Wal-Mart Offers New Drug Program
Retail giant
Wal-Mart
(WMT) - Get Walmart Inc. Report
could soon come head to head with pharmacy benefit managers.
The discounter said on Tuesday it will begin testing a $10 mail-order drug program, similar to those offered by pharmacy benefit managers, such as
Medco Health Solutions
.
Wal-Mart's discount prescription drug program will allow customers to get 90-day supplies of some 300 generic prescription drugs through the mail for as little as $10.
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The news comes a day after
CVS Caremark
(CVS) - Get CVS Health Corporation Report
reported positive results for a similar program.
Pharmacy benefit managers have been encouraging customers to fill orders through the mail and replace monthly prescriptions with cheaper 90-day orders, since it is both cheaper for consumers and more profitable for benefit managers.
Wal-Mart's program will have no membership or enrollment fees. Wal-Mart will test the program in Michigan.
In 2006, the company launched a program allowing customers to fill a 30-day prescription of a low-cost generic drug for $4.
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