SACRAMENTO, Calif. (KION-TV)– Governor Gavin Newsom announced Thursday a plan to allocate $100 million in state funding to have the state make its own insulin.
“Nothing epitomizes market failure more than the cost of insulin,” said Newsom. “Many Americans experience out-of-pocket costs anywhere from $300 to $500 per month for this life-saving drug.”
Half of the funding will go towards developing low-cost insulin products, and the other $50 million will be spent on a Califronia-based insulin manufacturing facility.
This is in hopes of creating new, high-paying jobs and a more robust supply chain in California.
R&I – FS
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Article URL : https://kion546.com/news/2022/07/07/governor-gavin-newsom-announces-california-will-make-its-own-insulin/