Walmart is seeking to bring “everyday low prices” to medical care.
They announced the launch of a version of insulin that will be less expensive to people who do not have health insurance or struggle to afford the cost of life-saving drugs.
“These products will save customers between 58% to 75% 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 the company in a new release this week.
Starting this week, Walmart will be selling its own private-label version of analog insulin (a newer, more reliable form of the drug) to anyone who has a prescription. Called ReliOn NovoLog, it will also be available at Sam’s Club in mid-July.
The insulin will cost about $73 for a vial or about $86 for a package of pre-filled insulin pens.
“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,” said Dr. Cheryl Pegus, executive vice president, Walmart Health & Wellness. “We also know this is a condition that disproportionately impacts underserved populations.”
“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.”
ReliOn products include private label, lower priced versions of blood glucose monitors, lancets, and other diabetes management essentials.
According to CNBC, US lawmakers have scrutinized diabetes drug companies in the past, like Eli Lilly and the French company Sanofi, for increasing prices over the last two decades, leading Sanofi to roll-out a limited price reduction program.
Walmart worked directly with manufacturer Novo Nordisk to reduce costs.
“This price point, we hope, will improve and hopefully revolutionize the accessibility and affordability of insulin,” said Dr. Cheryl Pegus, Walmart’s executive vice president of health and wellness.