“Nothing epitomizes market failures more than the cost of insulin,” Gov. Gavin Newsom, a Democrat, said in announcing the plan. California's budget allocates just over $100 million for the development and production of the medication. Meanwhile, Republican senators call for hearings on a national plan to tackle the high costs of insulin.
The Hill:
Newsom Announces California Will Produce Its Own ‘Low Cost’ Insulin
California Gov. Gavin Newsom (D) announced on Thursday that his state will be producing its own “low cost” insulin, stating, “People should not go into debt to get lifesaving medication.” Newsom said that the state budget he recently signed includes $100 million for California to “contract and make [its] own insulin at a cheaper price, close to at cost, and to make it available to all.” (Breslin, 7/7)
Orange County Register:
Newsom: California To Develop Low-Cost Insulin
California is ready to make its own insulin. Included in the recently signed budget package was nearly $101 million to develop and manufacture low-cost biosimilar insulin products. The undertaking is designed to increase the affordability and availability of insulin in California. “In California, we know people should not go into debt to receive life-saving medication,” Gov. Gavin Newsom said in a video Thursday. (Schallhorn, 7/7)
In insulin news from Capitol Hill —
The Hill:
GOP Senators Call For Hearings On Bipartisan Insulin Cost Bill
Five GOP senators are calling on the Senate Finance Committee to hold hearings on bipartisan legislation to lower the cost of insulin. Led by Sens. Pat Toomey (Pa.), and John Barrasso (Wyo.), the Republicans said they were concerned the legislation from Sens. Susan Collins (R-Maine) and Jeanne Shaheen (D-N.H.) will be brought to the Senate floor for a vote without going through the committee first. (Weixel, 7/7)
A report details the burden of paying for insulin —
YaleNews:
Insulin Is An Extreme Financial Burden For Over 14% Of Americans Who Use It
In a new study, Yale researchers provide much-needed data on Americans who use insulin, whether and how they’re insured, and who is most at risk of extreme financial burden. According to their findings, 14% of people who use insulin in the United States face what are described as a “catastrophic” levels of spending on insulin, meaning they spent at least 40% of their postsubsistence income — what is available after paying for food and housing — on insulin. The findings were published July 5 in Health Affairs. (Locklear, 7/5)
Health Affairs:
Catastrophic Spending On Insulin In The United States, 2017–18
Insulin is considered an essential medicine for people with diabetes, but its price has doubled during the past decade, posing substantial financial barriers to patients in the US. In this article we describe out-of-pocket spending on insulin and consider risk factors that could contribute to the likelihood of a person experiencing catastrophic spending, defined as spending more than 40 percent of their postsubsistence family income on insulin alone. (Bakkila, Basu and Lipska, 7/1)
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