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[Ripclawe]

The list so far click here
http://www.sun-sentinel.com/news/lo...,0,6248242.storylink?coll=sfla-home-headlines


http://biz.yahoo.com/ap/060921/wal_mart_health_care_optional.html?.v=1

Wal-Mart's shares fell 41 cents to close at $48.46 in trading Thursday on the New York Stock Exchange. But shares of the nation's largest drug chain, Walgreen Co., slumped 7.4 percent, and the stock of rivals CVS Corp. and Rite-Aid Corp. dropped more than 8 percent and 5 percent, respectively. Generic drug maker Barr Pharmaceuticals Inc.'s stock fell a little more than 1 percent and shares of Mylan Labs almost 2 percent.

http://www.sun-sentinel.com/news/lo...,3247499,print.story?coll=sfla-home-headlines

Wal-Mart plans to sell $4 generic drugs, to start at Tampa stores




By ANNE D'INNOCENZIO
Associated Press

September 21, 2006, 2:00 PM EDT



NEW YORK -- Wal-Mart plans to begin selling nearly 300 generic prescription drugs for a sharply reduced price, offering a big lure for bargain-seeking customers and presenting a challenge to competing pharmacy chains.

The world's biggest retailer said Thursday that it will test its sales program, in which 291 generic drugs will be sold at $4 for a month's supply, in Florida. The drugs involved provide treatments for conditions ranging from allergies to high-blood pressure.

Selling generic drugs at prices that don't offer much if any margin for profit could serve two purposes for Wal-Mart: It could draw customers away from big pharmacy chains to Wal-Mart stores that offer a much wider array of products, and it could help Wal-Mart with an image problem stemming from its policies on health insurance for employees.

``We're able to do this by using one of our greatest strengths as a company _ our business model and our ability to drive costs out of the system, and the model that passes those costs savings to our customers,'' Bill Simon, executive vice president of the company's professional services division, said in announcing the plan at a Tampa, Fla., store. ``In this case were applying that business model to health care.''

Wal-Mart Stores Inc. officials said the reduced price represents a savings to the customer of up to 70 percent on some drugs. The average monthly cost for a generic drug prescription is $28.74, according to the National Association of Chain Drug Stores. For branded drugs, that figure is $96.01.

Critics said the plan was a cover for Wal-Mart's failure to provide its employees adequate health care. They contend that the company's benefits are too stingy, forcing taxpayers to absorb more of the cost as the workers lacking coverage turn to state-funded health care programs.

The program will be launched on Friday at 65 Wal-Mart, Neighborhood Market and Sams' Club pharmacies in the Tampa Bay area and will be expanded to the entire state in January.

Simon wouldn't be specific about why Florida and specifically the Tampa Bay area was chosen for the rollout of the initiative, saying only that there was a need for it here.

The company said it plans to expand the program to as many states as possible next year.

Simon said the 291 generic drugs include ``the most commonly prescribed drugs for the some of the most common illnesses that face Americans today, including cardiac disease, asthma, diabetes, glaucoma, Parkinson's (disease) and thyroid conditions.''

Simon wouldn't give details on how much the plan is expected to cost Wal-Mart or the company's dealings with the drug companies involved.

The $4 prescriptions are not available by mail order and are being offered online only if picked up in person in the Tampa Bay area.

In a conference call with reporters, Simon said that the generic drugs would not be sold at a loss to entice customers into the stores, a strategy that has been used in Wal-Mart's toy business.

He said Wal-Mart is working with drugmakers to help them be more efficient, but added, ``We are working with them as partners. We are not pressuring them to reduce prices.''

Tampa Wal-Mart pharmacy customer Pat Sullivan praised the company's initiative. The retired Massachusetts police officer said $4 generic prescriptions are a tremendous help.

``I'm on disability and my benefits run out by the end of the month,'' he said. ``It comes down to where do I go for a $100 prescription? I have no outlet other than to break a pill in half and take half today and half tomorrow.''

The initiative _ the fourth since last October that Wal-Mart has moved to improve health benefits _ drew criticism from one of its most vocal critics, union-backed Wake Up Wal-Mart. ``While lowering prescription drug costs is a good thing, Wal-Mart cruelly ignores the fact that it fails to provide company health care to over half of its employees which leaves 46 percent of its workers children uninsured or on public health care,'' said Chris Kofinis, spokesman for Wake Up Wal-Mart, in a statement. ``Wal-Mart needs to answer one very simple, but serious question _ why not just improve the health care coverage of its employees?

