Gas prices are not the only thing rising across the country. The cost of insulin has risen so high that California Governor Gavin Newsom has decided that his state should produce its own in hopes of mitigating the cost. During a recent press conference, Gavin Newsom announced that his state would dedicate $100 million to developing its own insulin for those looking to regulate their blood sugar levels.
“Nothing epitomizes market failures more than the cost of insulin,” Newsom stated.
“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.”
This is not the first time that Newsom has committed to mitigating the cost of prescription drugs for California residents. In 2020, Newsom introduced a program called CalRx. In theory, the program aims to create generic drugs and sell them at more affordable prices. Unfortunately, the program has taken time to roll out as development moves slowly.
At first glance, it appears that Newsom’s decision to double down on his state’s efforts to manufacture prescription drugs has been well received.
“Yesterday California announced that it will manufacture its own insulin. I’m so proud that our state is leading the nation in making this essential drug affordable and accessible for millions who need it,” Shoshana Ungerleider, MD tweeted.
“This is great news for Californians! Americans pay more than 8x what people in most countries pay for insulin. It’s how 4 out of 5 insulin users fall into debt! California is standing up for its people,” congressional candidate Amane Badhasso added.
Newsom has not indicated when the program will offer insulin to residents. However, he did indicate that many California residents would pay half of what they are currently paying for the treatment under his proposed plan.
California is going to make its own insulin.
It’s simple. People should not go into debt to get life-saving medication. pic.twitter.com/yB4mpGjtQO
— Gavin Newsom (@GavinNewsom) July 7, 2022