Evil Walmart strikes again v. Prescription drugs

[kinggovernor]

Wal-Mart Cuts Generic Prescription Medicines to $4
Wal-Mart Stores, Inc. (PRNewsFoto/Wal-Mart Stores, Inc.)



Nearly 300 Generics to Be Available in Tampa on Friday; Florida Statewide
By January; Company Aims to Take Nationwide

BENTONVILLE, Ark., Sept. 21 /PRNewswire-FirstCall/ -- As part of its
ongoing commitment to providing more affordable healthcare for America's
working families, Wal-Mart Stores, Inc. (NYSE: WMT) today announced that it
will make nearly 300 generic drugs available for only $4 per prescription
for up to a 30-day supply at commonly prescribed dosages. The program, to
be launched on Friday, will be available to customers and associates of the
65 Wal-Mart, Neighborhood Market and Sam's Club pharmacies in Tampa Bay,
Fla. area, and will be expanded to the entire state in January 2007.
"Each day in our pharmacies we see customers struggle with the cost of
prescription drugs," said Wal-Mart CEO H. Lee Scott, Jr. "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.
That's a real solution for our nation's working families."
Key components of the program include:

* The $4 pricing will be available to all pharmacy customers with a
prescription from a doctor that can be filled with a covered generic
medicine.
* This program will be available to the uninsured.
* Insurance will be accepted.
* The program presently covers 291 generic medications from many of the
most common therapeutic categories.
* The medicines represented are used to treat and manage conditions
including allergies, cholesterol, high blood pressure and diabetes.
Some antibiotics, antidepressants, antipsychotics and prescription
vitamins are also included.
* The program will be available statewide in Florida in January 2007.
* Wal-Mart intends to take the program to as many states as possible
next year.
"Competition and market forces have been absent from our healthcare
system, and that has hurt working families tremendously," Scott said. "We
are excited to take the lead in doing what we do best -- driving costs out
of the system -- and passing those savings to our customers and
associates."
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.
"This act of good corporate citizenship will help consumers manage
healthcare costs, while benefiting Florida's growing population," said
Florida Governor Jeb Bush. "In addition to providing a great service,
Wal-Mart is encouraging important conversations between patients and their
doctors about the cost savings associated with generic prescriptions. I am
pleased Wal-Mart chose Florida to launch this initiative where our large
population of seniors will greatly benefit."
"Fifty-bucks for a year's supply of prescription drugs is a pretty darn
good deal for consumers," said U.S. Senator Bill Nelson (D-FL), an
outspoken proponent of giving people access to lower-cost prescriptions.
"Because Wal- Mart has the ability to shape the market, maybe other
retailers will follow suit."
In addition, the program provides a solution for the nearly 2.7 million
uninsured Floridians who may also avoid filling prescriptions and remain
untreated. Wal-Mart estimates that the program will save the state's
Medicaid program hundreds of thousands of dollars annually.
In announcing the program, Bill Simon, executive vice president of the
Professional Services Division for Wal-Mart, noted that purchasing a 30-day
supply of the popular diabetes drug, Metformin, for $4 represents a nearly
50 percent savings from the cost of the brand name version of the drug. In
addition, purchasing a 30-day supply of the brand name blood-pressure drug
typically costs $12. Getting the generic, Lisinopril, for $4 saves
customers nearly $100 annually.
"These are medicines for diabetes, cardiovascular disease, asthma,
colds and infections -- the kinds of medicines that working families need
so they can treat illness, manage conditions and stay well," said Simon.
"Rising healthcare costs are eating up more and more of families' budgets,
so this program brings a lot of value to our customers, associates and
communities."
Generic medications contain the same active ingredients as their
"brand- name" counterparts and are equally effective, but cost
significantly less. Consumers interested in saving money on prescriptions
through the program should ask their doctor if a generic is available for
their prescription and is right for them. At this time, the $4
prescriptions are not available by mail order and are available on-line
only for in-person pickup in the Tampa Bay, Fla. area. Not all generics in
each therapeutic category are included.
For further information on the program, customers can call
1-800-WALMART or visit their Tampa area Wal-Mart, Neighborhood Market or
Sam's Club to discuss the program with their pharmacist or pick up a
brochure that explains program details.
About Wal-Mart
Wal-Mart Stores, Inc. operates Wal-Mart discount stores, supercenters,
Neighborhood Markets and SAM'S CLUB locations in the United States. The
company operates in Argentina, Brazil, Canada, China, Costa Rica, El
Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto
Rico, South Korea and the United Kingdom. The company's securities are
listed on the New York Stock Exchange and NYSE Arca, formerly the Pacific
Stock Exchange, under the symbol WMT.
More information about Wal-Mart can be found by visiting
Wal-Mart Facts - Get the facts and latest news about Wal-Mart from Wal-Mart. . Online merchandise sales are available at
Walmart.com - Always Low Prices! .
NOTE: Coverage of Wal-Mart's news conference and a b-roll package will
be available for broadcast media outlets beginning at 2 p.m. EDT today.
The satellite coordinates are: Galaxy 3C, Transponder C23
Journalists can also view and download the coverage of the news
conference and b-roll package at Wal-Mart Facts - Get the facts and latest news about Wal-Mart from Wal-Mart. .


