Wal-Mart Rx Plan Saves Customers $1 Billion-Plus

Bentonville, Ark Wal-Mart Stores Friday that it has saved U.S. consumers more than $1 billion with its $4 prescription plan. The plan launched in September 2007.

Dr. John Agwunobi, senior VP and president of health and wellness at the retailer, noted that the plan had further-reaching implications because many of Wal-Mart's competitors cut their prescription prices as well.

“While $1 billion in savings is an astonishing achievement, the real savings to America—and its health-care system—are even larger,” said Dr. Agwunobi, in prepared remarks that he will make Friday to the Council of Teaching Hospitals in New Orleans. “That's because many of our competitors have also lowered their prices.”

He added that $4 prescriptions now represent about 40% of all filled prescriptions at Wal-Mart, and that almost 30% of $4 prescriptions are filled without insurance, compared to 10% in the industry.