California, United States has decided to produce low-cost insulin for all citizens suffering from diabetes, making the life-saving medication available at a reasonable price.
“Nothing, nothing epitomizes market failures more than the cost of insulin,” says California Governor Gavin Newsom, who announced his decision to allocate $100 million from the state’s budget to this project.
The first $50 million will fund a California-based manufacturing facility and the second one for the development of insulin products. More than 8 million Americans rely on insulin, one of the prescription drugs with the steepest price hikes. According to a 2019 study, one in every four people who have diabetes has to ration or skip doses due to high prices. Black, Latino, and Native American patients are more likely to be affected since a large proportion of them are uninsured or underinsured. Utah-based nonprofit generic drug maker Civica Rx also plans on making and selling more affordable insulin by early 2024, for under $30 per vial.