SOURCE Wal-Mart Stores, Inc.

Wal-Mart Cuts Generic Prescription Medicines to $4

What a great American company bringing huge benefits that the government can't.

[6SpeedTA95]

Originally Posted by kinggovernor

Wal-Mart Cuts Generic Prescription Medicines to $4

What a great American company bringing huge benefits that the government can't.

Wal Mart has a great business model and you're right it does things that the government can't.

Bill Clinton was on this morning discussing how and why he thinks businesses can and do, do more good than government(s). It was pretty interesting.

[kinggovernor]

Originally Posted by 6SpeedTA95

Wal Mart has a great business model and you're right it does things that the government can't.

Bill Clinton was on this morning discussing how and why he thinks businesses can and do, do more good than government(s). It was pretty interesting.

Hillary Clinton used to be on the board at Walmart, and Walmart was a huge reason why Clinton become governor and then president

[6SpeedTA95]

Originally Posted by kinggovernor

Hillary Clinton used to be on the board at Walmart, and Walmart was a huge reason why Clinton become governor and then president

Their entire family are big democrat supporters...or were...not so much anymore.

[DosEquis]

Wow, now that they have made it cheaper maybe they can offer more employees health insurance.

[garbagemanlb]

Originally Posted by DosEquis

Wow, now that they have made it cheaper maybe they can offer more employees health insurance.

Nah. Gotta make maximum profit, even if that means screwing the workforce and forcing them to be on government healthcare paid for by the taxpayers.

[Stylerod]

Originally Posted by DosEquis

Wow, now that they have made it cheaper maybe they can offer more employees health insurance.

If they feel it's in their best interest. Most Walmart jobs are entry level positions. Work hard, get a good work habbit going and get good references and then get a better job.

Just because they are big doesn't mean they have to have Microsoft like payrolls and benefits. They are a retail store for Christs sakes.

[SpicyMcVoodoo]

How is this profitable for Walmart? Is the cost of every generic less than 4 dollars?

[WickedLou9]

Originally Posted by SpicyMcVoodoo

How is this profitable for Walmart? Is the cost of every generic less than 4 dollars?

Maybe if they can get the ever growing population of senior citizens into the store for thier generic drugs they will stay to buy other things?

I dunno thats all I can think of.

[Stylerod]

Originally Posted by WickedLou9

Maybe if they can get the ever growing population of senior citizens into the store for thier generic drugs they will stay to buy other things?

I dunno thats all I can think of.

Me too.

[6SpeedTA95]

Originally Posted by Stylerod

If they feel it's in their best interest. Most Walmart jobs are entry level positions. Work hard, get a good work habbit going and get good references and then get a better job.

