Wal-Mart’s expansion of its $4 generic prescription drug program into Maryland and Virginia will not affect the bottom line of competing pharmacies, drugstore representatives said.
Wal-Mart, along with its affiliates Sam’s Club and Neighborhood Market, announced Thursday that they are now offering more than 300 generic drugs at the $4 rate in 12 additional states, including Virginia and Maryland.
There are no Wal-Mart stores in the District. The company launched the program in Florida last month and now has 26 states participating.
Drugstore representatives said they are not concerned about the program taking business from their in-store pharmacies and have no plans to start similar programs. However, Wegmans Food Markets Inc., which has locations in Northern Virginia, initiated Thursday it will launch a similar prescription drug program.
“The average co-pay for the drugs that are included on Wal-Mart’s list are not much more than $4,” Rite-Aid spokeswoman Jody Cook said.
More than 95 percent of the prescription drugs Rite-Aid sells are paid for by insurance.
“We don’t expect patients to give up the conveniences and additional services … that we’re able to provide in their own neighborhood for such a small price difference.”
Rite-Aid has eight stores in the District, as well as several in Maryland and Virginia.
CVS/Pharmacy said in a statement that the drugs in the Wal-Mart program represented less than one-half of 1 percent part of its total pharmacy sales. Walgreens asserted that Wal-Mart’s program was aimed at countering Walgreen’s service advantage.
“Wal-Mart’s limited price promotion is in response to the increasing number of seniors choosing Walgreens for their pharmacy needs,” Walgreens spokesman Michael Polzin said in a statement.
“Therefore, Walgreens will not match Wal-Mart’s promotion. Once consumers learn the fine print of Wal-Mart’s program, they’ll realize Walgreens offers the best value for pharmacy patients with its convenient locations, close-in parking and unique pharmacy services.”
A spokeswoman for Wal-Mart said the store’s new prices affect 1 in 4 prescriptions and they’ve had an “overwhelming” response to the program.
The company accelerated the expansion of the program because of demand and it hopes to be in all 50 states by January 2007.
