California’s recently enacted $308 billion state budget included a $100.7 million program for the state to produce low-cost insulin. Of this amount, $50 million is earmarked for product development and $50 million is dedicated to building an in-state manufacturing facility.
“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,” Gov. Gavin Newsom remarked when announcing the passage of the insulin plan. “California is now taking matters into our own hands.”
While it is very unfortunate that Americans pay high prices for lifesaving insulin, high insulin
