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Thursday, September 21, 2006
Wal-Mart To Make Low Cost -- $4 -- Generic Prescription Medications Available "Wal-mart, the nation’s largest retailer, said it would begin selling generic versions of widely prescribed drugs to its workers and customers at sharply reduced prices, a move that could force rival pharmacies to do the same. The giant discount chain, which has used its size to knock down the costs of toys, clothing and groceries, will sell 300 generic drugs for as low as $4 for a one-month supply. On average, generic drugs cost between $10 and $30 for a 30-day prescription." According to the Houston Chronicle: "The world's biggest retailer said Thursday that it will test the program in Florida and it will include 291 generic drugs available for conditions from allergies to high-blood pressure. The plan is available to its employees and customers, including those without insurance." While this news may bring a measure of comfort for those who struggle to pay for expensive medications, with many being forced to make tough choices between the medicine they need and other essentials, it is causing a wave of hurried stock dumping and some serious stress on other drug store chains throughout the nation. "It's a matter of sell and ask questions later," said Scott Vergin, a portfolio manager with Thrivent Financial in Minneapolis, as quoted by a Reuters report. "When Wal-Mart does something big, that takes the stocks down. People panic." Blogger News Network is advertiser-supported, and your visits to our advertisers help BNN to meet its expenses. Help keep us afloat! posted by Sharon Secor at 11:15 AM |
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