New Walmart-branded insulin will save diabetes patients money, retailer says
The company is releasing insulin vials and pens under its ReliOn house brand. They'll show up in Walmart pharmacies this week.
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Walmart is releasing its own brand of insulin vials and pens, which it says will offer significant savings to patients with diabetes.
The new products will be released under Walmart's ReliOn brand and manufactured by the pharmaceutical company Novo Nordisk, the retail giant said in a news release Tuesday. The new ReliOn NovoLog insulin injection, a rapid-acting insulin, will be available at Walmart pharmacies this week and at Sam's Club pharmacies in mid-July, Walmart said.
Walmart said that with the new products, people living with diabetes may save between 58% and 75% off the cash price of branded analog insulin products, or a yearly savings of $101 per branded vial or $251 per package of FlexPens. (The savings estimates were calculated based on patients purchasing insulin without prescription drug insurance, Walmart said in its release.)
A box of five 3-milliliter FlexPens (prefilled insulin pens) will retail for $85.88, and a 10-milliliter vial of insulin will sell for $72.88, a Walmart spokesperson said. Customers will need a prescription for purchase.
Analog or lab-made insulin is used by people with diabetes to regulate blood sugar levels. Insulin is a hormone produced by the pancreas that regulates the amount of glucose in your bloodstream. If someone's body doesn't produce insulin, or doesn't respond well to insulin, they need artificial insulin. For these people, insulin is a life-saving drug, but it can be prohibitively expensive.
"We know many people with diabetes struggle to manage the financial burden of this condition, and we are focused on helping by providing affordable solutions," Cheryl Pegus, executive vice president of Walmart Health and Wellness, said in a statement. "We also know this is a condition that disproportionately impacts underserved populations."
In Walmart's release, the chief executive officer of the American Diabetes Association, Tracey D. Brown, said the yearly estimated medical cost of diabetes is around $9,601 per person. "We welcome all affordable solutions that make diabetes management more accessible to millions of Americans living with diabetes," Brown said.