Wal-Mart to Expand Discount Drug Plan [New York Times]
Summary: Wal-Mart is expected to announce today that it will expand its discount generic drug plan ahead of its original plan to do so in January, due to strong demand. Its program was introduced in Florida, and will be extended to more than 12 additional states including: New York, Texas, Oregon, Arizona, Vermont and North Carolina. Consumers can purchase month-long doses of 150 different medicines for $4, compared to the average cost of generics of $10-$30.
Related links: Wal-Mart's Cheap Drugs Not as Threatening as they Appear • Walgreen Claims No Threat From Wal-Mart's Low Price Generic Drugs • Wal-Mart's Low Cost Generic Drug Implications for Pharmacy Benefit Managers, on Retailers, and on a Macro Outlook • Why Wal-Mart's Drug Program Shouldn't Worry Walgreen and CVS Investors
Potentially impacted stocks and ETFs: Wal-Mart (WMT), Walgreen (WAG), CVS (CVS), Longs Drug Stores (LDG), Rite Aid (RAD) • Teva Pharma (TEVA), largest seller of generics in U.S. • Pharmacy benefit managers: Medco Health Solutions (MHS), Express Scripts (ESRX) and Caremark (CMX) • Retail HOLDRs ETF (RTH)
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