Reportedly, Walmart Stores, Inc. (WMT) has launched its private-label analog insulin at a huge discount to branded insulin vials and pens, driving growth in its healthcare business. The product, ReliOn NovoLog, is rapid-acting analog insulin used to control high blood sugar in adults and children with diabetes. Analog insulin is more effective and easier to administer than older, human insulin. The drug will require a prescription from a physician.
The retailer informed that more than 3 million customers with diabetes could save between 58% and 75% off the cash price of branded analog insulin products, or up to $101 per branded vial or $251 per package of branded FlexPen. Patients, consumer advocates, and U.S. lawmakers have complained about the high list prices for insulin for years and the significant out-of-pocket costs borne by patients. Walmart which is working with Novo Nordisk, a pharmaceutical company, also informed that its products were meant for use for both type 1 and type 2 diabetes. The retailer has for years has lowered consumer prices for generic drugs, undercutting branded products sold by other retailers.
More than two decades ago, Walmart had launched a human insulin private label brand, ReliOn that costs $24.99 a vial.
Walmart Stores, Inc. (WMT) is a worldwide retailer that operates in various formats. The three segments of the company include Walmart U.S., Walmart International, and Sam’s Club. The company is comprised of discount stores, supermarkets, supercenters, hypermarkets, warehouse clubs, cash and carry stores, home improvement stores, specialty electronics stores, apparel stores, drug stores, convenience stores, and membership-only warehouse clubs; and retail Websites. To learn more about Walmart (WMT) and to continue to track its progress please visit the Vista Partners Walmart Coverage Page.
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