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California Gov. Newsom vetoes bill that would have limited insulin prices

Gov. Gavin Newsom has vetoed a bill that would have stopped insurance companies from charging more than $35 for insulin.

The bill would have banned health plans and disability insurance policies from imposing any out-of-pocket expenses on insulin prescription drugs above $35 for a 30-day supply. That would have included deductibles and co-pays.

Newsom, a Democrat, said earlier this year that California would soon start making its own brand of insulin. The state has a $50 million contract with the nonprofit pharmaceutical company Civica Rx to manufacture the insulin under the brand CalRx. The state would sell a 10 milliliter vial of insulin for $30.

 

In January, California Attorney General Rob Bonta sued the companies that make and promote most of the nation’s insulin, accusing them of colluding to illegally increase the price.

In March, the largest insulin makers announced they would voluntarily reduce the price of their products.

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