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Sep21
Wal-Mart to Cut Prices On Almost 300 Generic Prescription Drugs, Drugstore chains Shares Falls
Wal-Mart, the world's largest retailer, plans to drop the prices of 291 generic prescription drugs, luring bargain-seeking customers and presenting a challenge to competing pharmacy chains and makers of generic drugs.
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.

According to the company, the program will be launched on Friday at 65 Wal-Mart, Neighborhood Market and Sams' Club pharmacies in the Tampa Bay area and will roll out to as many states as possible next year.

See the full story from the Business Week.

Meanwhile, drugstore shares are falling sharply following this announcement.

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« Angiotech Pharmaceuticals Presents Positive Preclinical Study On Vascular Wrap ™ Paclitaxel-Eluting Mesh for Inhibiting Neointimal Hyperplasia | Main | Nucryst Pharmaceutical's NPI 32101 Drug Candidate Against Atopic Dermatitis Fails Phase II Clinical Trials »

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