Kiss generic drugs goodbye

Submitted by Prometheus 6 on October 26, 2006 - 12:13pm.
on |

If medicine remains the rapaciously capitalist entity it is today, the end result of this will be the absolute lack of a profitable post-patent expiration market for drugs.

Wal-Mart adds 12 states to $4 generic drug plan; total now 27
Updated 10/26/2006 9:39 AM ET

LITTLE ROCK (AP) — Wal-Mart (WMT), the world's biggest retailer, said Thursday that it is extending its $4 generic prescription drug plan to 12 more states, bringing the total to 27 states.

States added Thursday are: Alabama, Georgia, Iowa, Kansas, Maryland, Michigan, Mississippi, Missouri, New Hampshire, Ohio, South Dakota and Virginia.

LIST OF DRUGS: Generics for $4 (pdf file).

The move brings 1,008 more stores into the program, under which Wal-Mart charges $4 for a one-month supply of 143 drugs in a variety of dosages and solid or liquid forms.

Wal-Mart rolled out the program in Florida three weeks ago and last week added 14 states to the list. The low-priced drugs are now available in 2,507 Wal-Mart, Sam's Club and Neighborhood Market stores.

The company said in a news release that it accelerated the launch of the low-price prescriptions because of customer demand.

Analysts say the program will help Wal-Mart by bringing in customers who will shop in other store departments, and it will extend Wal-Mart's reach in the drugstore business.

Union-backed Wal-Mart critics have accused the company of using the low-price drugs to divert attention from its own employee health insurance plan, which anti-Wal-Mart groups say does not offer adequate coverage.

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