Wal-mart announced today that it will begin a pilot program soon that will offer generic drugs to both the insured and uninsured for as little as $4 a month for a 30-day supply.
In doing so, it brings to bear its huge influence in the American economy and its legendary ability to wring cost and inefficiency out of its supply chain. While the chain says it will not pressure pharmaceutical companies (and that the lower cost comes solely from more efficient distribution), it wouldn’t surprise me if it does so if and when the program ends up being popular.
Additionally, competitors like CVS whose supply chains are not nearly so legendarily efficient will come under severe pressure to turn the screws on Big Pharma lest they start bleeding red ink.
It’s about time that American businesses step in where the federal government has so miserably failed, and start putting the reins on soaring healthcare costs. This will also be a much-needed reprieve for the millions of elderly and poor who must choose every month between food and their prescriptions.
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I thought you didn’t like Walmart. Good news: Target will also start doing the same thing, effective immediately.
How ironic that the company that used to screw its own employees out of health care coverage is doing this. At least now Wal-Mart employees should have access to cheap prescription drugs.
I don’t like them much, but they’ve been doing things lately to repair their image such as this and some aggressive environmental initiatives. Gotta give credit where it’s due..
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