Walmart is launching its first-ever private label insulin analog, which will be made available exclusively at its stores.
The retail giant worked directly with manufacturer Novo Nordisk on ReliOn Novolog, allowing it to offer the product in both vials and FlexPens at a far lower price, Cheryl Pegus, M.D., executive vice president of Walmart Health and Wellness, said in a briefing with reporters.
The vials will retail for $72.88 and the FlexPens for $85.88, which will save consumers between 58% and 75% off of the cash price for other insulin products, Walmart said in an announcement. That equates to savings of up to $101 per branded vial and $251 per package of branded FlexPens.
"We know that many people with diabetes struggle to manage this chronic condition," Pegus said.
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The product is available this week in Walmart pharmacies and will be available in Sam's Club pharmacies in mid-July, according to the announcement. Walmart's ReliOn portfolio also includes other diabetes management tools, including glucose monitors and lancets.
Pegus said patients who are interested in switching to the drug will require a prescription.
Warren Moore, vice president of Walmart Neighborhood Market Pharmacy operations, said during the press call that due to the retailer's significant scope, some 13% of its customers have diabetes.
In addition, 90% of the U.S. population lives within 10 miles of a Walmart store, Moore said.
"We have a history of pioneering solutions to increase affordable, accessible healthcare for all of our customers," Moore said.
Earlier this month, Walmart launched a drug discount offering for its membership program, Walmart+. Through the program, members can access thousands of drugs at $0 or up to 85% off.
Walmart pharmacies have also offered a number of generic drugs for $4.