Healthcare Reform: Walgreens Worried Over Possibility Of New Laws

footnoted.org:

With the news yesterday that some form of the public option for healthcare appears to be moving forward, we can probably expect more companies to start including warnings like Walgreen (WAG) did in the 10-K it filed yesterday:

Read the whole story: footnoted.org

Comments

[phylliscooper1]

12:33 AM on 10/29/2009

Their customer service is bad. Usually a 1 to 2 hour wait to fill a prescription and one person behind the counter to check out a line of customers. Much better to take your business to a small locally owned pharmacy if you are sick or have other things to do.

[maxfax]

11:46 PM on 10/28/2009

They're attacking additional regulation? What do they think, people are stupid, of course the public will not tolerate less regulation particularly since we've witnessed how well lack of regulation worked for the banking instituions. Right, sure. LMAO

[Trickywoo]

09:38 PM on 10/28/2009

I'm very lucky! I have a mom-and-pop, old-fashioned, noncorporate pharmacy two blocks from my house that gets my prescription business. So I don't have to care whether Walgreen's likes the proposed legislation or not. I don't buy anything except pharmaceuticals from the pharmacy. Face it: Walgreens, CVS, etc., are more like big ol' convenience shops instead of pharmacies. Why buy groceries from the drugstore at highly inflated prices? Buy your groceries at the grocer's!

Buy local, no matter what you think of health care reform. Seek out your local independent businesses and reward them, not Walgreen's, if it's at all possible for you to do so.

[tomgeo]

12:42 AM on 11/03/2009

there is nothing wrong with mom and pop pharmacies. But if you think about why there are less of them, you can blame insurance companies, and the low re-imbursement rates on prescriptions. With a public option, this will actually cause more medications to be regulates at pricing levels which would impact the mom and pop pharmacies before it affecta CVS or Walgreens. If you like you independent pharmacy, you should ask them what they think about goverment prescription plans next time you stop in.

[pissedmichael]

02:53 PM on 10/28/2009

I love how the big companies keep trying to portray themselves as the little guys, as just like us. Whenever I see phrases like 'big government' and, 'the government is taking over. . .(whatever),' I am 100% assured that it's a large corporation doing the talking.
Come on. You're not even real people. Your commitment is to the bottom line and shareholders, and you have no interest in the betterment of the health of your customers.

[tomgeo]

12:44 AM on 11/03/2009

I hope you do not own any stocks in any companies. Because if you do, this statement is pretty ironic.

[vandegrasse]

02:49 PM on 10/28/2009

Walgreens did an awful thing to me once. I accidentally wrote them a check from an account that had just been closed. Well instead of calling me they filed a warrant for my arrest with sheriff's department. Companies can do that in Texas. Well I didn't shop at Walgreens for 10 years! But i did accidentally spill some of their shampoo!

[Democratuser]

02:08 PM on 10/28/2009

hat tip to http://financeopinionss.blogspot.com

lets get unemployment benefit extension passed

[balancedsolution]

02:05 PM on 10/28/2009

Where I live there are 3 big named pharmacies within a block of each other.

Tell me there's no profit in pharmaceuticals.

But there are also 3 big named fast food restaurants too....

Tell me there's no correlation between the two?

YUCK to both!

[unitron]

06:35 PM on 10/28/2009

The correlation is that there's also money to be made in fast food. : - )

[StephenDedalus82]

11:02 AM on 10/28/2009

Whatever happens, Wallgreens can continue to rape its customers on paper towels and dish soap.

[Sam1234567]

11:44 AM on 10/28/2009

Let me guess every company is Evil. Do you get that companies are in business to profit?

[vandegrasse]

02:50 PM on 10/28/2009

Capitalisti. Rand worshipper!

[fcsakes]

10:40 AM on 10/28/2009

There will always be a surprising number of people who like to pay more for things, those would be the people who stay with places like Bank of America, Citibank, etc., who prefer to pay retail for their designer clothes, and spend tons of money on a big white plate with a third of a chicken leg, two pieces of radicchio, and some drizzled gravy.