Wal-Mart's recent moves to improve its health care included relaxing eligibility requirements for its part-time employees who want health insurance, and extending coverage for the first time to the children of those employees. Part-time employees, who had to work for Wal-Mart for two years to qualify, now have to work at the company for one year. This year, Wal-Mart also expanded a trial run of in-store clinics, aimed at providing lower cost non-emergency health care to the public.

Last October, Wal-Mart offered a new lower-premium insurance aimed at getting more of its work force on company plans.

But critics argue that Wal-Mart's coverage calls for a deductible that requires workers to pick up the first $1,000 in medical expenses, and the deductible rises to a maximum of $3,000 for families.

Wake Up Wal-Mart has called upon Bentonville, Ark.-based Wal-Mart to offer better health care coverage and higher pay to employees.

This past summer, Wal-Mart won a successful fight against a first-of-its-kind state law that would have required the retailer to spend more on employee health care in Maryland. A federal judge ruled in July that it was invalid under federal law. But other states are considering similar legislation aimed at the company.

Its shares fell 30 cents to $48.57 in afternoon trading on the New York Stock Exchange.

Associated Press Writer Mitch Stacy in Tampa contributed to this report.

 

[Christopher]

Awesomeness. The medical system in this country is so shit, hopefully walmart can sell medical insurance to people who can't afford it as well ;p.

 

[Hitokage]

Always undercutting competition. Always.

 

[Diablos]

Always undercutting competition. Always.

 

[LM4sure]

awesome news. i love walmart

 

[DarienA]

Always undercutting competition. Always.

In this case I support it.

 

[HomerSimpson-Man]

Hell yes!!

 

[bjork]

I'd pay extra just to not give them my money.

 

[LM4sure]

I'd pay extra just to not give them my money.

That's idiotic. Wal-Mart has one of the best business models ever. I love the way they run their business. I do all my shopping there.

 

[bjork]

That's idiotic. Wal-Mart has one of the best business models ever. I love the way they run their business. I do all my shopping there.

Go work there and get back to me on that.

 

[Jill Sandwich]

Are there any other stores other than Wal-Mart?

 

[Tarazet]

There's always a flip side. The positives are obvious, but besides Wal-Mart, this might also cover other companies who are providing inadequate (or no) health care. After all, if a prescription is less than most plans' deductibles, then what's the point, right? Could indirectly cause as many ugly situations as it prevents.

 

[terrene]

Wow. I hate pharmaceutical companies. Yet I also hate Wal-Mart. In the end, since it increases the availability of drugs to people who need them, I'm all for it. If stores could've afforded to do this all along, they should have. I hope it starts a drug price tumble as they all compete to re-capture that market segment.

 

[GilloD]

Given the insane kinds of subsidies pharm. companies get, **** them. This is the first and, I suspect, last time I'll ever say this: Nice job, Walmart.

 

[Tarazet]

Given the insane kinds of subsidies pharm. companies get, **** them. This is the first and, I suspect, last time I'll ever say this: Nice job, Walmart.

Maybe next they'll buy that huge oil reserve in the Gulf of Mexico and offer gas for $1.50 a gallon.

 

[LakeEarth]

Wal-Mart brand Viagra, can't wait.

 

[Learn2read]

One of them is going to lose, and we get to enjoy watching one (both?) of them suffer...



Satan vs. Satan...Brother against Brother.

"Fist's Hurled in the Underwold, only $49.95, onlionpapavew"

 

[Nerevar]

Awesomeness. The medical system in this country is so shit, hopefully walmart can sell medical insurance to people who can't afford it as well ;p.

yup, just don't ask them to actually give medical insurance to their own employees.

****ing Wal-Mart.

 

[Triumph]

That's idiotic. Wal-Mart has one of the best business models ever. I love the way they run their business. I do all my shopping there.

*slowly reaches for shotgun*

Easy boys, I've got this one...

 

[rs7k]

WTF. This is huge news, how come I don't see this on TV?

 

[Hitokage]

Wow. I hate pharmaceutical companies. Yet I also hate Wal-Mart. In the end, since it increases the availability of drugs to people who need them, I'm all for it. If stores could've afforded to do this all along, they should have. I hope it starts a drug price tumble as they all compete to re-capture that market segment.

That's the thing. They can't.

 

[Koomaster]

Wowie wow wow! Amazing news. How long till we get prescription drug traffickers coming up from Florida? Can't wait till this is nationwide.

 

[emomoonbase]

Take that canada!

