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).
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.