WAL-MART TO SELL GENERIC DRUGS FOR $4

The world's largest retailer plans to slash the prices of close to 300 generic drugs to $4 for a month's supply, in what is likely the biggest promotion ever to buy cheaper generic alternatives to brand drugs.

Wal-Mart said it is launching the program today in Tampa Bay, Fla., an area with a large population of senior citizens. Wal-Mart plans to expand the program throughout the entire state in January and will bring the program to as many states as possible next year, the company said in a statement.

Covered by the program are 291 generic medications, used to treat and manage conditions including allergies, cholesterol, high blood pressure and diabetes. Some antibiotics, antidepressants, antipsychotics and prescription vitamins are also included, but the program does not include all generics in each therapeutic category.

Both insured and uninsured customers can take advantage of the discount, which Wal-Mart said will help the nearly 2.7 million uninsured Florida residents who currently avoid filling prescriptions.