Gavin Newsom

Gavin Newsom is an American politician serving as Governor of California.

Newsom was a participant in the inaugural group for the Forum of Young Global Leaders program in 2005.¹⁾

Newsom is an ex-step-nephew of Nancy Pelosi, former Speaker of the United States House of Representatives.²⁾

California is single handedly trying to solve all of America’s economic problems. Next up: transforming the pharmaceutical market By Andrew Marquardt - July 9, 2022 FORTUNE

Last week, California Gov. Gavin Newsom made headlines when he announced his state would be sending out one-time-only checks of up to $1,050 to qualifying residents to help battle high gas prices and rising inflation.

Now, the governor is tackling another major economic issue for many of California’s 40 million residents. Newsom said Thursday that the state will spend $100 million to begin manufacturing its own low-cost insulin, the life-saving diabetes medication, possibly upending the pharmaceutical market in the process.

The state plans to direct $50 million towards funding an insulin manufacturing facility in California, while the other $50 million will be spent to cover the cost of developing the drug.

“Nothing epitomized market failures more than the cost of insulin,” the Democratic governor said in a video announcement posted to his Twitter page. “California is now taking matters into its own hands…we know people should not go into debt to receive life-saving medication.” The high price and heavy cost of insulin in the U.S.

The rising cost of insulin has become “something of a poster child for Big Pharma’s price gouging in recent years,” Craig Stubing, who has Type-1 diabetes and hosts a podcast about managing life as a diabetic, told Fortune. ³⁾

The Washington Post July 8, 2022 California will make its own insulin to fight drug’s high prices, Newsom says by Timothy Bella

The California governor said he would use $100 million in state budget to make “insulin at a cheaper price” and “available to all.” ⁴⁾⁵⁾