Walmart announced Tuesday that it’s begun selling a new low-priced insulin called ReliOn NovoLog -- a private-label version of analog insulin.
In making the drug available, Walmart said it hopes to “revolutionize the access and affordability to diabetes care.” Walmart is hoping the new insulin will be easier for financially strapped diabetes sufferers -- or those without health insurance -- to afford. The prescription-only product will cost about $73 for a vial or about $86 for a package of prefilled insulin pens.
In an announcement, Walmart noted that more than 34 million people in America live with diabetes, and about 1.5 million more are diagnosed with the disease every year. About 14% of Walmart customers live with diabetes and need insulin.
“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. We also know this is a condition that disproportionately impacts underserved populations,” said Dr. Cheryl Pegus, executive vice president, Walmart Health & Wellness.
“With ReliOn NovoLog insulin, we’re adding a high-quality medication for diabetes to the already affordable ReliOn line of products and continuing our commitment to improve access and lowering cost of care,” Pegus said.
Increasing affordability
Walmart said it worked with pharmaceutical company Novo Nordisk to lower costs “without compromising quality.” Compared with competitors in the branded analog insulin product market, Walmart said the drug will offer savings of up to $101 per vial or $251 per package of branded FlexPens.
ReliOn NovoLog is intended for use by patients with both type 1 and type 2 diabetes -- both adults and children. The drug will also be available at its Sam’s Club stores starting in mid-July.
“This price point, we hope, will improve and hopefully revolutionize the accessibility and affordability of insulin,” Pegus told reporters. “We know that many people with diabetes struggle to manage this chronic condition because of its financial burden.”