Innovation Pharmaceuticals Inc (IPIX)

[MinnieM]

There are a number of raw/base ingredients required to make various drugs that big pharma gave up on years ago due to low profit margin. They found it cheaper to buy them from China and have pushed back against bringing production home to the US. Hence, Trump bipassed them and gave the business to a company that was happy for it.

It was a brilliant move. Save a US company and get the manufacturing done in the US. A lot, if not most, common drugs can't be made without buying materials from China. This is unacceptable and a national security and health risk.

Plus, Kodak already has experience with chemical manufacturing.

https://www.fiercepharma.com/manufacturing/camera-maker-kodak-dives-into-drug-manufacturing-765m-federal-loan

With a $765 million federal loan under the Defense Production Act, the company will scale production of active pharmaceutical ingredients (APIs) for key generic medicines, the U.S. government said in a release.

The loan, funded by the U.S. International Development Finance Corporation (DFC), will cover Kodak's starting costs in repurposing existing facilities in Rochester, New York, and St. Paul, Minnesota, to incorporate "continuous manufacturing and advanced technology capabilities," the government said.

The cash infusion will likely add 360 additional workers and indirectly employ another 1,200, according to a release. Kodak's share price skyrocketed on the heels of Tuesday's news, jumping from $2.62 per share to $43.45 at its peak—an astronomical 1,558% increase.

The DFC said Kodak would be capable of producing "up to 25% of active pharmaceutical ingredients used in non-biologic, non-antibacterial, generic pharmaceuticals" when running at full speed.

https://www.fiercepharma.com/manufacturing/pharma-pushes-back-u-s-legislation-to-bring-drug-manufacturing-stateside

But the biggest obstacle to that plan could be the pharmaceutical industry and its lobbyists on Capitol Hill.

With legislation piling up, the Pharmaceutical Research and Manufacturers of America (PhRMA), the industry's biggest lobbying group, has pushed back against Congressional support for a supply chain shake-up.

https://ca.finance.yahoo.com/news/kodak-ceo-were-more-of-a-chemical-company-than-a-camera-brand-174409937.html

According to Continenza, Kodak’s shift shouldn’t be a surprise. “We really didn’t make cameras, we made film. We’ve always been a chemical and chemistry (company),” he told Yahoo Finance in an interview.

Message in reply to:

How did Kodak get millions, resurrecting it from the ashes to manufacture a discredited drug that hasn’t got a decent clinical trial?...it’s because madmen control the purse strings...loons..cranks..did you watch that Brietbart viral video with the certifiably insane doctor?..so full of disinformation -that it was taken down by Twitter, Facebook?..that video was retweeted by the President of the United States shortly followed by 765 Million to Kodak???

What is happening?