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Tue Jul 28, 2020, 10:17 PM

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.

24 replies, 1913 views

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Reply Kodak soars another 60% after Trump announces deal to manufacture generic drug ingredients (Original post)
Steelrolled Jul 2020 OP
dflprincess Jul 2020 #1
Chin music Jul 2020 #2
Steelrolled Jul 2020 #15
dflprincess Jul 2020 #16
Chin music Jul 2020 #17
47of74 Jul 2020 #24
progree Jul 2020 #6
Marie Marie Jul 2020 #8
Steelrolled Jul 2020 #14
TreasonousBastard Jul 2020 #3
machI Jul 2020 #19
pecosbob Jul 2020 #4
chowder66 Jul 2020 #7
pecosbob Jul 2020 #9
chowder66 Jul 2020 #11
Thekaspervote Jul 2020 #10
chowder66 Jul 2020 #12
Hoyt Jul 2020 #5
Steelrolled Jul 2020 #13
Demonaut Jul 2020 #18
Crazyleftie Jul 2020 #20
catsudon Jul 2020 #21
Paladin Jul 2020 #22
ancianita Jul 2020 #23

Response to Steelrolled (Original post)

Tue Jul 28, 2020, 10:26 PM

1. I suppose they'll just use all those old film processing chemicals they have laying around.

Maybe toss in a couple flash cubes.

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Response to dflprincess (Reply #1)


Response to Chin music (Reply #2)

Tue Jul 28, 2020, 11:12 PM

15. They give us those nice bright colors...

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

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Response to Chin music (Reply #2)

Tue Jul 28, 2020, 11:16 PM

16. And I had one of the skinny Instamatic cameras

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.

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Response to dflprincess (Reply #16)


Response to dflprincess (Reply #16)

Wed Jul 29, 2020, 09:46 AM

24. Yeah so did I before my mom got me a Disc camera

 

Then I graduated up to 35mm.

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Response to dflprincess (Reply #1)

Tue Jul 28, 2020, 10:37 PM

6. Since injecting disinfectants works so well, injecting old film-developing chemicals ought to work

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.

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Response to progree (Reply #6)

Tue Jul 28, 2020, 10:39 PM

8. Now if only we could figure a way to get those flash cubes to go off up our butts.

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Response to dflprincess (Reply #1)

Tue Jul 28, 2020, 11:08 PM

14. I thought the same thing

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?

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Response to Steelrolled (Original post)

Tue Jul 28, 2020, 10:31 PM

3. How many shares does Trump own?

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Response to TreasonousBastard (Reply #3)

Wed Jul 29, 2020, 04:16 AM

19. How many Republicans in Congress bought Kodak in the last few days?

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Response to Steelrolled (Original post)

Tue Jul 28, 2020, 10:32 PM

4. What drugs and who stands to profit?

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Response to pecosbob (Reply #4)

Tue Jul 28, 2020, 10:39 PM

7. They will be producing ingredients used in generic drugs.

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.

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Response to chowder66 (Reply #7)

Tue Jul 28, 2020, 10:44 PM

9. Yeah...I read it and it was vague. I just hope the list from the FDA is bona fide

and not more carpet-bagging.

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Response to pecosbob (Reply #9)

Tue Jul 28, 2020, 10:51 PM

11. I looked it up

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".

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.

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Response to chowder66 (Reply #7)

Tue Jul 28, 2020, 10:48 PM

10. "Lapsed into chronic shortage." That would be hydroxychloroquine used in treating Lupus

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

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Response to Thekaspervote (Reply #10)

Tue Jul 28, 2020, 10:52 PM

12. That was my first thought as well.

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Response to Steelrolled (Original post)

Tue Jul 28, 2020, 10:34 PM

5. It is interesting to see the government taking positions in industries that

theoretically could help everyone.

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Response to Hoyt (Reply #5)

Tue Jul 28, 2020, 11:02 PM

13. +1 I think we are way past due to correcting

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.

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Response to Steelrolled (Original post)

Wed Jul 29, 2020, 12:01 AM

18. a Kodak moment

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Response to Steelrolled (Original post)

Wed Jul 29, 2020, 06:50 AM

20. I smell the odor of insider trading...

follow the money....

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Response to Steelrolled (Original post)

Wed Jul 29, 2020, 08:17 AM

22. The trump crime family benefitted from this, big-time. Count on it. (nt)

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Response to Paladin (Reply #22)

Wed Jul 29, 2020, 09:07 AM

23. Their benefit is not to get charged under RICO law, and that is temporary.

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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