[Insulin molecular model image Dr_Microbe/Adobe Stock]
The state of California has established a $50 million collaboration over a decade with the generic drug manufacturer Civica. The goal of the collaboration is to create affordable state-branded generic insulin.Qualified individuals may obtain a 10-mL vial of generic insulin for $30 or less. California plans to provide a pack containing five prefilled 3 mL pens for $55 or less.
Governor Gavin Newsom hopes California’s emergence as an insulin-maker will lead insulin prices to collapse.
Echoing these efforts, President Biden has made it clear that his administration is dedicated to bringing down health care expenses. In that vein, Biden has urged pharmaceutical giants to rein in insulin prices.
Major insulin makers respond to pressure for lower pricesIn recent weeks, Eli Lilly (NYSE:LLY), Novo Nordisk (NYSE:NVO) and Sanofi (Nasdaq:SNY) …