CVS slashes generic drug prices in new salvo in price war

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Whose health plan offers the best savings for Americans? Forget the political candidates -- at the moment it might be CVS. The drug store chain is getting into the price war over generic drugs and is slashing prices and now customers can get a 90-day supply of more than 400 generic drugs for just $9.99, with more discount for those who pay cash at their in-store medical clinics.

The move comes as Wal-Mart (which charges $10 for a 90-day generic supply) and other drug stores continue to lower prices on generic drugs, a move that Wal-Mart originated several years ago. These stores see generic drugs as a lure for customers and they are willing to sell them at cost or at a loss in order to get loyal prescription business -- especially since those customers are also known for making many other purchases while they are picking up or waiting for their orders.

The Los Angeles Times also says that the discounted generics aren't the only sales tactic stores are using -- they are so hungry for prescription drug users that they are paying people to transfer their RXs -- up to $30 in some places.