'Taking Matters Into Our Own Hands': Gov. Newsom Announces California Will Make Its Own Insulin
SACRAMENTO (CBS13) — California Gov. Gavin Newsom on Thursday announced that the state is fighting back against sky-rocketing drug prices and will start making its own insulin.
The California State Budget that was just signed by Newsom includes $50 million for the development of low-cost insulin products and another $50 million to make a California-based insulin manufacturing facility.
Newsom said the goal is to create insulin at a "cheaper price, close to at cost," and to be able to make it more available for those in need of the drug.
"Nothing epitomizes market failures more than the cost of insulin. Many Americans experience out-of-pocket costs anywhere from $300-$500 a month for this life-saving drug. California is now taking matters into our own hands," Newsom said in a video announcement posted to social media.
The manufacturing facility will provide new high-paying jobs and is meant to create a stronger supply chain for the drug within the nation.
"In California, we know people should not go into debt to receive life-saving medication," Newsom said.
The governor did not say when the construction of the facility would be complete or how much the state-made insulin would cost.