CNBC: “Walmart said Tuesday it will offer a less expensive version of insulin that could better fit into the budgets of millions of Americans who don’t have health insurance or struggle to pay for the lifesaving diabetes drug. Starting this week, the retailer will sell an exclusive private-label version of analog insulin, ReliOn NovoLog, to adults and children who have a prescription. The drug will be available at its membership-based Sam’s Club in mid-July. The insulin will cost about $73 for a vial or about $86 for a package of prefilled insulin pens. The insulin is the latest addition to Walmart’s private brand of diabetes products, ReliOn. It already sells a low-price version of insulin for about $25 as part of the line, but that is an older formulation that some doctors and advocates say is not as effective at managing blood sugar swings as newer versions of insulin, called analogs.”

“With the move, Walmart will bring its longtime focus on ‘everyday low price’ to a drug that is a medical necessity for a growing number of Americans. More than 34 million people in the U.S. – or nearly 11% of the population – have diabetes, and about 1.5 million Americans are diagnosed every year, according to the American Diabetes Association. That percentage is about 14% among Walmart shoppers, said Warren Moore, Walmart’s vice president of health and wellness, on a call. As the number of people with diabetes climbs, the cost of the 100-year-old drug has soared rather than fallen and drawn scrutiny from lawmakers. The annual cost of insulin for people with Type 1 diabetes in the U.S. nearly doubled from $2,900 in 2012 to $5,700 in 2016, according to the most recent data available from the Health Care Cost Institute. Some of the top manufacturers of insulin, including Sanofi and Eli Lilly, have been grilled by politicians during congressional hearings for hiking prices of the critical drug. In some cases, the companies have responded to criticism by rolling out limited, reduced price programs.”