So I’m reading my morning news and see that Wal-Mart is piloting a program in Florida where they’ll sell 291 generic prescription drugs for $4 for a 30-day supply. According to the article, those drugs typically cost $10-$30. But I love how their PR is spinning it as “we care for our customers” – they quote Wal-Mart CEO H. Lee Scott, Jr.
Each day in our pharmacies we see customers struggle with the cost of prescription drugs. By cutting the cost of many generics to $4, we are helping to ensure that our customers and associates get the medicines they need at a price they can afford.
Yeah right, I’m sure that they really care about the health of their customers. They definitley have one of the worst health insurance coverages for their employees.
If this flies in Florida it will probably help increase Wal-Mart’s sales revenue. Think about it – If your average senior is paying $30 for a month one prescription, and they probably have about five that they’re on, then they’re paying about $150 a month or $1800 a year. But if they’re paying just $4 for that same prescription, it’s only $240 a year! So that frees up a lot of money to spend at Wal-Mart while you’re picking up your meds. And you’re probably buying products that have a higher mark-up translating into more money for the company.
Yes it’s good that grandma and grandpa won’t have to break the bank to eat, but Wal-Mart isn’t kidding anyone that they’re doing it from the goodness of their heart.