Question of Week | Cost of the Insulin Patent?

To celebrate National Diabetes Month, our Questions of the Week will challenge test takers on their historical knowledge of the discovery of insulin. Thanks for joining us on this fun adventure.

On January 23rd, 1923, Dr.’s Banting, Best, and Collip were awarded the patent for insulin.

How much did Banting, Best, and Collip each charge the University of Toronto for their share of the insulin patent?

  • They sold the patent for insulin for one million dollars to be divided by the 3 patent owners.
  • They retained the patent for insulin to ensure exclusive rights.
  • They sold the patent for insulin for $1 each.
  • They sold the patent for insulin to pharmaceutical companies for an undisclosed amount.

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