Walmart, Novo Nordisk partnering on new private label insulin brand
The move is intended to lower medication costs for diabetes patients, and is the latest move by the retailer to establish a healthcare presence.
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Retail juggernaut Walmart is teaming up with Novo Nordisk to manufacture a new private-label insulin analog, which will be sold in stores. It is intended to lower the cost of medication for diabetes patients, who often struggle to afford insulin.
The analog will be offered in vials for $72.88 and FlexPens for $85.88, which Walmart said is about 58-75% cheaper than other insulin products, adding up to savings of about $101 and $251, respectively.
Dubbed ReliOn NovoLog, it's a rapid-acting insulin analog used to control high blood sugar in adults and children with diabetes. Customers will need a prescription in order to purchase the products, and the retail giant recommended consulting with a doctor regarding their diabetes management.
Walmart will begin carrying the product this week and it will debut in Sam's Club pharmacies later this summer, adding to other diabetes management tools under the ReliOn umbrella, which include lancets and glucose monitors.
WHAT'S THE IMPACT?
The move is the latest by Walmart to establish a more robust presence in the healthcare space. In February, it was able to accept and administer federally allocated COVID-19 vaccines through the U.S. Federal Retail Pharmacy Program, with vaccine allocations sent to Walmart and Sam's Club locations in 22 states.
Eligible individuals in those states are able to schedule a vaccination appointment directly through Walmart or Sam's Club via an online scheduling tool. In addition to appointments, the scheduler provides a digital reminder when it's time to return for the second dose.
What's more, Walmart Health plans to expand its services to operate 22 facilities by the end of 2021, according to a 2020 blog post written by Lori Flees, SVP and chief operating officer of Walmart U.S. Health and Wellness.
It expects to open seven new locations in Georgia by the end of the fiscal year and two more in the Chicago area this fall. Seven locations are expected to be built in Jacksonville, Florida, with at least one set to open in early 2021, Flees said. The company has also begun the process of expanding into the Orlando and Tampa markets.
Walmart Health clinics offer primary and urgent care, counseling, dental, optometry and hearing services to those with or without insurance.
The first of these Walmart Health locations opened in Dallas, Georgia, in 2019, along with an online appointment booking platform. More recently, Walmart expanded its digital health foothold by acquiring CareZone's tech platform.
THE LARGER TREND
Walmart isn't the only organization targeting diabetes. In April, Blue Shield of California said it was enhancing its Wellvolution program by adding two new services that provide personalized care and nutrition support for members living with or at risk for Type 2 diabetes.
Wellvolution is a digital lifestyle medicine and health platform that can be personalized to each member's individual health needs and preferences. The platform, including these expanded programs, is available to plan members at no additional cost.
The new services include a digital health tool that enables members to engage in shared decision-making with their care team, and a fresh-food delivery service for eligible members.
Meanwhile, an outcomes-based agreement between Highmark and Boehringer Ingelheim has resulted in a total cost of care reduction of more than 20% for adult patients with Type 2 diabetes and known cardiovascular disease, the companies announced in December 2020.
The agreement, which launched in 2018, was designed to evaluate the costs of care over a one-year period for patients who took the medication Jardiance compared to those who were prescribed other branded or generic anti-hyperglycemic medications.
For medical costs alone, patients on Jardiance demonstrated a cost reduction of more than 30%, according to Highmark. When factoring in both medical and pharmacy costs, the cost of care was reduced by more than 20% for patients on Jardiance.
Twitter: @JELagasse
Email the writer: jeff.lagasse@himssmedia.com
