Company News: Wal-Mart expands low-cost drug lineup

Wal-Mart Stores Inc. is expanding its national $4 generic prescription drug program by about 10 percent, adding drugs for some new conditions.

The world’s largest retailer said Thursday it has added drugs covering glaucoma, attention deficit disorder, attention deficit hyperactivity disorder, fungal infections and acne.

Two prescription birth control drugs and one fertility drug were added at $9, reflecting a higher cost that the company said could not be brought down further.

The Bentonville, Ark.-based retailer launched the $4 generics program late last year as it pushed a variety of health and environmental initiatives to counter political pressure led by union groups over its labor practices, including health insurance.

“We have taken what we do best, working with suppliers, driving costs out of the supply chain and passing those savings to our customers. Now we’re applying that to health care,” chief operating officer Bill Simon said on a conference call for reporters and analysts.

The increase adds about 30 prescriptions, made up of 14 drugs in various doses, to a list of 331 prescriptions and 143 drug compounds sold under the first phase introduced last year.

“Mortgage finance company Freddie Mac on Thursday agreed to pay $50 million to settle Securities and Exchange Commission charges that it fraudulently misstated earnings over a four-year period.

Four former Freddie Mac executives settled negligent conduct charges by agreeing to pay a total of $515,000 in civil fines and to make restitution totaling $275,548. They are former president and chief operating officer David Glenn, ex-chief financial officer Vaughn Clarke, and former senior vice presidents Robert Dean and Nazir Dossani.

“Reversing course, Verizon Wireless on Thursday said it will allow an abortion rights group to use its mobile network for a sign-up text messaging program.

The announcement came a day after the Basking Ridge-based unit of Verizon Communications Inc. said it had denied a request by Naral Pro-Choice America for the program.

The program by Naral, based in Washington, D.C., lets people sign up to receive its text messages by punching in a message to a five-digit number. Known as “short codes,” the five-digit numbers have become a popular way to get updates on everything from sports to politics to entertainment news.