California plans to make its own insulin
brand.The state Budget includes $100 million to develop three types of insulin products and invest in a manufacturing facility. SACRAMENTO, Calif. — — A vial of insulin cost $25 in 1995, back when Chris Noble was 5 years old and just learning how to manage his Type 1 diabetes with the help of his parents and his doctors.
Newsom and state lawmakers still have many details to work out, including contracting with a private company to do most of the work. But the budget was a put-his-money-where-his-mouth-is moment for Newsom, who has been calling for the state to launch its own brand of generic drugs to lower the overall price of medication.
But the market for infant botulism treatments is small, with about 110 cases reported each year, according to the U.S. Centers for Disease Control and Prevention. One course of California's botulism treatment costs more than $57,000, according to a legislative analysis. But over time, the insulin market was slowly cornered. Today, just three companies produce most of the world's insulin. In the United States, the line between an insulin manufacturer and a patient is not straight. It zigs and zags between insurance companies and pharmacy benefit managers — third parties that managed prescription drug benefits for health plans.
“That's why California's market power matters,” Wright said. “To a Wall Street investor, driving down the cost of insulin means you might not be able to get your investment back. To California, driving down the price of insulin is a real savings to both taxpayers as well as to our residents.”
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