Walmart launches private brand insulin for diabetes patients

Why it matters: Diabetes is an expensive and prevalent disease.

• People with diabetes incur about $9,600 a year on diabetes-related medical expenses, according to the American Association of Diabetes.
• 34.2 million people in the U.S., or 10% of the population, have diabetes, according to the CDC.
• In Arkansas, nearly 15% of the state's population has diabetes.

What they're saying: The new products will save customers 58% to 75%, according to Walmart. These numbers are based on costs before insurance.

Details: A prescription is required. The products will be available at Walmart pharmacies this week and at Sam's Club in mid-July.