DOES ANYONE REMEMBER $4 GENERIC DRUGS…?
Remember the roll-out that wouldn’t end? Remember the interminable press conferences? Douglas A. McIntyre at BloggingStocks does and he asks the question: Has Wal-Mart’s $4 drug program begun to lose gas?
Walgreen (NYSE:WAG) and Rite Aid (NYSERAD) both turned in excellent results for the last quarter. Part of the message sent by both companies is that Wal-Mart Stores, Inc. (NYSE:WMT) $4 generic drug program is not hurting them. But Wal-Mart said its November pharmacy sales were up sharply.
Some part of this does not make sense. Some analysts say that the Wal-Mart drug buyers as consumers without insurance who were not going to any store while the mainstream pharmacies cater to patients who are insured. Rite Aid and its large competitors keep more generic drugs stocked in its stores, and their prices are not very different from Wal-Mart’s.
My opinion? It never had any fuel to start with. It was a desperate public relations grab that never left the gate.
It got a little bit of good press (probably too much) and apparently drew quite a few shoppers to the company’s pharmacies. It accomplished a limited amount of good for those who need drugs on the list and have a fixed income, especially since it spurred the competition to match it.
“Desperate,” yes.
One more group of people who benefited: Those who used it as an opportunity to buy Walgreens stock.
Shalom Someone,
Did you ever wonder if Sam Walton conciously named his stores Wal Mart to ride the Walgreens coattails?
B’shalom,
Jeff
$4.00 Is great for a 1 month supply. But for 3 months it cost me 10.00. Who wants to wait in line for $4.00? They say it is for the uninsured, but anyone can walk in and say they are uninsured. Walmart has crumby
hours and they shut down the pharmacy for lunch. I’ll go to Walgreens for less of a headache.
Yeah, Sam ****WAL****ton named his Walmart stores to ride Walgreen’s coattails. Which coattail is he trying to ride on with Sam’s club?
Bettter prices are a help to the consumer. Ask yourseld, how did walmart become the number one #1 retail chain. I’ll tell you it is price. Walmart is NOT the low price on everything, but overall they are hard to beat.
Shalom Someelse,
First, thank you for stopping in, for reading and, most importantly, for taking the time to leave a comment. It’s all about the conversation.
Start up companies attempt to hop on coattails all the time. And your comment on Sam’s Club is a perfect example. Sam Walton could have named his stores Sam’s Mart or Walton Mart but he chose Wal Mart. Of the three, which appears closest to Walgreens?
B’shalom,
Jeff
Shalom Ginger,
First, thank you for stopping in, for reading and, most importantly, for taking the time to write a comment. It’s all about the conversation.
It was never more than an attempt to garner attention. You’re wise to stick with good customer service.
B’shalom,
Jeff
Shalom Frank,
First, thank you for stopping in, for reading and, most importantly, for taking the time to write a comment. It’s all about the conversation.
How Wal Mart became the No. 1 retail chain and how Wal Mart stays the No. 1 retail chain are two different questions. You are correct on the first , but miss the boat on the second.
Wal Mart stays in the No. 1 position by exporting the American jobs it can and by doing everything within its immense power to marginalize those jobs that it cannot.
There is a much bigger picture here beyond being able to buy a plasma tv for 30 percent less.
B’shalom,
Jeff
I admit I am very conflicted about Walmart. They come in and put a lot of small mom and pop store out of business, they buy products that are made in countries with no fair labor laws, or countries that do not respect the rights of thier citizens. I HATE them for that!!!!
On the other hand…….
After Katrina Walmart had people in their parking lot giving out free ice, water and tarps. We were without electricity for more then 30n days, they were there every day giving out the supplies. You did not have to make a purchase to get these things. They also had free 1 month supplies of medications for people effected by the storm (we all were).
As for the $4 generics, I haven’t had insurance since the storm (yes we are both working but are not insured at this time), I usually get my generic scrip filled at Walgreensat a cost os $80, now I can get the same thing for $4. Ijust saved $74!!!!!
How are they bad for saving people money on necessary items? Target has a $4 generic program too, are they equally bad?
Shalom Conflicted,
First, thank you for stopping in, for reading and, most importantly, for taking the time to write a comment. It’s all about the conversation.
I fully understand and appreciate your conflict. It’s a very real issue facing Americans. We all have to deal and find the gray in the middle we’re most comfortable with.
That was why I created My Little Toothpaste Buycott.
B’shalom,
Jeff