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Walmart announced on Tuesday, June 29, that it will start selling a cheaper version of the expensive insulin that most diabetic patients need to have regularly. The retailer unveiled the low-priced drug so that millions of Americans could have access to it even if they are on tight budgets.
Walmart’s intention for the release of inexpensive insulin
Walmart said that it priced the insulin in a manner that it could fit into the budgets of the patients, especially those who do not have any health insurance. The cheaper drug is also intended to help those who are struggling to pay for it.
Insulin is a lifesaving drug for diabetic people. Without it, many would suffer from various complications, and worse, it could also result in death since it is something that regulates glucose and carbohydrates in patients.
As per CNBC, starting this week, Walmart will be selling ReliOn NovoLog, an exclusive private-label version of analog insulin. This can be used by both adults and children as long as they have a prescription.
The price point of Walmart’s insulin drug
This insulin will be available for members of Sam’s Club starting in mid-July. It can be purchased for $73 per vial or around $86 for a pack of insulin pens. It was mentioned that Walmart previously sold $25 insulin, but doctors said the formulation is not effective in managing blood sugar, so it was upgraded and now coming to the retailer giant’s stores.
“This price point, we hope, will improve and hopefully revolutionize the accessibility and affordability of insulin,” Fox Business quoted Dr. Cheryl Pegus, Walmart’s executive vice president of health and wellness, as saying to the media in an interview. “We know that many people with diabetes struggle to manage this chronic condition because of its financial burden.”
Walmart’s ReliOn brand will release the FlexPen and insulin injection made by Novo Nordisk this week. Customers can purchase them from the retailer's pharmacy stores in the U.S.
Meanwhile, this is expected to help millions of people suffering from diabetes. It was reported that more than 34 million American citizens have diabetes and one in every four people are not aware that they have it, according to the Centers for Disease Control and Prevention (CDC).
