Federal Government Gives $765M Loan To Kodak To Make Chemicals For Drugs
The deal is aimed at reducing U.S. reliance on China. Other companies in the news include Roche, Reata and Cepheid.
The Washington Post:
Kodak To Produce Pharmaceutical Ingredients With U.S. Government Loan
In a deal aimed at reducing U.S. reliance on China, the federal government announced Tuesday that it plans to give Eastman Kodak a $765 million loan to start producing the chemical ingredients needed to make pharmaceuticals. The company plans to establish a new division, Kodak Pharmaceuticals, that will focus on the building blocks used to produce generic drugs, according to a joint statement from Kodak and the lending agency, the U.S. International Development Finance Corporation, or DFC. (Whalen, 7/28)
Reuters:
Roche Bid To Retool Arthritis Drug For COVID-19 Fails
Roche’s attempt to retool its rheumatoid arthritis drug Actemra/RoActemra drug to treat patients hospitalised with severe COVID-19-related pneumonia has failed in a late-stage trial, the Swiss company said on Wednesday. Roche had launched the 330-patient trial in March as it joined other pharmaceutical companies seeking to re-purpose existing medicines to fight the pandemic. (Revill, 7/29)
Dallas Morning News:
Plano Biopharma’s Kidney Drug Gets Special FDA Approval For COVID-19 Trials At NYU
Biopharmaceutical darling Reata is supplying its experimental kidney drug to New York University’s prestigious Grossman School of Medicine to study its effects on COVID-19 patients. The research team is led by cardiologist and NYU professor Dr. Sripal Bangalore, a new member of Plano-based Reata Pharmaceuticals’ advisory board who helped care for COVID patients in New York at the height of the pandemic. He’s also director of complex coronary intervention at NYU. (Walters, 7/28)
Stat:
Cepheid Is Accused Of Overcharging And Undersupplying Its Covid-19 Test To Poor Countries
As controversy rises over equal access to Covid-19 medical products, a manufacturer of rapid, point-of care tests is being urged to lower the price of its diagnostic and also increase sales to a World Health Organization diagnostics consortium designed to serve low-income countries. At issue is a test developed by Cepheid, which charges $19.80 for the test for 145 developing countries represented by the consortium. Doctors Without Borders argues the company could still make a profit if the price was lowered to $5. (Silverman, 7/28)
