Projo Biz Blog

Shares in CVS Caremark Corp., Medco Health Solutions Inc., and Express Scripts Inc., the biggest U.S. managers of pharmacy benefits, slumped this morning after the Wall Street Journal reported that Wal-Mart Stores Inc. will enter the prescription-claims processing business.

Shares of CVS Caremark, based in Woonsocket, slipped 70 cents to $36.39 at noontime in trading on the New York Stock Exchange.

In a speech yesterday to 7,000 store managers, Wal-Mart Chief Executive Officer Lee Scott said the company will save employers $100 million in 2008, the Journal reported today. Benefits managers bargain for lower prices from retail pharmacies and get rebates from drugmakers, the newspaper said.

Bentonville, Arkansas-based Wal-Mart is the world's largest retailer.

Comments

Avramopoulos said:

Hi

I think it is a your planning of mind then you get
success.

Link | August 1, 2008 1:40 AM
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