Wal-Mart to sell generic drugs for $4 By ANNE D'INNOCENZIO, AP Business Writer
27 minutes ago
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 — for only $4 per prescription for up to a 30-day supply. It will also be available to the uninsured.
The program will be launched on Friday at 65 Wal-Mart, Neighborhood Market and Sams' Club pharmacies in the Tampa Bay area in Florida and will be expanded to the entire state in January.
The company said it plans to take the program to as many states as possible next year.
"Each day in our pharmacies we see customers struggle with the cost of prescription drugs," said Wal-Mart CEO H. Lee Scott, Jr., in a statement. "By cutting the cost of many generics to $4, we are helping to ensure that our customers and associates get the medicines they need at a price they can afford."
The initiative would be the fourth time since last October that Wal-Mart has moved to improve health benefits.
Wal-Mart's recent moves to improve its health care plan include relaxing eligibility requirements for its part-time employees who want health insurance, and extending coverage for the first time to the children of those employees. Part-time employees, who had to work for Wal-Mart for two years to qualify, now have to work at the company for one year. This year, Wal-Mart also expanded a trial run of in-store clinics, aimed at providing lower cost non-emergency health care to the public.
Last October, Wal-Mart offered a new lower-premium insurance aimed at getting more of its work force on company plans.
But critics argue that Wal-Mart's coverage calls for a deductible that requires workers to pick up the first $1,000 in medical expenses, and the deductible rises to a maximum of $3,000 for families.
Union-backed Wake Up Wal-Mart, one of its most vociferous critics, have called upon Bentonville, Ark.-based Wal-Mart to offer better health care coverage and higher pay to employees.
Critics contend that the company's benefits are too stingy, forcing taxpayers to absorb more of the cost as the workers lacking coverage turn to state-funded health care programs.
This past summer, Wal-Mart won a successful fight against a first-of-its-kind state law that would have required the retailer to spend more on employee health care in Maryland. A federal judge ruled in July that it was invalid under federal law. But other states are considering similar legislation aimed at the company. |
