Ticker: California aims to make its own insulin; deal on opioids

A vial of insulin cost $25 in 1995, back when Chris Noble was 5 years old and just learning how to manage his Type 1 diabetes with the help of his parents and his doctors.

Nearly three decades later, Noble says that same vial of insulin costs more than $300 — a 12-fold increase for something he and millions like him can’t live without.

“It’s as essential as water,” Noble said.

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.

Generic opioids deal

A former opioid manufacturer has agreed in principle to pay up to $2.4 billion in a deal with a dozen states over its marketing and product safety practices, state attorneys general announced Friday.

The company, Allergan, is now part of AbbVie but sold its generics division Actavis, including its opioid products, to Teva Pharmaceuticals six years ago. Under the settlement, payments will be made to state and local governments, Pennsylvania Attorney General Josh Shapiro said.

The agreement means pharma companies have consented to pay more than $40 billion to settle opioid crisis claims regarding manufacturers and distributors, The Associated Press has found.

The agreement came days after a similar, $4.3 billion agreement was reached with Teva Pharmaceuticals.