Lilly partners with Wal-Mart

Eli Lilly has partnered with Wal-Mart, the country's largest retailer, to sell an affordable version of the pharma company's Humulin synthetic human insulin product for diabetes in nationwide Wal-Mart pharmacies. The deal represents the first time that Lilly has partnered with a retail pharmacy on a co-branded product.

The product, which will be available to consumers starting in mid-September, will be sold under the dual-branded name Humulin ReliOn.

Wal-Mart, which has more than 4,300 US stores, already offers a number of $9 diabetes management products under the ReliOn brand, including the ReliOn Ultima Blood Glucose Meter, ReliOn Ultima Blood Glucose Test Strips, and the ReliOn A1c test.

Lilly's Humulin generated worldwide sales of $1bn last year, but is being overshadowed by an even bigger moneymaker, the company's newer Humalog insulin, which brought in $2bn during the same period.