Walmart said Tuesday (June 29) it will sell a private-brand version of insulin, ReliOn NovoLog, to adults and children who have a prescription. The private-brand insulin is manufactured by Novo Nordisk and will be sold only at Walmart and Sam’s Club.
The insulin cost will be about $73 for a vial or $86 for a package of pre-filled insulin pens, according to the release. The retail giant said the savings this private brand drug will provide diabetic customers ranges from 58% to 75% the price of branded insulin products. This move comes as the annual cost of insulin with Type 1 diabetes doubled from $2,900 in 2012 to nearly $6,000 by 2016, according to the most recent data from the Health Care Cost Institute.
“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.
Tracey Brown, CEO of the American Diabetes Association, said the estimated cost for managing diabetes is around $9,601 per person per year.
“We welcome all affordable solutions that make diabetes management more accessible to millions of Americans living with diabetes. We encourage everyone to ask their health care provider questions to better understand what the right and affordable treatment is for their unique medical needs,” Brown said.