Eastman Kodak will receive a federal loan of $765 million to help reduce the country's reliance on other countries for ingredients used in generic drugs.
Kodak Pharmaceuticals will make critical pharmaceutical ingredients that have been identified as essential but have lapsed into chronic national shortage, as defined by the Food and Drug Administration.
The Kodak unit will have the capacity to produce up to 25% of active pharmaceutical ingredients used in non-biologic, non-antibacterial, generic pharmaceuticals.
The government loan will help support startup costs needed to repurpose and expand Kodak's existing facilities in Rochester and St. Paul, Minnesota.
Kodak referred to the prepared U.S. statement on the loan when asked for comment Tuesday.