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Answer:
Yes; the two have NOTHING to do with each other. Insulin is a naturally-occurring hormone created in the beta cells of the pancreas; when that fails (as in T1 - Type 1 Autoimmune DM - Diabetes Mellitus), or is impaired (as in Type 3c Pancreatogenic DM), or resisted (as in Type 2 Insulin-Resistant DM), exogenous insulin injections will (T1 and T3c) or may be (T2) required. Modern insulins are created by genetically-modified e. coli bacteria (or yeasts), that produce a biochemically identical hormone to human insulin.
Nowadays, penicillin is made using penicillium mold, which naturally produces penicillin. The mold is grown with sugars and other ingredients through deep-tank fermentation until the penicillin is able to be separated from the mold. Once separated, penicillin can finally be purified and will be ready for use as an antibiotic.