September 21, 2006

NOTHING COSTS MORE THAN IT USED TO (via Tom Morin):

Wal-Mart to Sell Generic Drugs for $4 (ANNE D'INNOCENZIO, 9/21/06, AP)

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 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.

Wal-Mart officials said the reduced price represents a savings to the customer of up to 70 percent on some drugs.


Wal-Mart to Offer $4 Generic Prescriptions (MICHAEL BARBARO, 9/21/06, NY Times)
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.

Not if Democrats can stop them!

Posted by Orrin Judd at September 21, 2006 12:09 PM
Comments

I am surprised the Democrats haven't jumped on Wal-Mart's elimination of layaway payment options as of this November, since (judging by the reaction by some around town) this is a move that actually has ticked off some lower and lower-middle income people who've done their Christmas shopping in the past on layaway. But other than a grumble from some union rep, I haven't heard a sound out of the company's normal opponents since the policy was announced early last week, as they're too busy with important things such as blocking Wal-Mart's entry into New York or Chicago and trying to mandate health care benefit levels in Maryland.

Posted by: John at September 21, 2006 12:34 PM

The scoundrels are giving those not eligible for the Medicare Part D drug plan the same savings as we old geezers are getting. Good for them.

Private enterprise rules! You can bet on it. Works first time and every time.

I can't wait for the first Democrat to rail against it.

Posted by: erp at September 21, 2006 1:06 PM

"Walgreen Co.'s (WAG.N: Quote) shares were down 6 percent to $46.98 while CVS Corp. (CVS.N: Quote) plunged 10 percent to $31.80" 2 hrs ago

Obviously these companies need to seek govt. protection immediately.....it's for the children of course.

Posted by: h-man at September 21, 2006 1:27 PM

It is, my daughter owns a few shares of WAG.

Gotta pay for some of college.

Posted by: Sandy P at September 21, 2006 1:34 PM

I wonder if Lou smells an economic sin.

Posted by: Peter B at September 21, 2006 3:25 PM

Peter B:

It's a new development in Just Price theory. Just $4 a bottle!

Posted by: Matt Murphy at September 21, 2006 7:23 PM

No economic sin here. No lying and cheating. Nothing like impersonating a citizen to receive benefits or failing to pay taxes.

Posted by: Lou Gots at September 22, 2006 12:16 AM

to impersonate a citizen is to be one.

Posted by: oj at September 22, 2006 12:27 AM

Lou:

Selling under cost with the express intention of driving out smaller competition that can't carry such losses--competition with families that pays fair wages, taxes, etc.? How about tying up suppliers with such large orders that they organize their whole business around it and then mau-mauing them to sell out control to you by threatening to drop you?

On your knees, Sam Walton!

Posted by: Peter B at September 22, 2006 4:33 AM

Sorry, that should be threatening to drop them.

Posted by: Peter B at September 22, 2006 4:35 AM

Our local liberal rag only mentioned this boon to the poor, who now will be able to eat and buy their meds, on its business page. One might think it not a good idea to help those less fortunate.

I wonder how this will affect the HMO's which make a nice profit on the meds they supply their wretched victims.

Posted by: erp at September 22, 2006 12:05 PM
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