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BENTONVILLE, Ark. - Wal-Mart said yesterday that its $4 generic prescription drug program has been so successful that, six months into the program, $4 scripts now comprise almost 37.8 percent of all prescriptions fills at its pharmacies.
Reuters reported that the retailer disclosed the program performance during a meeting for the press a day ahead of its annual shareholders' meeting.
Bill Simon, U.S. chief operating officer for Wal-Mart, said the company estimated theat the program has helped cut $350 million of cost from the nation's healthcare system, and that it anticipates savings to climb to $1 billion in a year.
Reuters reported that Wal-Mart began selling certain generic drugs for $4 per monthly prescription in September, and by the end of November had extended the program to all its U.S. pharmacies far ahead of schedule.
Simon also said the retailer still expects to open as many as 2,000 in-store health clinics in the next five to seven years if current demand persists.