Wal-Mart to enter Far East

Wal-Mart Stores Inc. will sell its products in the Far East through Japan's Ito-Yokado Co. Ltd. supermarkets and Yaohan International Co. Ltd.'s department stores, spokesmen for the Japanese firms said yesterday.

An Ito-Yokado spokesman said Wal-Mart, the largest U.S. retailer, will be allowed to offer its low-priced products to Ito-Yokado for sale in Japan in return for supplying management know-how.

Sandoz offers cheaper drug

Sandoz Pharmaceuticals Corp. yesterday introduced a new cholesterol-reducing drug that will sell for half the price of similar medications, putting pressure on competitors to cut their prices.

Merck & Co. and Bristol-Myers Squibb Co. would not discuss how they will respond to competition from Sandoz's synthetic Lescol. Officials said there's plenty of room in the $1.7 billion market for another player.