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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.
Rep. Maxine Waters (D-CA), chair of the House Financial Services Committee and other Democrats sent a letter to DFC head Adam Boehler August 4th asking why the agency was supporting a loan for Kodak, “an organization that was on the brink of failure in 2012 and was unsuccessful in its previous foray into pharmaceutical manufacturing, in its efforts to develop the capacity to produce up to 25 percent of domestic pharmaceutical components.” The committee is asking to see all communications concerning the loan.
A Kodak spokesperson declined to comment Saturday.
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