Morning Briefing
Summaries of health policy coverage from major news organizations
Walmart Launches Own Line Of Insulin
USA Today: Walmart Launching Its Own Low-Cost Insulin For Diabetes Patients
Walmart will launch its own brand of insulin, which the retailing giant says will "revolutionize the access and affordability" of diabetes treatments. In a statement Tuesday, Walmart said it will offer analog insulin vials and FlexPens for administering doses through its ReliOn brand. The retailer claims its insulin options will save customers between 58% to 75% compared to branded products. "We know many people with diabetes struggle to manage the financial burden of this condition, and we are focused on helping by providing affordable solutions," said Dr. Cheryl Pegus, executive vice president, Walmart Health & Wellness, in a statement. (Molina, 6/29)
CBS News: Walmart To Launch Its Own Line Of Insulin, Claiming It Will Cut Costs
Walmart on Tuesday said it will start selling its own private brand of analog insulin with prices that are up to 75% below the cost of competing products. Insulin prices have escalated for years, making them unaffordable for some people with diabetes. Walmart said the private-brand insulin will cost $72.88 per vial and $85.88 per FlexPen, which the retailer said reflects prices that are between 58% to 75% lower than other insulin products on the market. That will save patients $101 per branded vial and $251 per package of branded FlexPens, according to Walmart. (Picchi, 6/29)
Stat: Walmart's Plan To Sell Another Private Label Insulin Is Met With Skepticism
Amid a national outcry over the cost of insulin, Walmart (WMT) plans to sell a private-label version up to 75% off the cash price of brand-name analog insulins in a bid to “improve access and lower the cost of care.” But the move was met with a mix of derision and skepticism. (Silverman, 6/29)
Modern Healthcare: What Walmart's Lower-Priced Insulin Means For The Market
Walmart's launch of its own brand of analog insulin could have big pricing implications for a market that has been under fire in recent years by critics for the rising costs of their drugs. (Johnson, 6/29)
CNBC: Eli Lilly CEO says drugmaker will keep looking for ways to cut insulin costs as Walmart debuts lower-price rival
Eli Lilly CEO David Ricks said he welcomes new competition from Walmart, even as the retailer undercuts the drugmaker’s prices on fast-acting insulin. Walmart announced Tuesday that it will sell a lower-price version of the notoriously expensive diabetes drug, starting this week. “Any efforts to smash through that and deliver better value to patients, I’m for,” Ricks said in an interview on CNBC’s “Squawk on the Street” on Tuesday. (Repko, 6/29)
And in news about the new Alzheimer's drug —
Stat: Will Biogen's Alzheimer’s Drug's Cost To Medicare Be Big Or Catastrophic?
The Food and Drug Administration’s decision to grant wide-ranging approval to the controversial, pricey new Alzheimer’s drug Aduhelm will have an eye-popping impact on Medicare finances. The question is exactly how big the impact will be. Estimates of how many seniors on Medicare will actually take Aduhelm, which has a list price of $56,000, vary wildly. Some experts have guessed at relatively low patient interest, around 500,000 people. Biogen, the company behind the drug, has put its target population far higher, around 1 million to 2 million people. (Cohrs and Parker, 6/28)
FiercePharma: Biogen's $56K Alzheimer's Drug Is Rounding Up Bipartisan Drug Pricing Critics In Washington
Biogen’s Alzheimer’s disease drug Aduhelm could end up costing Medicare more than all other Part B drugs combined, some estimates figure. Now, influential senators are joining the growing chorus of congressional critics asking Washington to evaluate its options. In a letter to the Senate Finance Committee on Wednesday, Sens. Elizabeth Warren, D-Massachusetts, and Bill Cassidy, R-Louisiana, called for a hearing to “examine the vexing new questions and challenges” the newly FDA-approved Aduhelm poses to the Medicare program. (Higgins-Dunn, 6/25)
