The August 27, 1923 issue of Time magazine featured Frederick G. Banting on its cover, highlighting his groundbreaking work in the discovery of insulin. At the time, Banting was a young Canadian physician whose research at the University of Toronto, alongside medical student Charles Best, led to the isolation of insulin—a breakthrough that transformed the treatment of diabetes. His appearance on the cover underscored the significance of this medical advancement and the growing recognition of Canadian contributions to science.

Later that year, Banting, along with John Macleod, was awarded the Nobel Prize in Physiology or Medicine for the discovery of insulin. In a gesture of generosity, Banting shared his prize money with Best, acknowledging his essential role in the research. However, the omission of Best from the official Nobel recognition led to tensions between the two

Banting's legacy continues to be honored through various institutions and events, including the Banting House National Historic Site in London, Ontario, and the annual Banting Memorial Lectures, which celebrate advancements in diabetes research