Kodak to launch pharmaceuticals unit, create 360 jobs

Eastman Kodak will launch Kodak Pharmaceuticals, a new business unit to produce critical pharmaceutical components that have been identified as essential but have lapsed into chronic national shortage, the company said. The U.S. International Development Finance Corporation has signed a letter of interest to provide a $765 million loan to Kodak, which will accelerate the Rochester company’s time to market.

Once fully operational, Kodak Pharmaceuticals will have the capacity at Eastman Business Park to produce up to 25 percent of active pharmaceutical ingredients used in non-biologic, non-antibacterial, generic pharmaceuticals while supporting 360 direct jobs and an additional 1,200 indirectly.

“Kodak is proud to be a part of strengthening America’s self-sufficiency in producing the key pharmaceutical ingredients we need to keep our citizens safe,” said Kodak Executive Chairman Jim Continenza. “By leveraging our vast infrastructure, deep expertise in chemicals manufacturing, and heritage of innovation and quality, Kodak will play a critical role in the return of a reliable American pharmaceutical supply chain.”

DFC’s loan will support startup costs needed to repurpose and expand the company’s existing facilities in Rochester and St. Paul, Minn., including by incorporating continuous manufacturing and advanced technology capabilities.

Once fully operational, Kodak Pharmaceuticals will have the capacity to produce up to 25 percent of active pharmaceutical ingredients used in non-biologic, non-antibacterial, generic pharmaceuticals while supporting 360 direct jobs and an additional 1,200 indirectly. The company plans to coordinate closely with the Trump Administration and pharmaceutical manufacturers to identify and prioritize components that are most critical to the American people and U.S. national security.