Gavin Newsom Announces California will Create its own Insulin
The California Governor has approved a budget allocating $100 Million toward the efforts...
Gavin Newsom may be padding his bid for the 2024 President Election as the California Governor announced his governing state will produce its own insulin. Newsom approved a budget that is allocating $100 Million for the state to create insulin in response to the outrageously high prices which have made it nearly impossible for some people with diabetes to get their hands on it.
"Nothing epitomizes market failures more than the cost of insulin. Many Americans experience out-of-pocket costs anywhere from $300 to $500 per month for this life-saving drug. California is now taking matters into our own hands."
Gavin Newsom said.
$50 Million of the budget will be used to create the insulin manufacturing facility while the other $50 Million will be used to actually develop the insulin products. There is no set time frame for the development of either the drug or the facility. There is also no exact verbiage stating what the price will be but in state plans, it is noted to be "at a cheaper price, close to at-cost, and to make it available to all."
This isn’t the first effort being made by a lawmaker to attempt to ease the price of insulin. Three years ago, Colorado became the first known state to cap insulin co-pays for people with private insurance. In 2022, the House passed a bill that would cap the monthly cost of insulin at $35 per person.
Rising prices of insulin have been an issue for years on end. Some people have to ration the insulin they can afford…