The state of California and a nonprofit will be teaming to significantly lower the price of insulin for patients it was announced on Saturday, March 18 by Gov. Gavin Newsom at a press conference in Downey.
Newsom said that the state has secured a 10-year partnership with non-profit Civica that will bring down the cost of insulin about 90 percent, or no more than $30 a vial. That could save patients between $2,000 and $4,000 a year, according to Newsom.
No new prescription will be needed and the insulin will be available with any insurance plan, he said.
Newsom said the $30 will be the “full total cost” of the insulin, which includes production, manufacturing and distribution.
“They’re not looking to make a buck, this is at our cost collectively,” said Newsom of Civica. “That will drive down the cost for everybody else.”
Newsom said that a 10mL vial of insulin will be no more than $30 as opposed to $300. A box of five pre-filled 3mL pens will cost no more than $55, at a normal cost of $500.
Jennifer Spalding, Civica’s chief commercial officer, general counsel and compliance officer, said Saturday that Civica was formed in 2018 as a nonprofit pharmaceutical to “solve a problem of critical drug shortages in the U.S.”
“We have one overarching principle of Civica, and that is to do what’s in the best interest of patients,” Spalding said. “And because of that mission, we have expanded our efforts outside of the hospital to focus on bringing down the cost of health care for consumers at the pharmacy counter.”
Newsom said the the state is not stopping with insulin.
“We have the opportunity now to explore other manufacturing opportunities and as a consequence, disrupt more markets, lower costs, more costs for real folks,” Newsom said.
Newsom also announced a plan to combat the Fentanyl and opioid crises by empowering the state to manufacture Naloxone.
Naloxone is regarded as a lifesaver by first responders, medical teams and others….
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