 

[HyperZone<3]

Wow. I hate pharmaceutical companies. Yet I also hate Wal-Mart. In the end, since it increases the availability of drugs to people who need them, I'm all for it. If stores could've afforded to do this all along, they should have. I hope it starts a drug price tumble as they all compete to re-capture that market segment.

Given the insane kinds of subsidies pharm. companies get, **** them. This is the first and, I suspect, last time I'll ever say this: Nice job, Walmart.

Well said gentlemen. Well said.

 

[WrathOfOtaibah]

I absolutely loathe the pharmaceutical industries.

+1 respect for Wal-Mart

 

[ronito]

Maybe I'm a bit cynical but I think this is brilliant marketing. Sure give away generic drugs, EVERYONE needs medicine, lure them for that and they'll buy other stuff, you'll easily recoup the lost profit and look like a good company to boot. I don't really see much altruism in this, just very shrewd business. Very clever Wal-Mart. Now everyone else follow suit!

 

[Ripclawe]

http://www.cbsnews.com/stories/2006/09/22/business/printable2032485.shtml

(CBS/AP) Minneapolis-based Target Corp., the country's No. 2 discounter behind Wal-Mart, said it would match its rival's lower prices on generic prescription drugs in the Tampa Bay area immediately "consistent with its long-standing practice to be price competitive with Wal-Mart."

Target operates 1,443 Target stores in 47 states.

Wal-Mart Thursday said it would slash the prices of almost 300 generic prescription drugs, offering a big lure for bargain-seeking customers and presenting a challenge to competing pharmacy chains and makers of generic drugs.

The drugs will be sold for as little as $4 for a month's supply and include some of the most commonly prescribed medicines such as Metformin, a popular generic drug used to treat diabetes, and the high blood pressure medicine Lisinopril.

Wal-Mart will launch the program Friday at 65 Wal-Mart, Neighborhood Market and Sams' Club pharmacies in Florida's Tampa Bay area. It will be expanded statewide in January and rolled out to the rest of the nation next year, company officials said Thursday.

A news release issued Thursday night did not say if Target would also expand its program as Wal-Mart does so, and the company did not immediately return a phone call seeking comment, but the statement said Target's long-standing practice is to be price-competitive with Wal-Mart.

 

[White Man]

This isn't good. It can cause other pharmacies to go out of business since Walmart will be carrying the most commonly used drugs at 4 bucks a prescription. So once you need something Walmart DOESN'T carry, tehre will be fewer pharmacies, and they will be using Walmart as an excuse to charge even more for their prescriptions. So enjoy your penicilin; I just hope you never need anything that isn't generic.

 

[ToxicAdam]

Normally, I would curse this because it means that Walmart will run more mom and pop drug stores out of business. But Rite Aid and Wal-Green have already beaten them to it.

 

[terrene]

Normally, I would curse this because it means that Walmart will run more mom and pop drug stores out of business. But Rite Aid and Wal-Green have already beaten them to it.

Yes, that's the thing. I feel White Man's concern, but Wal-Mart isn't going to kill Rite-Aid, Walgreen's *and* the in-grocer pharmacies. It's just lowering the floor a little so poor/tightly-budgeted people can get in.

 

[BorkBork]

I fail to see how this is anything but a good thing to be honest. Poor people getting vital medicine = good, despite whatever reservations I have with Walmart's business practices.

 

[Der Kommisar]

I fail to see how this is anything but a good thing to be honest. Poor people getting vital medicine = good, despite whatever reservations I have with Walmart's business practices.

Putting smaller companies out of buisness while making Walmart stronger = Bad

 

[demon]

Putting smaller companies out of buisness while making Walmart stronger = Bad

Walgreens is a small business?

 

[MrDaravon]

Whenever I go through Walmart claims, I've noticed that on most widely used name brand drugs, they tend to charge MUCH higher than average, and I've noticed that with personal use on two seperate occasions now (My fiance was taking a medication that was running $12 for 30 pills at two local pharmacies, and Walmart wanted $28). If everyone goes to them for generics, that'll put smaller places out of business, and if you ever need anything that's not a generic, you're going to get raped. I think something like 7 or 8 of the top 10 most commonly used prescriptions by Medicare-eligible people have no generic and usually no therapeutic alternative. Sounds good, and I'm sure it's fantastic for Walmart, but I think it's going to wind up hurting everyone more in the end.