Just because they are big doesn't mean they have to have Microsoft like payrolls and benefits. They are a retail store for Christs sakes.

Thats exactly right and its called a BENEFIT! If people dont like it or have better opportunities elsewhere wal mart isn't holding a gun to their head.

[Publius]

Originally Posted by WickedLou9

Maybe if they can get the ever growing population of senior citizens into the store for thier generic drugs they will stay to buy other things?

I dunno thats all I can think of.

That's how it is. They sell a few things at a loss, because they know by selling those things extra cheap they'll more than make up the revenue on other purchases in the store made by the new customers they gained by selling said product at a loss.

[Publius]

You people saying Walmart should give employees a huge benefits package are being idiotic. NO retail job gives benefits packages to cashiers, stockers, etc. that are worth a damn, because the job those people do doesn't warrant it. Hell, a lot of retail jobs don't even hire full time employees aside from management so that they don't have to give them benefits at all (like the bookstore I used to work at).

My Aunt is a manager at Walmart, and has damn good insurance. Walmart's in-store, full-time management teams get good benefits, but your greeters, stockers, cashiers, etc. do not... just like EVERY OTHER RETAIL JOB IN THE COUNTRY.

[WickedLou9]

Originally Posted by Publius

That's how it is. They sell a few things at a loss, because they know by selling those things extra cheap they'll more than make up the revenue on other purchases in the store made by the new customers they gained by selling said product at a loss.

yeah they will cut the price on generic laxatives but then they make depends adult diapers 100 dollars a box.





haha I made a funny.

[Publius]

Originally Posted by WickedLou9

yeah they will cut the price on generic laxatives but then they make depends adult diapers 100 dollars a box.





haha I made a funny.

[SpicyMcVoodoo]

Originally Posted by Publius

That's how it is. They sell a few things at a loss, because they know by selling those things extra cheap they'll more than make up the revenue on other purchases in the store made by the new customers they gained by selling said product at a loss.

Well if generics are just a loss leader for Walmart, is this really a good thing for us in the long run?

The only reason Walmart can afford to have prescription drugs as a loss leader is because it's such a huge giant. Will this not drive other pharmacies out of business? And then once Walmart has no more competition for pharmacies, they have no more incentive to use drugs as a loss leader...what shall they have as their next loss leader? Gasoline! Yes, and then after they drive all the gas stations out of business, they can return to normal gas prices and switch to another loss leader! Ad infinitum! And then Walmart will rule the word!

[WickedLou9]

Originally Posted by SpicyMcVoodoo

Well if generics are just a loss leader for Walmart, is this really a good thing for us in the long run?

The only reason Walmart can afford to have prescription drugs as a loss leader is because it's such a huge giant. Will this not drive other pharmacies out of business? And then once Walmart has no more competition for pharmacies, they have no more incentive to use drugs as a loss leader...what shall they have as their next loss leader? Gasoline! Yes, and then after they drive all the gas stations out of business, they can return to normal gas prices and switch to another loss leader! Ad infinitum! And then Walmart will rule the word!

Walmart, Microsoft, GE, and Exxon will be the only companies left on the planet.

Any and all consumer activity will take place at Walmart. Doctors, healthcare, food, etc. all of it. Microsoft will run the software technology side of everything. and GE will build and design pretty much everything else.

[SpicyMcVoodoo]

But seriously, assuming they're selling generics as a loss leader, doesn't anyone else find this disturbing?

Previous complaints against Walmart were that it was driving mom and pop businesses under because it would always win on price...you could always say, hey, too bad, this is capitalism, and they're doing things more efficiently, so Walmart wins, and we ultimately win...

But if they start driving businesses under by selling at a LOSS, who can compete with that? They're not even doing things better...they're just using their size to bully smaller businesses around. Where would this stop? Walmart could pick any industry it wants, designate it as a loss leader, and drive it out of business, and there's really nothing anyone could do.

[ballz2wallz]

Pure evil.