Kodak is entering the pharmaceutical business

[rph3664]

This completely makes sense to me, because they've long been a major chemical manufacturer.

Coronavirus: Camera firm Kodak turns to drugs to fight virus

The former camera maker moves into drug making and secures a major loan from the US government.

www.bbc.com

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[spacecowgirl]

Forgive me for being skeptical about this panning out.

 

[lord999]

(Nonsarcastic) I have high confidence in their sourcing ability as the article doesn't quite get it right. Kodak has one of the best internal abilities to test for reagent purity. The only reason that they don't do that part of the business anymore is that they sold to DuPont when the company went Japanese. They still have outstanding quality control, and they're not in the synthesis business, rather the reagent business like Sigma-Aldrich, Merck (which actually does quite a bit of boutique chemical manufacturing), and DuPont.

Problem, I thought most of those scientists got downsized and it'll take Kodak some serious money to get them back.

 

[KidPharmD]

I just wish I still had some Kodak stock.

 

[Momus]

The CEO made $100M total from some options that are about to expire worthless and gained 20M from holding shares after the announcement. Lots of insider trading activity from the board members, they bought shares and call options. Shares went up 1800% in 2 days. 99% of insider trading activities got away scot free.

Kodak CEO's Fortune Swells $79 Million as Stocks Rally on U.S. Government Loan

Eastman Kodak Co CEO Jim Continenza added $79 million to his net worth on Wednesday when his options in the imaging company turned from worthless to lucrative thanks to a U.S. government loan for a pharmaceutical ingredients supply deal that super-charged the value of his shares.

www.nytimes.com

If I am a degenerate gambler, I'll be buying some put tomorrow and consider it a play money total loss.

 

[PharmDBro2017]

The CEO made $100M total from some options that are about to expire worthless and gained 20M from holding shares after the announcement. Lots of insider trading activity from the board members, they bought shares and call options. Shares went up 1800% in 2 days. 99% of insider trading activities got away scot free.

Kodak CEO's Fortune Swells $79 Million as Stocks Rally on U.S. Government Loan

Eastman Kodak Co CEO Jim Continenza added $79 million to his net worth on Wednesday when his options in the imaging company turned from worthless to lucrative thanks to a U.S. government loan for a pharmaceutical ingredients supply deal that super-charged the value of his shares.

www.nytimes.com

If I am a degenerate gambler, I'll be buying some put tomorrow and consider it a play money total loss.

What are the odds they continue to get away scot-free as this story comes out more and more?

 

[mentos]

What are the odds they continue to get away scot-free as this story comes out more and more?

I'd say 87.3% but I may be off by 2-3%.

 

[spacecowgirl]

Forgive me for being skeptical about this panning out.

Welp

WSJ News Exclusive | Kodak Loan Disclosure and Stock Surge Under SEC Investigation

The Securities and Exchange Commission is investigating the circumstances around Eastman Kodak’s announcement of a $765 million government loan to make drugs at its U.S. factories, according to people familiar with the matter.

t.co

 

[maria1oh]

Kodak had a digital camera but kept it a secret because they didn't want to jeopardize traditional film sales....so yeah not a great innovative culture there

 

[mentos]

Kodak had a digital camera but kept it a secret because they didn't want to jeopardize traditional film sales....so yeah not a great innovative culture there

GM killed the electric car.