Amazon's Boon for Diabetes Patients - Streamlining Pharmacy Discounts

Amazon.Com Inc's AMZN online pharmacy launched a new initiative on Tuesday to streamline the process for diabetes patients seeking discounts on their medications. 

The program automatically applies manufacturer-sponsored coupons to over 15 insulin and diabetes drugs. 

Also Read: Amazon Introduces Affordable Healthcare Subscription Service For Uninsured Consumers

This move aims to ensure patients benefit from the discounts promised by pharmaceutical companies, Reuters reports.

Previously, patients had to manually search and input coupons from major insulin producers like Novo Nordisk A/S NVO, Eli Lilly And Co LLY, and Sanofi SNY. Now, with Amazon Pharmacy's automated system, the cost of insulin can be low as $35 for a month's supply.

Earlier this year, these three insulin manufacturers committed to cutting their insulin prices by a minimum of 70% by 2024. However, a recent report by Senator Elizabeth Warren highlighted the challenges patients face. 

Despite Eli Lilly's reduction of its Insulin Lispro's list price to $25 per vial, some patients reported charges of up to $330. The report also indicated that patients lacked information about more affordable alternatives at pharmacies and faced hurdles in accessing Lilly's savings program.

Vin Gupta, Chief Medical Officer at Amazon Pharmacy, emphasized the importance of transparency and simplifying the process for patients to obtain insulin at the most affordable rates. 

Additionally, Amazon Pharmacy will extend automatic discounts to diabetes-related devices, including glucose monitors and pumps from manufacturers like Dexcom and Insulet. 

Discounts will also apply to other cardiometabolic medications, including Novo's weight-loss drug, Wegovy.

Since its healthcare venture's inception in late 2020, Amazon has been actively trying to attract customers from traditional pharmacies like CVS Health Corp CVS and Walgreens Boots Alliance, Inc WBA. 

Price Action: AMZN shares traded lower by 1.88% at $137.93 on the last check Tuesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.