WalMart Slashes Generic Prescription Prices
WalMart's bouncing smiley face just danced up and down on top of your local CVS. Once the roof caved, he moved over to Walgreens, where the body count is pending. RiteAid is next. Cower in fear.
The dancing smiley orb of cost savings and senior citizen labor exploitation shook up the pharmaceutical industry today with its announcement that that it would sell some generic drugs for as little as $4 for a month's supply. The test market is in the Tampa area, but will soon spread to the rest of Florida, and will cover the country like measles next year.
Sounds like a hardball first move in the prescription market. Hopefully other companies will follow suit, and we'll see some price breaks. Especially from those companies that will actually dispense the drugs your doctor prescribes.
Wal-Mart to cut prices for generic drugs [Yahoo! / AP]
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Comments:
This isn't necessarily good - it's the same crap that people already hate WalMart for. They sell a few items at, or below, cost, and drive the local stores out of business. And even if they're getting a break on the cost so that they're making a profit on these, that means that the drug company is having to slice their prices, for the right to sell to WalMart. While lower wholesale prices might sound like a good thing, these are the generic companies - who already try to undercut the big pharma companies - and if they go out of business, or have to lower their standards to meet WalMart's requirements, then we all lose.
K
Ugh, this is terrifying. Walmart brings its questionable pricing tactics to drug companies, also known for their questionable pricing tactics. This is going to get REALLY ugly.
Just another reason that I will never go to another Walmart at will. If there's anything I hate more than the crowd at Walmart, it's the crowd in a pharmacy line. I can't imagine them combined. The cigarette moms with hacking kids, the confrontational seniors grumbling because their 12 scripts can't be filled in 30 minutes... (This is Florida, after all, unfortunately I live in Tampa Bay)
I can just imagine Walmart's strategy here: Now you have to shop here. Always. It's the only place you can afford the medications you need to live! (incomprehensible cackling)
Target is matching this offer:
http://www.cbsnews.com/stories/2006/09/22/business/main203...
Great observations, all!
I really don't see this as a bad thing. I despise Wal-Mart and will never under any circumstances shop there. But I must acknowledge that where Wal-Mart goes the rest of any given industry has to follow. This means that Walgreens and CVS and Rite-Aid are even now being forced to make plans to counter Wal-Mart. Prices everywhere will drop, not just at Wal-Mart. Wal-Mart vs. Big Pharma....this is going to be great! I can hardly wait to see what happens when they take on the banking industry....
Drug companies know the need for medications and prices have consistantly risen. People WILL continue to get sick despite new advances in science and technology. I work in the medical industry and find that Wal-Mart has good intentions for the people. Making medications affordable is NOT to make things harder. Rather, to force the issue that everyone already knows regarding the need to control cost. Don't get me wrong, it is at Wal-Marts direct financial advantage as well. People complain about worker benefits...ya know nobody is telling these people to stay. Wal-Mart is upfront with all they have to offer, take it or leave it. You can benefit from price drops or continue to spend more than you need to. I speak for many people, I am not made of money and any savings is simply appreciated. QUIT COMPLAINING!!!!
Savnone is quite correct! If you don't want to shop at WalMart, go somewhere else! Stop whining! As a one-time former employee at WalMart, I know what their benefits and wages are like. But I chose to work there temporarily, no one forced me. It gave me time to take stock of my life and get back on my feet. I would not work there again willingly, but I continue to shop at WalMart and though I make a good living now, I like saving money as much as the next person. Here is hoping that the other marketers will follow suit after WalMart.








Great. $4.88 penicillin. That'll be safe.