Those are the people who flock to places like Walgreens and beg to be robbed blind...you know, the people who hate the idea of single payer health care because dumping 30% of their health care dollars on for-profit insurance ghouls is their idea of "freedom."

[jalowe1957]

07:59 AM on 10/28/2009

Why get your prescriptions filled at a Walgreen's when you can get a simple generic prescription filled for a mere four bucks at a Target or Wal-Mart?

What Walgreen's fears is competition and possible price controls, which may impact their bottom line.

[vandegrasse]

02:51 PM on 10/28/2009

Target's nice. I like their nice red bottles.

[drumz]

03:34 PM on 10/28/2009

never shop at wal-mart. Costco is great and they pay their employees a decent wage.

[vippy]

07:42 AM on 10/28/2009

There is this commercial on TV now, a wonderful drug, forget the name, but it makes you feel good,
like falling in love all over again, etc, etc. Imagine, we all need that now, and we won't see what is happening to our country, we don't see the unemployment, the homeless, etc. what a wonderful thing LOLOLOLOL. Put our country on this drug!!!!

[pjlowry]

03:49 AM on 10/28/2009

More people with coverage under public option means more prescriptions. This means more people coming over to get those drugs from these places. What part of that would they have a problem with?

[Viper]

05:58 AM on 10/28/2009

The part where we Americans pay 3-5 times more for the same drug than in the rest of the world where the government sets the price the drug will cost ( its really not a free market world inspite of Repugs claiming it to be)_

If we are not to go bankrupt and be able to compete with other countries whose cost is less... then we will have to do what our competiotors do... and drug praces will drop by more than 50-75%..


regards

[oonamanoona]

09:00 AM on 10/28/2009

The article explains it quite clearly. They are afraid the Feds will make changes to pharmacy reimbursement rates, "Now Walgreen’s warning is particularly interesting because in the 10-K, they note that prescriptions account for 65% of their sales and that 95% of those were reimbursed by third parties."

[truthmatterstoo]

02:29 AM on 10/28/2009

We need to see the companies for exactly what they are: making money off dy.ing people and will do anything to keep that gravy train flowing even at the dea.ths of thousands more. American companies have become soul less.

I 'll never step foot into another Walgreens.

[tomgeo]

12:28 AM on 11/03/2009

I think you are confusing pharmaceutical companies that actually invent the drugs with community pharmacies who actually provide the medication directly to the patient. And in any case, I hope you are not suggesting there is some cure to all of these disease states that is available, but not profitable. If there was, you are suggesting that every healthcare professional is in on some huge conspiracy to let people die. People are trying to get the cure, it isn;t that easy. In the mean time, they come up with the best product they can to extend your life. the pharmacies just happen to be the people who carry them in stock. The pharmacists are there to help make sure you take your medication safely.

[ChelseaC]

01:59 AM on 10/28/2009

I will NOT shop at Walgreens!
F 'em.

[truthmatterstoo]

02:30 AM on 10/28/2009

boycott Walgreens.

[Siebenstein]

06:42 AM on 10/28/2009

Me neither !

[unwashedmasses]

10:55 PM on 10/27/2009

Actually, Walgreens is pretty good at shafting members of its "W CLUB" who are clients w/o health insurance/drug coverage.
After signing up last July, and paying my $20 fee, the miraculous prices started to disappear, and I asked for my money back.

Supposedly, you pay $20 (you HAVE to ask for a refund in 30 days), and the FIRST time they give you 3 months of drugs (generic) at an agreed on price as promised, but don't try to refill them. I've never seen so many reasons why NOT even from the IRS.

They are liars just as some of the crooks in Congress.

That's why we have to get health care out of the business of making money. We're not in a position to bargain when we aren't well, and they take advantage of it.

IT IS U.S.ury, plain and simple.