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Wal-Mart to Sell Generic Drugs for $4

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Wal-Mart announced today that it will start a test program in Florida, where it will sell generic prescription drugs for $4 for a 30-day supply. The test will start tomorrow in 65 Tampa Bay-area stores and is to expand to the whole state by January.

In a statement, CEO Lee Scott says the world's largest retailer intends to "take the program to as many states as possible next year."

On average, generic drugs tend to cost between $10 and $30 for a month-long supply.

The world's biggest retailer said that it will test the program in Florida that will make 291 generic drugs available, which are used to treat a variety of condition from allergies to high-blood pressure. It will also be available to the uninsured.

http://apnews.myway.com/article/20060921/D8K9A7TO7.html

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I don't understand how they can help drugmakers be that much more efficient, given where prices are right now.

FWIW:

In a conference call with reporters, Simon* said that the generic drugs would not be sold at a loss to entice customers into the stores, a strategy that has been used in Wal-Mart's toy business.

He said Wal-Mart is working with drugmakers to help them be more efficient, but added, "We are working with them as partners. We are not pressuring them to reduce prices."

Source: http://biz.yahoo.com/ap/060921/wal_mart_health_care.html

*Bill Simon is executive vice president of the company's professional services division

Edited by Gupt

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I don't understand how they can help drugmakers be that much more efficient, given where prices are right now.

FWIW:

In a conference call with reporters, Simon* said that the generic drugs would not be sold at a loss to entice customers into the stores, a strategy that has been used in Wal-Mart's toy business.

He said Wal-Mart is working with drugmakers to help them be more efficient, but added, "We are working with them as partners. We are not pressuring them to reduce prices."

Source: http://biz.yahoo.com/ap/060921/wal_mart_health_care.html

*Bill Simon is executive vice president of the company's professional services division

Either he is lieing (again) about pressuring to drop prices (WM is fantastic at this being largest retailer), or they are importing generic drugs made in other countries where they are phenominally cheaper than here. but since uncle sugar has strict laws on that... but then, since when has law abiding and ethical ever made WM money?

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Mirrorgate, I suspect the price for insurance-copays are due partly to volume and partly to "taking cuts".

Wal-mart has always bought directly enmasse from the manufacturer, and then adds its own cut to the price it pays (which I would not call "gouging"). So gen-pharma makes its profits, and Wal-mart its share.

Anything wrong in that scenario?

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I didn't think Wal-Mart existed anymore. I heard all the Super Wal-Marts were putting them out of business

Your statement makes no sense whatsoever.

No successful company ever competed with itself.

I think he was being sarcastic ;)

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I think that's excellent...the biggest winner in this are those who have to struggle to make ends meet and stay healthy with the rx's they need.

I hate that show Extreme Home Makeover but I walked in while my sister was watching it one night and the person they were helping was only taking his pills every other day to make sure his children had a roof over their heads and food to eat. That's NOT RIGHT.

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I didn't think Wal-Mart existed anymore. I heard all the Super Wal-Marts were putting them out of business

Your statement makes no sense whatsoever.

No successful company ever competed with itself.

I think he was being sarcastic ;)

Thanks; I thought the absurdity of the statement made it clear that it was not to be taken seriously

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How many think that when walmart has managed to drive every other market out of business they are going to keep selling at these prices. Also can anyone tell me the longest something has lasted that they bought at walmart.

I didn't stop buying from there because I hate them I stopped because things bought from wall mart have to be replaced in a year. They want you to have a life time subscription to walmart they are not looking out for the consumer.

JMO though.

Paul

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How many think that when walmart has managed to drive every other market out of business they are going to keep selling at these prices. Also can anyone tell me the longest something has lasted that they bought at walmart.

I didn't stop buying from there because I hate them I stopped because things bought from wall mart have to be replaced in a year. They want you to have a life time subscription to walmart they are not looking out for the consumer.

JMO though.

Paul

I have had products bought at Wal-Mart that lasted over 3 years--ALL of them sawdust-furniture items (bookshelves, computer desks, chest-of-drawers, etc).

Admittedly, when I bought one other piece of furniture there (a metal-frame futon bed), it DIDN't last (bought 2006-04-18, already kaput).

For any other "longterm" items (clothing, electronics, etc), Wal-Mart wasn't even on the list anytime.

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