By Sara Powers

(CBS DETROIT) – Walmart plans to offer its own cheaper option for insulin.

The retail giant says it will sell its own private label insulin with the price being 75% below the cost of competing products.

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A vial will cost about $73, and a pre-filled insulin pen will go for about $86.

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Insulin vials currently cost more than $300 in some places, making it tough to afford for diabetic patients.

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