Walmart to launch its own low-price brand of insulin

Walmart announced Tuesday it will start selling private-label insulin this summer at a much lower price for the lifesaving diabetes drug than branded varieties in vials and pens.

The new brand, called ReliOn NovoLog, includes analog insulin vials for $72.88 and $85.88 for a package of prefilled insulin pens. Walmart says its lower-priced brand will translate into savings of 58 percent and 75 percent, respectively, compared with the current cash price of branded insulin products when bought without insurance.