California’s Democratic Governor Announces State Will Produce Insulin

California Governor Gavin Newsom just announced that the state will spend $100 million to manufacture its own insulin to drive down the cost of the expensive life-saving drug.

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This is a big deal in my estimation if you know if it happens. and I don't know if I think it will happen. But here is Gavin Newsom announcing that they're going to spend 100 million dollars in the budget. In California. california to produce insulin. and the closest we've gotten to this is the VA will do this with a couple generic drugs if there's a shortage. They never talk about it. because there's no one it's in you know no one who's doing that it's in their interest to publicize it. because they don't want to keep their head down. And if I remember correctly Elizabeth Warren had a proposal to also have the government produce some generic drugs if there was a shortage. but no one has come anywhere close to we're just going to take this one class of generic drugs insulin that was actually designed with trying to keep it generic in perpetuity I think by the Canadian who developed it. and this is you know it's a 100-year-old drug I think it is now. and this I think is a big big deal. listen to this. On my first day in office, I signed an executive order to put California on the path toward creating our own prescription drugs. and now it's happening. California is going to make its own insulin. nothing. 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. California is now taking matters into its own hands. the budget I just signed sets aside 100 million dollars so we can contract to make our own insulin at a cheaper price close to cost and to make it available to all. 50 million will go towards the development of low-cost insulin products an additional 50 million will go towards a California-based insulin manufacturing facility that will provide new high-paying jobs and a stronger supply chain for the drug. because in California we know people should not go into debt to receive life-saving medication.