Wal-Mart recently released plans to sell generic prescription drugs for about $4 per month's supply. The average cost for a month's supply of a generic drug in 2004 was almost $30, according to the Food and Drug Administration.
They have been moving in this direction ' to become a one-stop shop for everything from groceries to prescription medication ' for years.
Once upon a time, Wal-Mart was a convenient supermarket where you could buy light bulbs, school supplies and automotive parts without leaving the building.
Then, the chain added groceries with its Super Wal-Marts and Sam's Clubs, which sell bulk products at reduced prices. In thousands of suburbs around the country, it revolutionized shopping on its way to becoming the world's largest retailer.
This spring, the Wal-Mart corporation announced its plans to sell health insurance to its small business customers and also to open its own bank to process internal credit card transactions, both of which are slated to happen in Utah.
This most recent move will certainly benefit the corporation, whose increased foot traffic could propel them to a larger share of the retail market, but in doing so, it will place additional pressure on rivals like Target and Meijers to also carry generic drugs at a reduced price.
Brand name drugs, or about 25 percent of those registered with the FDA, would still be unavailable.
If this plan is succesful, the consumers will be the eventual winners, claiming a victory against high drug costs, albeit one borne of greedy intentions.
It will especially benefit those in the lower socio-economic strata, like people using Medicare or seniors who are on a fixed income and spend a large portion of that on prescriptions already.
Whether Wal-Mart is taking a stand against the drug industry or just continuing to offer more to dominate the American marketplace, the result is a win for customers.
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