A recent article from The Verge discussed the state of California’s plan to combat the skyrocketing prices of life-saving insulin by making their own. Governor Gavin Newsom said, “Nothing epitomizes market failures more than the cost of insulin.” Manufacturers have been making insulin since the 1920s, but a series of patents has blocked the hormone from market efficiency. Some people are paying $300-$500 a month to treat their diabetes, and roughly 25% of people are forced to ration their doses.
The initiative is part of Newsom’s CalRx plan from 2020, a program aimed at lowering medication costs for Californians by partnering with manufacturers to create their own. The pandemic slowed the progress of the program, but the new insulin development could help kickstart the effort. Newsom hasn’t announced when the insulin will be available or how much it will cost, but he has hinted that it could at a minimum be cut in half.
