Wal-Mart Says Generic Drug Discount Program Has Saved Consumers More Than $1B
Wal-Mart's discount program for generic prescription drugs has saved customers more than $1 billion in 2007, company officials announced on Friday, the Arizona Republic reports (Alltucker, Arizona Republic, 3/16). The program, which started in September 2006, offers discounts for 361 prescriptions representing different formulations of 157 generic drugs. Most cost $4 per 30-day prescription and several family-planning drugs cost $9 (Kaiser Daily Health Policy Report, 9/28/07).Company officials maintain that the program yielded savings for consumers by pressuring competitors to lower their prices for generic medications and leveraging their purchasing power to force drug prices lower. Wal-Mart officials calculated the savings by comparing the average cost of medications included in its discount program before and after the company began the initiative (Arizona Republic, 3/16). This is part of the Morning Briefing, a summary of health policy coverage from major news organizations. Sign up for an email subscription.