Okay nevermind, this is practically pointless: They say 300 medications, but that's including multiple NDCs/dosages. Off the top of my head, I couldn't think of ANY medications on that list that retailed for more than $15-20 tops, maaybe one or two that go for 20ish. A few actually go for under $4 retail now. I'll pull some prices tommorrow. Generally speaking if the difference between $10 and $4 for a prescription is a hardship, you're going to probably qualify for Medicaide or a PA anyway. This has very little realistic effect but it's great PR for Walmart.

 

[GhaleonEB]

I'm not a big fan of Wal-Mart and their business practices, but I dislike the pharmaceutical companies ever more. So this news thrills me.

 

[White Man]

Yes, that's the thing. I feel White Man's concern, but Wal-Mart isn't going to kill Rite-Aid, Walgreen's *and* the in-grocer pharmacies. It's just lowering the floor a little so poor/tightly-budgeted people can get in.

You really think other pharmacies won't use this as an excuse to raise their prices?

 

[Pimpwerx]

Hehe, so Walmart does something to make people happy again. Just when you thought it was safe to walk away, they pull you right back in. PEACE.

 

[monchi-kun]

That's idiotic. Wal-Mart has one of the best business models ever. I love the way they **** their employees over. I do all my shopping there.

fixed

 

[BorkBork]

Putting smaller companies out of buisness while making Walmart stronger = Bad

Shouldn't more of the blame go into pharmaceutical companies jacking up prices of drugs thousands of percents from their manufacturing costs?

 

[Mashing]

Sell your prescriptions, it's all over!

Really, you're talking about the lesser of two evils here (Wal-Mart vs. the Pharmaceutical industry a.k.a. organized crime). I'd think I'd side with Wal-Mart.

 

[EscapePlan]

sweet, cheap drugs

 

[EscapePlan]

sweet, cheap drugs

 

[WrathOfOtaibah]

Thats because most stores that sell pharmaceuticals commit the equivalent to highway robbery when they sell drugs. Stores like Rite Aid and Walgreens make a killing making obscene profit from drugs. I have no qualms about retailers like Walgreens and Rite Aid losing business.

With the health care costs rising, $4 drugs instead of $20 will greatly improve the lives of some of the disadvantaged. Some of you slapnuts want free health care, well $4 is virtually free. You all bitch about how there's no free health care and now when medicine is at its lowest price anywhere in the US, you bitch again.

Make up your minds.

Edit: Regarding the post below.

The biggest beef I have with the pharmaceutical companies is that they have been trying to inflict a jihad on the overall health of the nation. They want people to be sick. They have vigiliantly attacked multivitamin manufacturers and have been pressuring Congress to pass legislature to weaken or kill off the vitamin industries. It worked in Germany where you have to pay about $40 for a bottle of vitamins that are weaker and $35 more than what you can buy here in the US. What is wrong with taking multivitamins? Nothing but the pharmaceutical companies have been behind every attempt to get them off of the markets.

The FDA is pretty much bought and paid for by Big Pharma. Where they attack creatine monohydrate (with absolutely no health drawbacks) but have no problems injecting viruses into foods. Where a baseball player dies from ephedra (because he was dehydrated) but they stopped the sales of Vioxx after 10,000 deaths. 1 death causes immediate ban of a substance but doesn't ban another one until 10,000!

Utter lunacy but the difference is that one substance (ephedra) is not for sale by pharmaceuticals and one is. The FDA and Congress could have easily investigated after the first Vioxx death but they waited until another 9,999 bodies piled up before making any moves. Why? One industry is $1 billion a year and another one is $500 billion a year. Not to forget the PRMA, the biggest lobbying group in Congress.

So what does this mean with me and Walmart? Walmart has fought against the multivitamin bans with their lobbies (which is why we don't see neutered multivitamins on the shelves today) and this will undercut the pharmaceuticals obscene profit margins, which will weaken how influential they are in the Congress. Walmart is huge enough to stand head to head with the pharmawhores and probably be able to top them.

I hate Walmart pretty much but they are standing up against the scumbags of the pharmaceutical industries, which I believe is a much bigger evil.

In short, **** Big Pharmaceuticals and I hope the $4 drugs results in billions of dollars of losses to the big pharmaceutical companies.

 

[lilraylewis]

I don't think I myself can contribute much to this thread. But I did read a very interesting essay earlier this year that defended the pharmaceutical companies. It does not of course directly adress Wal-Mart's actions. But it says a whole lot of things that may just be relevant to this thread.

The essay, for those who are interested:
http://www.commentarymagazine.com/Production/files/ADV_huber0706.html

 

[sprsk]

Medicine in japan is super duper ****ing cheap.

