Chinanews client, Beijing, July 31st (Peng Jingru) On the 30th, "Kodak was blown 13 times overnight" appeared on the Weibo hot search list.
Netizen: Is that Kodak that produces film? Thought it was the same name.
Kodak: Not the same name, but my deity.
On June 24, 2009, Kodak announced that it would cease production of the 74-year-old Kodak color film in 2009.
Kodak switched to pharmaceuticals, and its stock price soared frequently.
This forgotten "film giant" once again became popular because the US government will fund Kodak's entry into the pharmaceutical industry.
According to foreign media reports, the US government will provide Kodak with a $765 million loan for the production of "starting materials" and "active pharmaceutical ingredients" for generic drugs.
Since the outbreak of the new crown pneumonia epidemic in the United States, the US government has been seeking to get rid of its dependence on foreign drug production chains and encourage US companies to produce drugs and raw materials locally.
White House trade adviser Navarro said that once Kodak starts production, 1/4 of the active ingredients needed for the US anti-coronavirus drugs can be produced in Kodak Pharmaceuticals.
On the 28th local time in the United States, Kodak signed a letter of intent for investment with the International Development Finance Corporation of the United States, and the loan obtained was used to assist Kodak to establish a start-up company Kodak Pharmaceuticals.
Affected by the above news, Kodak's stock price rose more than 200% on the 28th, jumping to 7.94 US dollars. On the 29th, Kodak’s stock price soared again, the intraday increase once exceeded 650%, the stock price rose to $60, and a total of 20 circuit breakers were triggered.
As of the close on the 29th, Kodak's stock price closed at 33.20 US dollars per share, an increase of 318.14%, and the market value reached 1.45 billion US dollars.
Before Kodak became popular this time, many people's impression of Kodak may still remain in bankruptcy.
Data map: vintage camera. Photo by Li Peiyun, China News Network reporter
Due to the impact of digital, the demand for film continues to decline. From 2006 to 2012, Kodak's operating income continued to decline, reaching 10.568 billion US dollars, 10.301 billion US dollars, 9.416 billion US dollars, 7.609 billion US dollars, 5.993 billion US dollars, 3.585 billion US dollars, and 2.719 billion US dollars.
This "film giant", which once accounted for 75% of the world's photographic equipment market, officially filed for bankruptcy protection in 2012.
But the reality is that after so many years, Kodak is still alive.
Have you ever heard of Kodak mobile phones and Kodak coins?
Kodak, who was nailed to the "Pillar of Shame", an innovative negative textbook, officially declared out of bankruptcy protection in September 2013 after more than a year of self-rescue. As a price, Kodak was split into two independent companies.
In addition to refinancing and listing, and regaining its old business in printing and film, Kodak also began a "cross-border" journey.
Kodak announced its entry into the mobile phone industry at the end of 2014. In 2015, it launched its first Android smartphone IM5. In 2016, it launched the smartphone Kodak Ektra, which focuses on lens technology, but there is no splash.
In 2017, Kodak entered the fashion circle again, and successively cooperated with Forever 21, H&M and other brands, launched Kodak joint clothing, and cooperated with the skateboard brand Girl Skateboards to launch a joint skateboard.
In early 2018, Kodak even stepped into the blockchain field and launched Kodak Coin. The idea at the time was to use blockchain to combat image piracy. Photographers upload their works and sell them, using Kodak coins for transactions. But it also gradually disappeared from public view.
This cross-border pharmaceutical industry, whether Kodak, which shoulders the heavy responsibility, will rise again, is not yet known. In the four months before the stock price surge, Kodak's market value has been hovering around US$100 million. The US$765 million government loan obtained this time is more than 7 times the total market value of Kodak.
"Inspirational Kodak, survive in adversity. Making sports cameras, making mobile phones, making magazines, making beer, and making blockchains. I didn't do anything about it. I finally made a handful of medicine." Some netizens commented.
Data map: Photographers buy Kodak film at Beijing Photographic Equipment City. Photo by China News Agency reporter Tomita
Catch the ducks on the shelves, or professional counterparts?
However, stock price performance is not the only point that everyone cares about. What more people want to know is, "Does Kodak have a pharmaceutical history and technical foundation?" "Kodak and pharmaceuticals feel that they can't make a difference. Is such a big investment really not tricky?"
Not to mention, Kodak really once hit the pharmaceutical field.
In 1988, Kodak signed a merger agreement with Sterling Drug, a manufacturer of prescription drugs, over-the-counter drugs, and consumer products, and acquired the drug company Sterling for US$5.1 billion and US$89.50 per share.
At that time, Kodak's then Chairman and CEO, Colby H. Chandler, said: “The merger will accelerate our entry into the global pharmaceutical industry of more than 110 billion U.S. dollars and will provide us with attractive long-term sales and profitability. potential."
The chairman of Sterling at the time, John M. Pietruski, said that Kodak's growing drug research base will help the two merged companies "take a leading position in the pharmaceutical industry."
But neither of the flags stood up. Six years later, Kodak split up Sterling. According to media reports, the acquisition of Sterling has greatly increased Kodak's debt. By 1993, Kodak's debt had reached 9.3 billion US dollars. In 1994, Kodak divested its non-imaging business, sold Stirling Pharmaceuticals, and withdrew from the pharmaceutical market.
"The old brand engages in cameras, and who has never done medical treatment." Some people also said that they are optimistic about Kodak's entry into the pharmaceutical industry after 26 years, hoping that it "turns gorgeously with the foundation of material chemistry."
Indeed, Fujifilm, the second in the millennium who also makes films, has also entered the pharmaceutical industry. Toyama Chemical Pharmaceutical Co., Ltd., the research and development company of Avigan, which is well-known in the new crown pneumonia epidemic, was acquired by Fuji as early as 2009.
At present, the healthcare business has become one of Fuji's main revenue sources. Fuji's healthcare and high-performance materials had sales of US$6.8 billion in the first three quarters of fiscal 2019, accounting for 42.88% of total revenue.
Kodak's business today also includes silver antibacterial materials and applications, specialty chemicals, medical imaging, etc.
A screenshot of the medical imaging page of Kodak's official website.
In April of this year, Kodak announced the supply of isopropanol to New York, USA, for the production of hand sanitizers to fight the raging new coronavirus. The isopropanol provided by Kodak is an important ingredient in the production of hand sanitizers, with an alcohol content of more than 75%.
However, rather than the question of whether Kodak can win a round in the pharmaceutical industry, some photographers want to ask: Can film be cheaper?
After all, a roll I bought for 16 yuan is now 50 yuan. (Finish)