California will begin making its own low-cost insulin in an effort to make it more financially accessible amid soaring prices for the life-saving medication, Gov. Gavin Newsom announced Thursday
The move is possible through an allocation of $100 million in the state budget for the manufacture of the medication at a cheaper price."Nothing, nothing epitomizes market failures more than the cost of insulin," he said in a video posted on the governor's official Twitter page.
More than 8 million Americans with diabetes depend on insulin, which has been notorious for being among prescription drugs experiencing steep price surges. Read MoreThe high cost has led an estimated 1 in every 4 people with diabetes to ration or skip doses, according to a study published in 2019 in the medical journal JAMA Internal Medicine. Patients who are Black, Latino or Native American are disproportionately affected because they are more likely to be uninsured or underinsured.
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