FOX Business: Kodak’s New Focus … A Sharp Turn From Film to Pharma

The Eastman Kodak Company is ready for its closeup.

The 130-year-old film company made big moves this year to bulk up its balance sheet and push into a brand new field – pharmaceuticals.

Kodak completed a pension reversion in November, which unlocked $1 billion.

The funds create a new pension fund, bringing debt down to $200 million, and put $300 million in cash on the balance sheet.

The goal now – innovate.

Kodak has always been a chemical company. Executives are using that expertise to move into the pharmaceutical industry.

FOX Business’s Lydia Hu speaks with Eastman Kodak Company executive chairman and chief executive officer Jim Continenza about how, while the company is still focused on film, it believes it has the expertise and infrastructure to grow by delving into pharmaceuticals.