Pharmacists Worried Over Wal-Mart

9/22/06 - Wal-Mart begins a new program today, selling generic prescription drugs for less than five dollars. It's a move that has Target pharmacies following suit.

The nation's largest retailer slashes generic drug costs by as much as 90 percent in some cases, leaving local pharmacists wondering how they'll survive.

Today Wal-Mart begins a test program selling 291 generic prescription drugs for four dollars each in the Tampa Bay area.

Target is announcing it is matching those generic drug price cuts.

Now family-owned pharmacies like Economy Drugs in Tallahassee may start feeling the pinch. A pharmacist there says some of the drugs themselves cost more than the four dollars.

The four dollar generic drugs will include some antibiotics, antidepressants and prescription vitamins.

Analysts say consumers will see an average savings of 20 percent and up to 90 percent in some cases.

Wal-Mart says the program starts today in the Tampa Bay area and will be expanded throughout Florida in January and the rest of the country sometime next year.