CVS Cuts Generic Drug Costs, Fuels Price War Between Drug Stores
On Thursday, CVS announced plans for a program that will sell 90-day supplies of generic drugs for $9.99 and offer 10% discounts at its in-store clinics for customers who pay cash, the Los Angeles Times reports.
The program, called Rx Health Savings Pass, is slated to launch on Nov. 9 and is expected to escalate competition with Wal-Mart and other retailers that have offered discounts on generic drugs in recent years.
CVS will charge a $10 annual fee to participate in the program.Â
CVS operates 554 in-store MinuteClinics, including 59 in Southern California. The clinics offer low-cost treatment for common or minor medical problems (Girion/Chang, Los Angeles Times, 10/31).
Longs Acquisition
In other CVS news, the pharmacy chain announced plans to eliminate 800 corporate positions at the Walnut Creek headquarters of Longs Drugs, which CVS recently bought.
The announcement came in a letter on Thursday.
Jobs in administrative, human resources, I.T. and other operations have been affected (Avalos, Contra Costa Times, 10/31). This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.