American diabetes patients pay roughly eight times as much for insulin as the rest of the developed world. This has led to California Gov. Gavin Newsom announcing the state will begin making its own insulin to help lower the cost of the diabetes medication. The insulin market is controlled by three main companies: Eli Lilly, Novo Nordisk and Sanofi. Why?

WSJ explains how insulin got so expensive in the U.S. and explores whether a policy initiative like California's could succeed in driving down costs.

0:00 Why California wants to create its own insulin
1:07 The insulin market
4:00 Lower-cost alternatives
6:33 California’s plan

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