Comments on: Walgreen worries about public option…

By: Andrew

Andrew — Mon, 22 Mar 2010 08:47:38 +0000

Another aspect of pharmacy that the consumer fails to see is the insane amount of money poured into the development of the drug. Drugs like Plavix take billions of dollars to develop, that means the drug company needs to make billions of dollars in order to begin to profit. That’s why medication prices are so high. Nobody is getting gorged. People are spending billions of dollars and years of research so that we can improve our healthcare and quality of life so those people should be reimbursed significantly, because if they weren’t there would be no point in continuing to do that, and essentially that means everyone just dies sooner.

By: TG

TG — Sat, 31 Oct 2009 18:20:57 +0000

Unfortunately, the majority of people do not understand the business model for pharmacy. Reimburemsent rates for prescriptions are actually really low. The fact is when it comes to many state Medicaid plans, pharmacies actually lose money when they fill the prescription. There is a minimum cost to the pharmacy to fill any prescription – medication, insurance billing (they charge the pharmacy money every time a claim is submitted), labor, paper, vials, ink.. etc… As one person already posted, insurance companies have minimized their reimbursement rates, and this is why mom and pop pharmacies have been disappearing. They cannot stay in business. While I am in favor of healthcare reform, government controlled reimbursement rates can potentially do the same thing to retail pharmacies. Folks, the people who make money on these drugs are the manufacturers. Your pharmacist is actually your most acessible healthcare professional, and they often provide medical advice at no charge. If government starts over-regulating, those 2 aspects of pharmacy may soon have to change. This is one reason why the number of family medicine physicians are decreasing. It is not profitable for them to be a doctor unless they specialize- insurance reimbursement is not high for general medicine. So now, if you need a general check up, you may have to now start seeing a nurse practitioner. In many cases, that may be all you need, but it is definitely not the same as seeing a physician. One last point- be weary of online “canada” pharmacies. They can often actually be located in China, and be providing counterfeit medications.

By: Ron

Ron — Thu, 29 Oct 2009 14:52:07 +0000

It’s about time…they should worry…haha. I had a prescription for a liquid stool softener for my elderly DOG. Their charge for 6 oz. was $17.50. When I had to get a larger size, the price was the same. I asked the pharmacist why. She told me “the company has a minimum price allowed” for that item (maybe others, I don’t know). What a despicable company mandate and practice. Walgreen’s for your health….NOT.

By: Bob Oram

Bob Oram — Wed, 28 Oct 2009 20:54:08 +0000

Goodbye Walgreen , Hello Target!! They have cool colored bottles!!!

By: Earl

Earl — Wed, 28 Oct 2009 20:39:32 +0000

Truth is – the profit margins that pharmacy’s make on prescription medicine sales are real low. This is why the big chains offer so much other retail products in their stores. And this is why traditional mom and pop pharmacy’s aren’t more successful – because they don’t offer all the other retail products that a CVS/Walgreens offer.

By: Michelle Leder

Michelle Leder — Wed, 28 Oct 2009 16:31:38 +0000

@Patrick: welcome to footnoted. If you had taken a few minutes to look around before tapping out insults on your keyboard, you might realize that we know quite a bit about 10K filings since SEC filings are the key focus on this site. We don’t need to Google “10K Doom and Gloom” because we actually read the filings — every day! But thanks for stopping by

By: Patrick

Patrick — Wed, 28 Oct 2009 16:16:15 +0000

Conspiracy theories aside, if you knew anything about 10(k) filing requirements you would know that it’s a requirement for any publicly traded company to report even the most remote possibility for business impact. A company could be sued for not reporting the least possible scenario in a 10(k) filing. These things have and always will read like the worrying mom who can’t shake the idea that she left the iron on at home before starting a trip.

Just google “10K Doom and Gloom” and you’ll see how common it is for successful, everyday, companies to use this form to bemoan the woes of their business if such-and-such condition came to occur.

By: james

james — Wed, 28 Oct 2009 10:58:36 +0000

Good article.
Yes Walgreens and CVS both, all their Executives know exactly who to donate to in Washington and who is running to get re-elected.

These Executives know exactly who the players are in the Senate and Congress that will take money and vote anyway they want for campaign cash.
It is called legal Bribery.

However I saw a article on TV last year while in Kansas City.

The TV station investigated these and other Pharmacies all over the city.

What they found out is nothing more than price fixing and Gouging.

They found out that the Pharmacies allover gouge up to 3000% markup on perscriptions over what they pay for it.

So they pay 5.00 for a bottle of pills and mark it up 3000% and that is why it costs so much for 6 pills or a 30 day supply of amoxicillin.

CVS and Walgreens are doing the same.
If they were selling gas at these rates.

We would be paying 150.00 a gallon

The time for reform is now and it is way overdue to shutting this ripoff and Fraud down once and for all.

By: Lee

Lee — Wed, 28 Oct 2009 03:32:11 +0000

Frank-
At least AARP tells both sides of the healthcare debate.

Yes. AARP charges fees. And charges for advertising. So ?

I am disturbed Walgreens seems to be implying that a person should fear Insurance companies being accountable. What’s wrong with accountability ?

By: Frank Graham

Frank Graham — Tue, 27 Oct 2009 15:45:00 +0000

WashPost has story today of how much AARP rakes in from royalties & fees.
As to CVS rip, no wonder Canada pharmas online do such heavy business. Maybe
time to invest in bio & pharma stocks even in face of D.C. issues? Has the decline
in those passed yet as it did after Clinton years banged them over same issues?
AARP: Reform advocate and insurance salesman
Seniors group makes millions from royalties on health plans
http://www.washingtonpost.com/wp-dyn/content/article/2009/10/26/AR2009102603392.html?wpisrc=newsletter