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Gov. Gavin Newsom has until Sept. 30 to sign or veto the measure. Photo: Agustin Paullier/AFP via Getty Images

California's state legislature approved a measure this week that would allow it to become the first state to develop its own line of generic drugs, including insulin, to tackle rising pharmaceutical prices.

Why it matters: If passed, the motion would put California in direct competition with major generic and brand-name drug manufacturers.

  • Still, it could take years for the state to successfully bring products to the market.

How it works: Taxpayers would pay for the $1 million to $2 million in startup funding costs, in addition to staff costs, state fiscal analysis shows.

  • The bill specifically would require the state to make “at least one form of insulin, provided that a viable pathway for manufacturing a more affordable form of insulin exists at a price that results in savings.”
  • No other specifics of which drugs would be secured by the state were included.

What's next: Gov. Gavin Newsom (D) will have until Sept. 30 to sign or veto the measure.

Go deeper

Updated Nov 20, 2020 - Politics & Policy

Georgia certifies election results

Georgia Secretary of State Brad Raffensperger. Photo: Paras Griffin/Getty Images

Georgia election officials and Gov. Brian Kemp (R) certified the state's election results on Friday, AP reports.

Why it matters: President-elect Biden now officially wins the state by a little more than 12,600 votes, though the Trump campaign has until Tuesday to request a recount since the margin is within 0.5%.

46 mins ago - World

Putin foe Navalny to be detained for 30 days after returning to Moscow

Russian opposition leader Alexey Navalny. Photo: Oleg Nikishin/Epsilon/Getty Images

Russian opposition leader Alexey Navalny has been ordered to remain in pre-trial detention for 30 days, following his arrest upon returning to Russia on Sunday for the first time since a failed assassination attempt last year.

Why it matters: The detention of Navalny, an anti-corruption activist and the most prominent domestic critic of Russian President Vladimir Putin, has already set off a chorus of condemnations from leaders in Europe and the U.S.

Biden picks Warren allies to lead SEC, CFPB

Photo: Justin Sullivan/Getty Images

President-elect Joe Biden has selected FTC commissioner Rohit Chopra to be the next director of the Consumer Financial Protection Bureau (CFPB) and Obama-era Wall Street regulator Gary Gensler to lead the Securities and Exchange Commission (SEC).

Why it matters: Both picks are progressive allies of Sen. Elizabeth Warren (D-Mass.) and viewed as likely to take aggressive steps to regulate big business.