With the launch of the first private brand analog insulin this week, Walmart hopes to save diabetes patients 58 to 75 percent off the cash price of their medication.
Insulin is a hormone that helps regulate blood sugar levels and stores excess glucose for energy. When a person has diabetes, insulin is either absent or used inefficiently and insulin therapy is necessary for many people with the disease.
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Walmart announced Tuesday that it would launch vials and FlexPens of its private brand analog insulin under the ReliOn NovoLog labels. The rapid-acting synthetic insulin is manufactured by Danish pharmaceutical company Novo Nordisk.
“The new offering includes analog insulin vials ($72.88) and FlexPen ($85.88). These products will save customers between 58 percent to 75 percent off the cash price of branded analog insulin products, which translates to a savings of up to $101 per branded vial or $251 per package of branded FlexPens,” said a Walmart press release.
According to Reuters, Walmart launched a human insulin private label brand with a different version of the hormone that costs $24.99 a vial more than two decades ago. Around 10 years ago, the company also started selling other generic prescriptions for $4.
Both children and adults with type 1 or type 2 diabetes will be able to use new ReliOn NovoLog insulin to manage diabetes and customers will need a prescription in order to purchase. It should be available in Walmart stores this week and in Sam’s Club stores by mid-July.
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“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 of Walmart Health & Wellness. She said that the medication is a high-quality option even though it has a reduced cost.
As of 2018, 34.2 million Americans, approximately 10.5 percent of the population, had diabetes, according to the American Diabetes Association.
“Diabetes often comes with high medical costs, estimated around $9,601 per person per year,” said American Diabetes Association CEO Tracey D. Brown.
Patients should consult with their doctor before changing their prescriptions.