Harald,
I heard on the news that Target is also going to do that.
jan
"Harald Weiss, Technical Marketing Group" <hweiss@...
Dear Group,
The news item below appeared today, 9/21/06. No list yet of the 291
(out 1,800) generic drugs that will be available at Wall-Mart for as
low as $4 for one-month supply.
Sincerely, Harald
Generic drugs getting cheaper at Wal-Mart
No. 1 retailer launches program selling nearly 300 common medicines
for as low as $4.
By Parija B. Kavilanz, CNNMoney.com staff writer
September 21 2006: 2:22 PM EDT
NEW YORK (CNNMoney) -- Wal-Mart announced Thursday a pilot program in
Florida to sell about 300 generic prescription drugs for as low as $4
for a 30-day supply.
The program will be available to both insured and uninsured
consumers, and will cover 291 generic medicines for things like
allergies, high cholesterol, high blood pressure and diabetes.
Some antibiotics, antidepressants, antipsychotics and prescription
vitamins are also covered under the new plan, the world's largest
retailer said.
The company said it would soon run radio and newspapers ads listing
drugs included in the program.
The program, due to start Friday, will be available to customers and
employees at 65 Wal-Mart stores, Wal-Mart neighborhood market stores
and Sam's Club pharmacies in the Tampa Bay, Fla., area. The company
hopes to expand the program to its 3,900 pharmacies nationwide in January 2007.
In a conference call with reporters, Bill Simon, an executive vice
president in Wal-Mart's pharmacy business, estimated that saving to
customers would range from 16 to 67 percent.
For example, he said, buying a 30-day supply of the diabetes drug
Metformin for $4 is nearly 50 percent less than the cost of the brand
name version of the drug.
And a 30-day supply of a brand name blood-pressure drug that
typically costs $12 would save customers $96 a year if they buy the
generic, Lisinopril, for $4, he said. Once the 30 days are up, Simon
said customers can renew the plan for another 30 days for as long as
they need the prescription.
The $4 pricing will be available to all pharmacy customers with a
doctor's prescription that can be filled with a covered generic medicine.
For customers with a $10 prescription drug copay on their medical
coverage, Wal-Mart will only charge the $4, Simon said.
He declined to say if the program would help boost Wal-Mart's share
of the nation's highly competitive pharmacy business. The retailer
does not disclose those numbers.
But he did reveal that the company was in talks to partner with 30
generic drugmakers ahead of an expanded rollout. Simon said Wal-Mart
planned to keep prices for these products low by leveraging the
retailer's size. And it plans to boost pharmacy staffing as it rolls
out the program.
"This move is possibly the most forceful supply chain move by
Wal-Mart in years, since their final retail pricing for many generics
will beat the market prices at other pharmacy counters," Richard
Hastings, senior retail analyst with Bernard Sands, wrote in a note Thursday.
Hastings said that while big drugstore chains, Walgreen, CVS and Rite
Aid will probably respond to Wal-Mart's move, smaller prescription
drug buyers, like supermarket chains that offer pharmacy services,
could see profits from medicines come under pressure.
On Wall Street, investors were betting that Wal-Mart's new plan would
hurt other drugstore chains. Shares of Walgreen (down $3.48 to
$46.47), CVS and Rite Aid all tumbled following Wal-Mart's announcement.
Wal-Mart shares edged lower on the New York Stock Exchange.
"From an earnings perspective, this should be a neutral event for
Wal-Mart," Hastings said. "It could improve customer loyalty and
shopper traffic over the long term. The key for Wal-Mart is to get
customers in, and keep them shopping in other departments. We'll wait
and see if this works, but it will take up to two years to know if
this has helped."
Wal-Mart (Charts), which has been the target of critics who complain
that its health insurance is out of reach for many of its 1.3 million
U.S. employees, has in the past year introduced several programs to
improve its benefits for workers.
In April, the company extended insurance coverage to the children of
part-time workers and started a benefit plan with monthly premiums as
low as $11.
Wal-Mart said the program will help alleviate a major challenge for
seniors who have fallen into the "doughnut hole" coverage gap in
their Medicare Part D prescription drug plans and now find themselves
responsible for paying 100 percent of their prescription medicine costs.
At least one public interest group called Wal-Mart's drug pricing
initiative a "step in the right direction."
"These lower prices will give consumers a break from the outrageous
cost of healthcare in this country," said Emily Clayton, healthcare
advocate with the California Public Interest Research Group (CALPIRG).
"Obviously this plan is only part of the bigger healthcare problem.
In order to get the drugs at whatever the price, people first have to
go to the doctor to get the prescription. This is the biggest cost of
the system, especially for the uninsured," Clayton said.
To unsubscribe, email: rheumatic-unsubscribe@egroups.com