September 22, 2006

$4 Drugs: Target Joins Walmart's Bandwagon

Effective today, Target will follow Walmart's lead and offer $4 generic drug prescriptions in the Tampa Bay area, although it's not clear if Target intends on going nationwide with the program. Walmart has already announced that it will take the bargains into all its US stores, a step that CVS has dismissed as involving "older generics" that "represent less than 10 percent of the more than 3,000 unique generic products that we stock."

Meanwhile, pharmaceutical companies see Walmart's action as threatening, putting Walmart in the same battle trenches as the US Senate in the war against high drug prices.

What drugs are involved? Walmart provides an online list here.


Sources: TradingMarkets.com, Walmart.com, Canada's NationalPost.com.

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