Robert Besser
22 Mar 2023, 20:19 GMT+10
SACRAMENTO, California: The state of California and generic drug manufacturer Civica have announced a 10-year partnership to produce affordable, state-branded insulin, which is expected to be available to the public beginning in 2024.
As pressure builds on drugmakers and insurers to cut the cost of the drug, another major insulin maker, Novo Nordisk, pledged steep price cuts this week.
California's emergence as an insulin-maker could cause prices to collapse. Research has shown that prices for insulin have more than tripled in past decades, Democratic Gov. Gavin Newsom said at a ceremony announcing the partnership.
"We are intent to make this about market disruption," he added, calling the partnership "a game changer" for 8 million Americans who use insulin to treat diabetes.
However, state and non-profit Civica have not yet located a California-based manufacturing facility, and regulatory approvals will be required.
A 10- milliliter container of the state-branded insulin would cost $30, but competitors could cut their prices and undercut the state product, Newsom said.
Anthony Wright, executive director of Health Access California, a statewide consumer health care advocacy group, lauded the announcement, stressing that such efforts to develop a competing generic product could force insulin makers to cut prices.
However, Wright said, "The work to develop a generic, get FDA approval and set up manufacturing will take real time. There may even be more time in the effort to get doctors to prescribe the drug, insurers and pharmacy benefit managers to include it on their formularies and patients and the public to accept and ask for it."
The proposed program could save many patients between $2,000 and $4,000 annually, and lower costs could result in substantial savings, as the state buys insulin every year for those patients on its public health plans, according to state documents.
Get a daily dose of Arab Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Arab Herald.
More InformationJaipur (Rajasthan) [India], June 2 (ANI): A delegation of the Rajasthan Muslim Waqf Board on Thursday met Chief Minister Ashok ...
Washington DC [US], June 2 (ANI): Congress leader Rahul Gandhi, during an interaction with journalists at the National Press Club ...
Hyderabad (Telangana) [India], June 2 (ANI): Telangana Bharatiya Janata Party (BJP) chief Bandi Sanjay dared All-India Majlis-e-Ittehadul Muslimeen (AIMIM) chief ...
TEHRAN, June 1 (Xinhua) -- The Iranian foreign minister has said that Iran welcomes any initiative aimed at restoring its ...
washington - Iran carried out 142 executions in May, marking the highest number of people put to death in one ...
washington - The United States on Thursday imposed sanctions on members and affiliates of Iran's Islamic Revolutionary Guard Corps and ...
New York [US], June 2 (ANI): Without providing evidence, Russia's Federal Security Service claimed on Monday that several thousand iPhones ...
Abu Dhabi [UAE], June 2 (ANI/WAM): Two Mexican officials said that the UAE is a significant strategic partner for Mexico ...
Abu Dhabi [UAE], June 2 (ANI/WAM): The UAE has won the presidency of the World Meteorological Organisation (WMO), which functions ...
Geneva [Switzerland], June 2 (ANI): Former Director of the National Meteorological Service of Argentina, Celeste Saulo, has been appointed as ...
UNITED NATIONS, June 1 (Xinhua) -- The Security Council supports the continued presence of the United Nations in Sudan and ...
TEHRAN, June 1 (Xinhua) -- The Iranian foreign minister has said that Iran welcomes any initiative aimed at restoring its ...