Wal-Mart increases $4 prescription drug scheme

Source: Stock Market Digital

Date :28/09/2007 09:37:30

The American Wal-Mart Stores have announced an increase in the number of medicines added to its four dollar prescription program.

This move towards making medicine more affordable and including more generic drugs is part of the company’s expansion in its health and wellness services.

Wal-Mart said, “It plans to make available for four dollar drugs to treat glaucoma, attention deficit disorder/ attention deficit hyperactivity disorder, fungal infections and acne. Fertility and prescription birth control will also be available for nine dollars.”

The scheme was started in September last year, selling certain generic drugs for four dollars per monthly prescription and by the end of November had extended the programme to all its U.S pharmacies.

It has been reported, over the last year the programme has saved customers $613.6m.

The company also plans to open as many as 400 in-store health clinics in the next two to three years, and the number could jump to 2,000 in five to seven years.

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There was a noticeable increase in Wal-Mart shares were up 49 cents, or 1.1 per cent, to $43.79 in early trading on the New York Stock Exchange following the announcement.

Wal-Mart is the largest grocery retailer in the United States, with an estimated 20% of the retail grocery and consumables business. The retailer saves American families $2,500 yearly, up 7.3% from $2,329 in 2004.

September 28 2007