Kodak Stock Plunges as $765 Million Loan Is Put on Hold

Eastman Kodak's (NYSE: KODK) hopes of becoming a key supplier to the pharmaceutical industry just hit a major snag.

The one-time camera and film giant was attempting to use a $765 million loan from the U.S. government to pivot its ailing business. Its plan was to launch Kodak Pharmaceuticals, which would produce pharmaceutical ingredients deemed critical in the fight against COVID-19. 

Now, those plans have been thrown into disarray.

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Source Fool.com