California governor announces his state is set to make its own insulin

SACRAMENTO, Calif. (CNN) – California is socializing insulin production. Governor Gavin Newsom announced the state will start manufacturing its own.

He said, “Nothing epitomized market failures more than the price of insulin. Many Americans spend $300 to $500 per month for this life-saving drug. California is now taking matters into our own hands.”

California will allocate $100 million to the project. Half of that will be used to develop low-cost insulin products. The other half is earmarked for a manufacturing facility in the state.

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