By The Financial District
Mar 26, 20231 min
California Democratic Gov. Gavin Newsom said that California plans to cut the cost of insulin by 90% through a new collaboration with Civica Rx, a nonprofit generic drugmaker, AJ McDougall reported for The Daily Beast.
Photo Insert: Pending approval by the US Food and Drug Administration (FDA) is a 10-milliliter vial of state-label insulin could soon be offered for no more than $30.
By doing so, California hopes to become the first state to produce the life-saving drug for its residents.
The contract between Civica Rx and CalRx—a California Department of Health Care Services program—is a 10-year agreement worth $50 million, and covers three forms of insulin: Glargine, lispro, and aspart, National Public Radio (NPR) also reported.
Pending approval by the US Food and Drug Administration (FDA) is a 10-milliliter vial of state-label insulin could soon be offered for no more than $30. Brand-name insulin is sometimes sold for as much as $300 a vial.
“This is a big deal, folks,” Newsom said. “This is not happening anywhere else in the United States.”