facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

PRESCRIPTIONS GM drops drugstore chain as provider



Published: Sat, February 12, 2005 @ 12:00 a.m.



About 10 percent of GM-covered households that fill prescriptions will need to find a new pharmacy.

DETROIT (AP) -- General Motors Corp. is dropping Walgreen Co. from its network of prescription drug providers, saying it feared the huge drugstore chain might sever ties with the world's biggest automaker over GM's policy of requiring mail-order purchases of some drugs.

But Walgreen said it had no plans to cut ties to GM and hoped to continue serving its employees.

GM has informed its 1.1 million employees, retirees and their spouses and dependents in the United States that effective March 1, they won't be able to fill prescriptions at Walgreen's 4,200-plus stores. The decision means about 10 percent of all GM-covered households that fill prescriptions will need to find a new participating retail pharmacy, the automaker said.

The automaker's prescription provider, New Jersey-based Medco Health Services, said in a letter to GM-covered enrollees that they could have prescriptions filled at chains such as those owned by CVS Corp. or Rite Aid Corp.

Mandatory mail orders

GM and Medco said they decided to cut ties with Walgreen out of concern it would stop doing business with GM, as it did last month with the state of Ohio. Walgreen, saying it disapproved of Ohio's mandatory mail-order program for some drugs, stopped accepting prescriptions from Ohio government employees on Jan. 1.

GM, Ford Motor Co., DaimlerChrysler AG and suppliers Visteon Corp. and Delphi Corp., last year adopted a mandatory mail-order program for maintenance medications such as cholesterol-lowering drugs.

Walgreen spokesman Michael Polzin said the Deerfield, Ill.-based chain dislikes mandatory mail programs, but that it did not intend to cut ties with GM.

"I think it sounds like GM is getting bad information on this matter," he said. "We hope we can continue filling prescriptions with GM."

Walgreen shares fell 68 cents to close at $42.81 in Friday trading on the New York Stock Exchange, while GM shares rose 46 cents to close at $37.14.




Comments

Use the comment form below to begin a discussion about this content.


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes | Pittsburgh International Airport