As part of a goal to lower costs of some very common medicines, Newsome and Cali have set aside funding to develop their own brand if insulin in a public/private partnership. Seems like he is working to solve problems instead of chasing a boogeyman at Reedy Creek or hiding at Paypal. California aims to make its own insulin brand to lower price | AP News Health care advocates have bemoaned for years that insulin, while inexpensive to produce, is held hostage by a U.S. health care system stubbornly resistant to reforms as companies monopolize and maximize profits. Now, with several insulin patents nearing their expiration dates, California is looking to disrupt that market by making its own insulin and selling it for a much cheaper price. Last month, after a few years of study, state lawmakers approved $100 million for the project, with $50 million dedicated to developing three types of insulin and the rest set aside to invest in a manufacturing facility. Gov. Gavin Newsom and state lawmakers still have many details to work out, including contracting with a private company to do most of the work. But the budget was a put-his-money-where-his-mouth-is moment for Newsom, who has been calling for the state to launch its own brand of generic drugs to lower the overall price of medication.
Wish that in parallel, they set aside money to buy healthy, fresh foods for the poor and address root cause of Type II Diabetes.
You socialist! However, I agree we do need incentives or community support for better nutrition. Michelle Obama got ridiculed by the right for making it an issue.
Great idea but why not instead partner with a 3rd party drug compounder? They already have the infrastructure to make it. About | Empower Pharmacy Largest compounder in N. America.
It says it will be a public-private partnership, but they haven’t selected a manufacturer yet. I’d guess the “private” side of this probably will be a company like that, or some other manufacturer of generic drugs.
I saw that but why the need for 50 million for a manufacturing facility? When a private drug maker would already be able to do it with small tweaks to their own manufacturing? Also they would flip the bill with guaranteed sales from the state. I'm just tossing things around my head. They probably have thought this all out.
I'd guess that not that many companies have that sort of slack at their existing facilities. Also, much of the manufacturing of generics happens overseas, whereas a government partnership would probably require them to be manufactured somewhere in California.
I didn't think about the possible requirement of it being made in Cali. I just thought of Empower Pharmacy because I have a client that deals with them on a business level and knows the owner personally. Innovative Houston-based pharmacy debuts new $55M facility Also I realize I answered my own question about the need for 50 million for manufacturing. LOL[/QUOTE]
Google Robert Jordas or vertical farming. Can grow so much in a old warehouse in the middle of an urban environment. This is an associate that is constantly pioneering greater yield in Finland.
Oddly enough a lot of drugs are made in Puerto Rico (absolutely no idea why), the pharmacy supply chain has been messed up for longer than the pandemic, they’ve actually had some issues w/tight supply since Hurricane Maria in 2017.
They used to have a pretty good tax carve out if I remember correctly. But I think they were leaving PR even before Maria because of changes to tax law.
Yeah, I'd argue it would be smarter to take more equity in the business to allow them more flexibility, but governments don't tend to work that way and I am sure the government officials will want their ribbon cutting.
Not if it is just handing out money, or even just handing out a bunch of vegetables. My thought, and I know most will poo-poo it (and I am ok with that) is bring back real Home Ec/Health Ed and from early on teach kids in poor areas (and I don't care what their skin color is, how they vote, etc....) what the impact of poor nutrition is. Then have real cooking classes teaching them how to really cook vegetables and how to do things with fruits. At the end of each week send them home with a kit for a few meals and homework to cook for the family and show off what they learned. It would be expensive and take many years, but at this point, just handing out money or free food is not getting us where we would like to go, so why not try something radically different.
The latest in insulin manufacture: scientists figured out how to get a genetically-modified cow to produce human insulin in its milk. Cow Hacked With Human DNA Produces Milk Containing High Levels of Human Insulin
given this, why??? Why not wait & see what competition will do??? Of, course it's fixing to be cheaper. smells like a stunt. Plus, what the patient pays does seem to = the "price" if gov has to sink a lot of start up costs.