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Senior Citizen Health & Medicine
Wal-Mart Speeds Up to Make $4 Generic Drugs
Available to all Florida Tomorrow
Accelerating spread of program and adding more
drugs to list
 October 5, 2006 – Wal-Mart today says it is
rolling out its $4-for-30-day supply generic prescription program
through out the state of Florida on Friday - nearly four months earlier
than the first announced rolled out statewide in January 2007. The
company is also expanding its list of available generic drugs and hopes
to speed up the spread of the program nationwide.
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Related Stories |
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Generic Drug Price War:
Target Matches Wal-Mart, CVS
Says Wal-Mart Plan is Meaningless
Discounts by Kmart, Wal-Mart, Target – No
word from Walgreen's
 September 23, 2006 – The pharmacy battle over who
has the best deal on generic drugs, which can help millions of senior
citizens falling into the "doughnut hole" of their Medicare drug plan,
has been hot after Wal-Mart's announcement of a $4 price on a 30-day
supply on limited generics. Kmart struck first, saying its deal is
better at $15 for a 90-day supply. Then, Target said it will match the
Wal-Mart offer. But, CVS may have hit the nail on the head saying,
"These 300 drugs are all older generics that already have lower
reimbursement rates from health plans. They represent less than 10% of
the more than 3,000 unique generic products that we stock." The nation's
largest pharmacy, Walgreen's, has yet to issue a statement.
Read
more...
NOTE: See more links below the news story.
Read more
on
Health & Medicine |
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The program has been expanded to include 314
generic prescriptions available for up to a 30-day supply at commonly
prescribed dosages. The list of 314 generic prescriptions is made up of
as many as 143 compounds in 24 therapeutic categories.
Since launching the program in the Tampa Bay market
two weeks ago, the list has been expanded to include medicines such as
the oncology drug Megestrol and Lovastatin, which is used to treat
cholesterol.
The list of $4 prescription medications now
represents nearly 30 percent of prescriptions currently dispensed in the
235 Wal-Mart, Neighborhood Market and Sam's Club pharmacies throughout
Florida, the company says.
Wal-Mart says the speed-up is in response to
customer demand and requests from Florida state officials.
In making the announcement, Bill Simon, executive
vice president of the Professional Services Division for Wal-Mart, said
the response in the Tampa Bay, Fla. test market has been considerable,
with 36,000 new prescriptions filled in the ten days after the September
21, 2006 launch. Customer savings on top-selling prescription
medications in the program are projected to be significant.
For specific medications, the company estimates the
following approximate savings to Florida Wal-Mart and Sam's Club
customers and members under the program, based on current average retail
prices from myfloridarx.com:
● Fluoxetine (20 mg), an antidepressant: about
$210,000 monthly and $2.5 million annually on this medication.
● Lisinopril (10 mg), used to treat high blood
pressure: about $150,000 monthly and $1.8 million annually on this
medication.
● Atenolol (25 mg), a beta blocker: about $75,000
monthly and $900,000 annually on this medication.
"Across the board, seniors, working families and
the uninsured have lined up at our Tampa area pharmacies and told us
that we're doing the right thing. Others have asked us, 'Why not in my
town?'" said Simon. "So we've evaluated our supply chain and in-store
operations over the past two weeks and we're able to respond to consumer
demand to expand the program sooner than we initially anticipated."
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More About Program |
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Below is a link to the
Wal-Mart Pharmacy home page. In the lower right are links to
information about the discount generic drug program. As we
published this article, the drug list had not been changed to
add the additional drugs available.
Click
Here |
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Simon noted that he has challenged his team with
figuring out how to expand the program to other states before the end of
the year.
"We're doing what we do best -- driving costs out
of the system so consumers benefit. And, we're doing it in a way that
introduces competition to an area where there hasn't been enough of it,"
he said.
The prescriptions included in the program represent
many of the most commonly prescribed medications in a wide range of
therapeutic categories. Generics contain the same high quality active
ingredients as their "brand- name" counterparts and are equally
effective but cost significantly less. Wal-Mart continues to use the
same suppliers as before the launch of the $4 generic prescription
program.
"This program makes everyone at Wal-Mart proud. It
enables us to respond to the needs of our customers who have struggled
far too long with the high cost of prescriptions," said Wal-Mart
President and CEO Lee Scott.
"Part of this is about saving these customers
money, but even more importantly, it's about making sure they get the
medicines they need to live healthier lives."
"Wal-Mart has again stepped up and is accelerating
the rollout of their $4 generic prescription program across the state,"
said Florida Gov. Jeb Bush.
"This program empowers our people to talk to their
doctors about accessing these more affordable medications, which can
lead to higher compliance rates and better health. This program is good
for Florida and even better for Floridians."
Wal-Mart says 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 or by telephone for
refills only for in- person pickup in Florida.
For further information on the program including
store locations, customers can call 1-800-WAL-MART, go to
http://www.walmart.com/pharmacy , or visit their Florida Wal-Mart,
Neighborhood Market or Sam's Club to discuss the program with their
pharmacist or pick up a brochure explaining 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 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
http://www.walmartfacts.com/ .
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Related Stories |
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Kmart Says Its 90-Day Deal on Generic Drugs is
Better than Wal-Mart's 30-Day
Kmart's plan -
already nationwide - offers 90-day supply for $15
September
22, 2006 – Kmart says it has a better deal on generic drugs for senior
citizens trying to buy prescription drugs after falling in the "doughnut
hole" of most Medicare drug plans. Wal-Mart said yesterday it will offer
generic drugs at $4 for a 30-day supply. Kmart says its deal, already in
place nationwide, is a 90-day supply for $15.
Read more...
Wal-Mart to Price Nearly 300 Generic Drugs at $4 to Help Seniors in
Doughnut Hole
Program starts
tomorrow in Tampa, will eventually be nationwide
September 21, 2006 – With thousands of senior citizens falling into the
Medicare drug program's "doughnut hole," where premiums continue but
drug coverage stops, Wal-Mart has announced a program in Florida to make
nearly 300 generic drugs available for only $4 per prescription for up
to a 30-day supply. This begins tomorrow in the 65 Wal-Mart,
Neighborhood Market and Sam's Club pharmacies in the Tampa Bay area and
will expand throughout Florida in January. This, the company says, is
the first step toward making the offer nationwide.
Read more...
Four
Million to be in Medicare Drug Program Doughnut Hole by End of Month
Survey finds 16%
dropping medications rather than go to generics
September 21, 2006 –By the end of this month,
four million Medicare-eligible senior citizens and disabled, averaging
seven prescriptions per month, are estimated to fall into the Medicare
Part D "doughnut hole," a nearly $3,000 coverage gap where their drugs
are no longer paid for by their drug plan, yet, they must continue to
pay the monthly premium. A new study indicates about 16 percent will
just stop taking their medications.
Read more...
Medicare's Doughnut Hole Gets Even Bigger in 2007,
Reports Medical Rights Center
Asclepios
newsletter says administration brags that the average Part D premium is
going down, but it fails to mention that all other out-of-pocket is
going up
September 22, 2006 – There is a storm of concern
over the millions of senior citizens falling into the "doughnut hole" in
Medicare drug plans, which is where seniors continue to pay their
premiums but get no help on buying drugs. If it is bad this year, wait
until next year when the "doughnut hole" gets even bigger, according to
Asclepios, the weekly Medicare consumer advocacy update from the
Medicare Rights Center.
Read more...
Read more on
Medicare
Drug Program
or
Medicare
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