The most ive ever spend on medication is 1200 yen which is like 10 dollars

 

[Groder Mullet]

That's idiotic. Wal-Mart has one of the best business models ever. I love the way they run their business. I do all my shopping there.

Uh, no they don't. They carry way too much inventory/store, their product is WAY over-assorted (not to mention shitty too) and the fact that their entire model is based on ONE consumer segment.

 

[Nerevar]

In short, **** Big Pharmaceuticals and I hope the $4 drugs results in billions of dollars of losses to the big pharmaceutical companies.

why would this affect the big pharma companies that much? Wal-Mart is only reducing the price of generic drugs. Their main competition in this area is other generic drugs from brand-name stores (CVS, Walgreens, Rite-Aid, etc) - that's why stocks of those companies fell. Pharma companies still derive the bulk of their profit from drugs still in their ~20 year patent protected space that they can charge whatever they want for.

 

[demon]

The biggest beef I have with the pharmaceutical companies is that they have been trying to inflict a jihad on the overall health of the nation. They want people to be sick. They have vigiliantly attacked multivitamin manufacturers and have been pressuring Congress to pass legislature to weaken or kill off the vitamin industries. It worked in Germany where you have to pay about $40 for a bottle of vitamins that are weaker and $35 more than what you can buy here in the US. What is wrong with taking multivitamins? Nothing but the pharmaceutical companies have been behind every attempt to get them off of the markets.

So what does this mean with me and Walmart? Walmart has fought against the multivitamin bans with their lobbies (which is why we don't see neutered multivitamins on the shelves today)

Whoa, what? I never knew anything about that. Any articles I can read about it? That's f*cking insane.

 

[WrathOfOtaibah]

Whoa, what? I never knew anything about that. Any articles I can read about it? That's f*cking insane.

Indeed.

Congress is considering new legislation that would take away your access to safe, effective and affordable dietary supplements, and we need your help to urge your elected officials to Save Our Supplements.

The Dietary Supplement Access and Awareness Act (H.R. 3156), introduced by Representatives Susan Davis (D-CA), Henry Waxman (D-CA) and John Dingell (D-MI), would place dietary supplements under unprecedented and unwarranted scrutiny. H.R. 3156 would subject dietary supplements, including vitamins, minerals, and herbs, to even stricter oversight than these products experienced prior to the passage of the Dietary Supplement Health and Education Act (DSHEA) in 1994. DSHEA already gives the U.S. Food and Drug Administration (FDA) all the authority it needs to police the marketplace and keep bad products from being sold.

If H.R. 3156 becomes law, 70 percent of dietary supplements currently on the market would become subject to burdensome new regulations â&#8364;&#8220; some equivalent to those required for prescription drugs. The result? Higher costs for the supplements you depend on and the very real possibility that vitamins, minerals and herbs you depend on for good health might disappear from store shelves.

You can protect your access to dietary supplements. Write your members of Congress in the space provided below. Let your lawmaker know that good laws exist on the books, and the FDA needs to enforce them. Please share your personal supplement story, so that your lawmaker understands why itâ&#8364;&#8482;s important to protect your access to dietary supplements.

http://thomas.loc.gov/cgi-bin/query/z?c109:H.R.3156:

It was an old link of a bill that was trying to pass. Apparently it faltered or else we would be seeing bastardized vitamins on the shelves. A lot of bills are created and then fail. Still, the fact that government is fighting against health in the US is pretty shocking.

The health standards are now determined by a committee called Codex:

http://www.newmediaexplorer.org/sep...ioudakis_nutrition_not_relevant_to_health.htm

The "doctors" here claim that nutrition is pointless. Apparently malnutrition is nothing but a myth.

These assholes are supposedly the ones deciding the future health of the world.

Here is Dickless Durbin suggesting that members of the military can only consume caffeine and no other vitamins or minerals. He attached this to the defense bill.

http://thomas.loc.gov/cgi-bin/bdquery/z?d109:h.r.02510:

Another bill that allocates more spending to educating (note: scaring) kids away from supplements and subjects supplements to stricter standards than pharmaceuticals. Note that pharmaceutical related deaths far outweigh supplement deaths but somehow supplements receive stricter standards.

http://thomas.loc.gov/cgi-bin/query/z?c109:H.R.2510:

There's more of course but this is a general idea of the direction of supplements in the US. Pharmaceuticals want them neutered to nothing, probably gone entirely so they can be able to provide it...for obscene profits probably.

 

[demon]

Thanks for the links. Pretty scary stuff. It's pretty sickening how a handful of greedy assholes have the power to determine the well-being of the country/world.