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Kodak Deal On Hold Until Allegations Cleared

DFC Loan Of $765m Was Expected To Establish Pharmaceuticals Unit

 
• By Dave Wallace

A major $765m loan agreed by the US International Development Finance Corporation to allow Kodak to establish a pharmaceuticals unit has been put on hold until allegations of wrongdoing are resolved, as rumors swirl about insider trading.

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The DFC loan agreement has been paused while the allegations are resolved • Source: Shutterstock

A loan of $765m agreed by the US International Development Finance Corporation to allow Kodak to establish a domestic pharmaceuticals unit has been put on hold until allegations of wrongdoing are resolved, amid reports of a US Securities and Exchange Commission investigation over the deal and rumors about insider trading.

In late July, the DFC agreed to grant a $765m loan to support the launch of Kodak Pharmaceuticals to manufacture active pharmaceutical ingredients. (Also see "Kodak Establishes Pharmaceutical Unit To Tackle Shortages" - Generics Bulletin, 30 July, 2020

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