“The goal as a company is to have customer service that is not just the best, but legendary”- Sam Walton, founder of Walmart. This company always provides products and services at the most reasonable price. They have everything under one umbrella. But there was a problem with the price of the lifesaving diabetes drug insulin.
Almost 11% of the whole population of America has diabetes. According to the American Diabetes Association, 1.5 million patients are being added to this percentage. 14% of total diabetes patients are Walmart shoppers. So this organization has decided to provide this medicine at an inexpensive price. Because 34 million people individually pay $5700 dollar per year to buy insulin for type 1 diabetes. Not necessarily each and everybody has the ability or health insurance for buying it.
Walmart is going to offer an exclusive private-label version of analog insulin at a reasonable price. From the middle of this month, ReliOn NovoLog (an exclusive and rapid-acting insulin analog) will be provided to the young and adults who have a prescription and the members of Sam’s Club as well. If they buy it in small quantities the price will be $73 and for a package $87. Where others are claiming $101 for a single and $251 for the package. Its previous version was only $25 but doctors do not recommend it anymore as it is less effective to control blood sugar.
ReliOn is Walmart’s private diabetes products brand. So constant everyday low pricing(EDLP) will not be that difficult for them. It is an irony of fate that a 100-year-old medicine’s price is tremendously increasing day by day. From 2012 to 2016 people suffering from diabetes, had endured the double rise of paying for insulin annually. The number turned into $5700 from $2900 according to the Health Care Cost Institute of America.
Though top manufacturing companies like Sanofi and Eli Lilly tried to reduce the soaring price of insulin but failed. Walmart is hopeful to maintain this low price by understanding the pain of diabetes patients. Even they plan to reduce the price if possible. Walmart has always been a help for medical services. We think it will continue to provide premium services to relieve the pain of sufferers.
Sayma Akter Santa
Intern, Content Writing Department
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