"a 'minimum price' law to 'protect mom-n-pops' from undercut competition."
They still do that with gasoline here in Wisconsin. Aside from the outrageous taxes we pay on a gallon of gas, they also have a "minimum markup law" that doesn't allow anyone to undercut their price per gallon and start a "gas war."
Probably a leftover from Jimmuh Carter. Worst. President. Ever.
Do the math. A pharmacist makes 80-100 K. That's $40-$50/hr. At $4 Wal-Mart makes $1-2/Rx max. That means a pharmacist has to fill 20-40 of these every hour just to cover their wages. That is unsafe! (Don't worry, they make it up in a big way on other Rx's)
As far as minimum markup laws, you seem to think they cost you. Study up & you'll learn what Wal-Mart is all about. Undercut & run the competition out of business, then they have a monopoly. That explains why they sold the same baby formula for around $10 in a city with a pharmacy & $20 in a city less than 10 miles away without one. (this came out in a court case in Arkansas 10-15 yrs ago) Which price do you think they intended to stay with if/when they ran the pharmacy out of business.