Global  

Kodak deal with US government to produce pharmaceuticals appears to be on hold

The Verge Saturday, 8 August 2020
Kodak deal with US government to produce pharmaceuticals appears to be on holdPhoto by Smith Collection/Gado/Getty Images

An agreement between the US government and Kodak to develop generic drug ingredients appears to be on hold, after the US International Development Finance Corporation tweeted that “recent allegations of wrongdoing raise serious concerns.”

“We will not proceed any further unless these allegations are cleared,” the agency tweeted, without specifying what the allegations were.

Kodak said Friday it was conducting an internal review of recent activity by the company in connection with a $765 million loan it would receive under the Defense Production Act to produce pharmaceuticals. The company’s stock price surged in the days before the deal was announced, CBS News reported, leading Sen. Elizabeth Warren (D-MA) to call for the Securities and...
0
shares
ShareTweetSavePostSend
 

You Might Like


💡 One News Page Knowledge: Other News Mentions

Elizabeth Warren Elizabeth Warren United States Democratic Senator from Massachusetts

Why Elizabeth Warren Will Never Be Treasury Secretary [Video]

Why Elizabeth Warren Will Never Be Treasury Secretary

Massachusetts senator and failed Presidential candidate Elizabeth Warren lobbied Joe Biden to become his treasury secretary. In a humiliating snub heard around the political world Biden chose former FED chair Janet Yellen over Warren as his Treasury Secretary. Chris Cillizza of CNN said there are several reasons Warren will never be America's Treasury Secretary. Warren in the Cabinet would allow Mass. GOP Gov. Charlie Baker to appoint a temporary replacement for her in the Senate.

Credit: Wochit News    Duration: 00:39Published
Sen. Elizabeth Warren Pens Letter to Bob Iger, Bob Chapek Over "Disney’s "Business Decisions" | THR News [Video]

Sen. Elizabeth Warren Pens Letter to Bob Iger, Bob Chapek Over "Disney’s "Business Decisions" | THR News

Sen. Elizabeth Warren on Monday penned a letter to Walt Disney Co. CEO Bob Chapek and chairman Bob Iger concerning the recent theme park layoffs the company made, which officials largely blamed on California for not allowing Disneyland to reopen.

Credit: The Hollywood Reporter    Duration: 01:33Published

Related videos from verified sources

NSUI's hunger strike enters 3rd day to postpone JEE, NEET exams [Video]

NSUI's hunger strike enters 3rd day to postpone JEE, NEET exams

National Students' Union of India's (NSUI) infinite hunger strike entered third day on August 28 as they are demanding to postpone JEE and NEET exams. The student wing of opposition Congress party..

Credit: ANI     Duration: 02:07Published
JEE, NEET: 'Congress will protest outside Central Govt offices', says Rajasthan Education Minister [Video]

JEE, NEET: 'Congress will protest outside Central Govt offices', says Rajasthan Education Minister

Rajasthan Education Minister and State Congress chief Govind Singh Dotasra informed that Congress will hold protests outside Central Government offices at 11 am on August 27 against the decision of..

Credit: ANI     Duration: 01:44Published
Kodak's U.S. loan disclosure put under scrutiny [Video]

Kodak's U.S. loan disclosure put under scrutiny

The U.S. Securities and Exchange Commission is investigating the circumstances around Eastman Kodak announcement of a $765 million government loan to make drugs at its U.S. factories, the Wall Street..

Credit: Reuters Studio     Duration: 01:38Published