Friday, October 27, 2006
Wal-Mart cuts drug prices in Va.
The program that offers several generic prescription drugs for $4 a month is now in 12 states.
Carolyn Alls of Roanoke, who collects a disability check, was overjoyed to pay $4 for a prescription for her daughter Thursday.
She saved $16 because of Wal-Mart's lowering of prices on generic medicines in a new discount drug program.
"It's about time somebody helped us out," said Alls, explaining she meant "poor people" in general.
Wal-Mart expanded $4 pricing to 12 states including Virginia on Thursday. All 93 Virginia Wal-Mart and Sam's Club pharmacies are selling 314 generic medicines for $4 for a 30-day supply.
Among the listed drugs are some of the most commonly used medicines such as the pain reliever ibuprofen, the antidepressant fluoxetine, and the beta blocker atenolol, MarketWatch reported.
Generic equivalents virtually always cost less than brand-name drugs, but may still be priced at $10, $20 or even $90 for a month's supply. Wal-Mart's reduction will slash those prices to a flat $4. People with insurance will owe their regular copayment or $4, whichever is less. The price reduction is not a one-time offer but a new pricing policy that the company said will save government and private insurance programs money, too.
Another pharmaceutical retailer, Target, pledged Thursday to match Wal-Mart's reduced prices. Kmart reminded consumers that its pharmacies sell a 90-day supply of select generic drugs for $15. Walgreen Co. has said it will not match competitors' discounts.
The upshot for consumers was this: If you take a brand-name drug, you might save money if a generic equivalent exists. And, as always, it pays to price-shop and demand the lowest available price. It was unclear if Target customers will have to specifically mention Wal-Mart's $4 price to obtain that rate.
A gaggle of Wal-Mart officials threw a news conference Thursday in the pharmaceutical aisle of the Valley View store.
"We are applying our business strength to the health care system, driving out unnecessary costs and passing the savings on to our customers," said Mike Young, Wal-Mart's market manager for the Shenandoah Valley region.
Lonnie Talley of Roanoke, a technician at a steering system plant in Botetourt County, was waiting for new tires to be installed on his Jeep when he stopped and cocked an ear to listen to the speeches.
"For real?" Talley remarked.
But after checking with Wal-Mart representatives, he learned that the drug industry doesn't make generic equivalents of the medicines he takes for pulmonary fibrosis.
"It can help other struggling people," Talley said. "By me hearing that they're trying to find ways to lower the prices on drugs, that's a plus."
Jenifer Singleton of Roanoke, a property manager, predicted her out-of-pocket drug costs will drop from $100 to $8 monthly. Asked what she'll do with the savings, she said: "Maybe put some regular groceries in my refrigerator. I like fresh vegetables and I'm not getting fresh vegetables and fruits."
Wal-Mart officials explained how customers can save money.
To cite an extreme example, the anti-inflammatory drug Mobic costs $153.62, but the newly available generic form is about $90. Thursday, the price dropped to $4 at Wal-Mart.
On the other end of the spectrum, the generic blood-pressure compound Tenormin went from a regular price of about $5 to $4, a $1 savings.
Wal-Mart pharmacist Jimmy Blankenship said he estimates that the typical Valley View Wal-Mart pharmacy customer will save $12 to $15 per prescription.
"They're going to save a ton of money," Blankenship said. "This is no gimmick."
But Walgreen Co., announcing it had no plans to match the promotion, leveled various criticisms. It said the Wal-Mart list of $4 drugs covers only about 5 percent of all generic medicines available.
"Once consumers learn the fine print of Wal-Mart's program, they'll realize Walgreens offers the best value for pharmacy patients with its convenient locations, close-in parking and unique pharmacy services," said a statement on its Web site. For instance, some Walgreens pharmacies are open 24 hours; none of Wal-Mart's is in the Roanoke area.
Wal-Mart said its program met unexpected success, prompting a sooner-than-expected launch in select Eastern and Midwestern states. More will be added later, the company said.
In just the first 10 days of its launch in Florida, 90,000 new prescriptions were filled.
Shortly after 8 a.m. Thursday, Roanokers began saving money, too.




