August 4, 2008
Walgreens Enhances Retail Pharmacy Industry’s Most Comprehensive Prescription Discount Program
-- Walgreens Prescription Savings Club Offers 90-Day Supply of More Than 400 Generic Drugs for Less Than $1 Per Week-- Savings also Available on More Than 5,000 Brand Name and Generic Drugs Across Every Therapeutic Class
-- Club Members Avoid Risk of Filling Medications at Multiple Pharmacies
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Walgreens (NYSE:WAG)(NASDAQ:WAG) has enhanced its Prescription Savings Club to offer a 90-day supply of more than 400 generic medications for $12 - less than $1 per week. This list of value-priced generics, comprised of some of the most commonly prescribed medications, includes treatments for pain, asthma, blood pressure, cholesterol, diabetes, women's health and much more.
Walgreens Prescription Savings Club, which launched last fall, also offers savings on more than 5,000 brand name and generic medications spanning every drug category, making it the most comprehensive drug savings program in the retail pharmacy industry. The plan was developed by pharmacists to cover treatments for common and chronic conditions, as well as preventive and lifestyle drugs not covered under many insurance plans, such as weight management, smoking cessation, family planning and sexual health.
"This club offers pharmacy patients exceptional value with its broad range of drugs covered, competitive pricing and superior convenience of our 6,300 locations," said Walgreens senior vice president of pharmacy services Kermit Crawford.
One of the most important benefits of Walgreens Prescription Savings Club is that it allows patients to save on most, if not all, their medications at one pharmacy. Many patients are unaware of the safety risk involved with filling a generic at one pharmacy, an antibiotic at another and a brand name at a third. Using one pharmacy retailer allows pharmacists to screen more completely for dangerous drug interactions. Walgreens pharmacists can access a patient's Walgreens prescription records no matter which location the patient uses.
"We've put together a truly complete solution that goes well beyond just offering good prices on a few drugs. We give patients the security and peace of mind of having all their prescriptions with one pharmacy that's always nearby," said Crawford.
Enrollment in the Prescription Savings Club is only $20 a year for an individual or $35 a year for families(1) - a cost many patients recoup with just one prescription filled under the plan. Anyone not receiving government-sponsored prescription coverage such as Medicare or Medicaid is eligible and no prior authorization is required.
The program has proven to be an attractive option not only for the uninsured, but anyone purchasing a medication not covered under their insurance plan. Savings will vary depending on the current cash price in a given area on a given day.
-- An uninsured Walgreens patient who pays the club price of $12 for a 90-day supply of the generic diabetes drug metformin would typically save about $50.
-- A Walgreens patient treating high cholesterol who pays a discounted club price of $45.97 for a 90-day supply of generic simvastatin would typically save about $115.
-- A Walgreens patient treating seizures who pays a discounted club price of $140.53 for a 30-day supply of the brand-name drug Topamax would typically save about $33.
Walgreens Prescription Savings Club has seen a surge in enrollment in recent months as more patients become aware of the opportunity for significant savings.
"After my pharmacist printed out a list of prices for my prescriptions under the plan and I compared them side-by-side with what I was paying, joining the club seemed like a no-brainer," said Walgreens pharmacy patient Edward Freeman of Miami Beach, Fla. "I'm glad I took the advice - I've already saved about $120 over the last three months."
Walgreens Prescription Savings Club also covers hundreds of pet medications for substantial savings compared to prices found at many veterinarian offices.
In addition, club members receive a 10 percent reward on all Walgreens-branded products from OTC medications, baby care and household items to consumables. Rewards can be used toward any future Walgreens purchase (some exceptions apply). As the program continues to evolve, a number of other membership benefits will be added.
"We're encouraged by the reaction to this program," said Crawford. "People are facing challenging economic times, and we're helping them save money without compromising the safety, service and convenience they value."
For a complete list of medications covered under the program, go to www.walgreens.com/rxsavingsclub or visit your local Walgreens pharmacy.
Walgreens is the nation's largest drugstore chain with fiscal 2007 sales of $53.8 billion. The company operates 6,356 drugstores in 49 states, the District of Columbia and Puerto Rico. Walgreens provides the most convenient access to consumer goods and cost-effective health care services in America through its retail drugstores, Walgreens Health Services division and Walgreens Health and Wellness division. Walgreens Health Services assists pharmacy patients and prescription drug and medical plans through Walgreens Health Initiatives Inc. (a pharmacy benefit manager), Walgreens Mail Service Inc., Walgreens Home Care Inc., Walgreens Specialty Pharmacy LLC and SeniorMed LLC (a pharmacy provider to long-term care facilities). Walgreens Health and Wellness division includes Take Care Health Systems, which is comprised of: Take Care Consumer Solutions, managers of 191 convenient care clinics at Walgreens drugstores, and Take Care Employer Solutions, managers of worksite-based health and wellness services at 355 employer campuses.
(1)This card does not constitute insurance. Membership fee of $20 per individual or $35 per family per year required. Persons enrolled in a publicly funded health care program are ineligible. Membership may be cancelled within 30 days of issue date. For complete terms and conditions, call 1-866-WCARD-12 (1-866-922-7312) or visit www.walgreens.com/wcard.