcy in 2012.

    Maybe a good move for them, but they would be up against a mammoth company in TEVA in the generic drug sales.
     
    • Funny Funny x 1
  4. channingcrowderhungry

    channingcrowderhungry Premium Member

    6,114
    1,389
    733
    Apr 3, 2007
    Bottom of a pint glass
  5. PerSeGator

    PerSeGator GC Hall of Fame

    1,234
    328
    388
    Jun 14, 2014
    It looks like they still have over a billion in revenue and ~5,000 employees. According to their 2019 10-K, they have 6 main businesses:

    Print Systems, Enterprise Inkjet Systems, Kodak Software, Brand, Film and Imaging, Advanced Materials and 3D Printing Technology and Eastman Business Park.​
     
    • Informative Informative x 1
  6. philnotfil

    philnotfil GC Hall of Fame

    14,591
    1,044
    788
    Apr 8, 2007
    That would be great for Rochester.
     
    • Agree Agree x 2
  7. ncargat1

    ncargat1 VIP Member

    3,124
    1,531
    1,218
    Dec 11, 2009
    If I understood the discussion, Kodak's strength is chemistry. They would produce many of the fundamental ingredients for generic drugs. They would likely be a supplier to people like TEVA, if TEVA has manufacturing in the United States. At least, that was what it seemed like the guy was suggesting.
     
  8. Gatorrick22

    Gatorrick22 GC Hall of Fame

    66,007
    10,068
    2,373
    Apr 3, 2007
    Neither did Biden...Lol. :eek::D;)
     
    Last edited: Jul 28, 2020
    • Funny Funny x 1
  9. WarDamnGator

    WarDamnGator GC Hall of Fame

    6,797
    597
    698
    Apr 8, 2007
    • Informative Informative x 3
  10. WarDamnGator

    WarDamnGator GC Hall of Fame

    6,797
    597
    698
    Apr 8, 2007
  11. pcamera01

    pcamera01 Senior

    283
    49
    58
    Jul 21, 2020
    • Funny Funny x 1
  12. mdgator05

    mdgator05 Premium Member

    8,422
    868
    658
    Dec 9, 2010
    That would make some sense. Kodak has no background in the industry as far as I know nor is there any indication of an industry changing innovation. Usually, you don't give out 9 figure loans to companies coming off of bankruptcies with no industry experience...
     
    • Agree Agree x 1
  13. gator_lawyer

    gator_lawyer Premium Member

    6,093
    1,523
    1,128
    Oct 30, 2017
    Just checked. He did not. However, Ivanka Trump did. The two Trump sons made an attempt, but they got confused, couldn't figure out how to complete the transaction, and eventually just settled for a couple of McFlurries.
     
    • Funny Funny x 11
  14. 96Gatorcise

    96Gatorcise GC Hall of Fame

    8,630
    1,114
    723
    Aug 6, 2008
    Tampa
    Actually Kodak was in the drug industry years ago and sold off their drug division for 4.6 billion. The issue is those that ran the company during this time are long gone and as far as I know the current management doesn't have experience in the industry.

    I do hope this blows up because I knew there was no way that stock price would remain so high, so I bought puts waiting for the sell off.:D
     
    • Informative Informative x 1
  15. murphree_hall

    murphree_hall GC Legend

    799
    370
    233
    Jul 11, 2019
    I thought this thread was about Kodak Black. I know I can’t be the only one, right? Was thinking dang, the young man really is diversifying his pursuits.
     
    • Funny Funny x 2
    • Best Post Ever Best Post Ever x 1
  16. gators81

    gators81 Premium Member

    6,988
    475
    328
    Apr 8, 2007
    atlanta
    Would it really be diversifying though? Hasn’t he been a street pharmacist for years?
     
    • Funny Funny x 2
    • Best Post Ever Best Post Ever x 1
  17. GratefulGator

    GratefulGator GC Hall of Fame

    1,496
    511
    428
    Oct 15, 2016
    Denver
    I'm for anything that reduces our dependence on foreign companies to provide us drugs and medical equipment.
     
    • Agree Agree x 1
  18. gatorpika

    gatorpika Premium Member

    6,931
    945
    613
    Sep 14, 2008
    I never realized they emerged from bankruptcy. Their Chairman and largest shareholder got rich over this. From the WSJ article.

    Kodak’s Stock Surge Turned Insiders’ Options Into Potential Windfall
     
  19. murphree_hall

    murphree_hall GC Legend

    799
    370
    233
    Jul 11, 2019
    You know what... actually I don't think he was. I think I watched something when he talked about his street activities and that wasn't really one of them. I could be wrong.
     
  20. GratefulGator

    GratefulGator GC Hall of Fame

    1,496
    511
    428
    Oct 15, 2016
    Denver
    [​IMG]