The company will expand existing facilities in New York and Minnesota with the creation of Kodak Pharmaceuticals.
The loan from the US International Development Finance Corporation will fund the creation of Kodak Pharmaceuticals, which “will produce critical pharmaceutical components that have been identified as essential but have lapsed into chronic national shortage”, the agency said in a statement. Kodak, once a giant in the world of photography whose business has struggled in recent years as cell phones have replaced cameras and film, will expand its existing facilities in Rochester, New York and St Paul, Minnesota.