Consumers are suddenly getting a break
on the cost of generic drugs as discount retailers and
some prescription benefit managers start programs that
provide a host of popular medications at very low costs.
In the last month, Wal-Mart stores Inc. and Target Corp.
have begun programs at pharmacies in their Florida stores,
including Wal-Mart's Sam's Club, offering dozens of
generic drugs for $4. Last May, Kmart Holding Corp.'s
1,100 stores began offering generics for $15 for a 90-day
supply.
On Thursday, Medco Health Solutions, one of the largest
U.S. prescription benefit managers, announced a plan
targeting consumers indirectly through small- and
medium-sized businesses struggling to offer employees
prescription coverage.
Medco, based in Franklin Lakes, will offer its "Generics
First" plan through partner health insurers for
which it manages prescription claims and shipments from
its mail order pharmacies. The plan kicks off this week
through the first insurer to sign up, Nationwide Life
Insurance Co., said John Driscoll, Medco's group president
for new business development.
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