Wal-Mart rolled out a 90-day special offer to American consumers on Monday that sells prescription drugs for $10. The promo includes increasing additional medications for women and unveiling $4 over-the-counter pharmaceuticals.
Wal-Mart and its Sam's Club pharmacies will fill prescriptions for as many as 350 generic drugs costing $10 for a 90-day supply, an expansion from the existing 30-day supplies that cost $4. The roll out will be across the U.S except in North Dakota where Wal-Mart has no in-store drugstores.
The women's drugs, are which used to treat osteoporosis, breast cancer, menopause and hormone deficiency, are sold at $9. Meanwhile, prices for over 1,000 over-the-counter medication are lowered to $4 or less.
John Agwunobi, senior vice president of Wal-Mart, said the medicine discounts benefits are not just felt by the consumers but even by the giant retail chain. This is the time for us now to begin building capacity... It offers (customers) employers potential savings. It offers the customers significant savings. It also offers us the ability to add capacity to our pharmacies without adding people, Agwunobi said in a statement.
The discount retailer has increased its health and wellness business to 9 percent of its total in the last fiscal year from 8 percent two years prior, spurred off by the launch of the $4 generic prescription drug program in Tampa, Fla. in September 2006.
Wal-Mart says that since the program was launched, it has saved U.S. consumers more than $1 billion.
Wal-Mart shares fell 53 cents or 0.92 percent to $56.97.