ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

Walmart launches a low-cost insulin analog in the US

Share On Facebook
share on Linkedin
Print

Last week, Walmart, the largest supermarket chain in the United States, announced its plans to launch a budget version of insulin. This way, the company is trying to provide the vitally important drug to the millions of Americans who do not have health insurance or cannot afford current prices.

Over the last decade, the cost of insulin has dramatically increased. One of the main reasons could be contributed to the fact that local pharmaceutical companies have every right to set and increase prices without any restrictions. Besides that, there are not so many competitors in the US insulin market.

Currently, the top insulin producers in the United States are Eli Lilly (23% world market share), Sanofi (17% world market share), and Novo Nordisk (52% world market share). Together they control more than 90% of the global insulin market. The remaining share of the global insulin market is divided between approximately seven insulin manufacturers.

A study by the RAND Corporation suggests that the average price per standard unit of insulin in the United States is $98.70, compared to $12 in Canada. In France, Great Britain, Australia, it is even lower, less than $10, and in Turkey, less than $3. It should be mentioned that even though the United States represents only 15 percent of the global insulin market, the country accounts for almost 50 percent of revenues related to diabetes drugs.

It is worth mentioning that according to the 2020 National Statistics Report, about 34.2 million people in the United States have diabetes. Broadly speaking, this is 10.5% of the US population. As type 2 diabetes cases in the country continue to rise, the insulin market is likely to grow in the coming years.

Howbeit, the question should be asked – when did the wholesale and retail chain become a pharmaceutical company? In reality, Walmart will only sell an exclusive version of ReliOn NovoLog analog insulin under its own brand for adults and children. The drug will be available at Sam’s Club in mid-July. The cost will be approximate $86 for a pack of insulin pens.

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com