CVS, one of the nations leading drug stores, announced they will no longer be selling tobacco products as of midnight of Sept. 2. CVS also made a change to their identification. Instead of being recognized as CVS Caremark Corp., they will be recognized as CVS Health.
CVS announced their plan to pull tobacco earlier this year on October 1. The company estimates that it will lose about $1.5 billon in annual tobacco sales. However, CVS corresponds this sacrifice with hopes of becoming a leading pharmacy of change. This would distinguish them from other major pharmacies across the nation, such as Rite-Aid and Walgreens. CVS also predicts to gain new business in other parts of the company, such as the pharmacy and basic health services departments.
“We believe this reflects our broader health care commitment,” said CEO Larry Merlo in an interview with the Chicago Tribune. According to CVSHealth.com, their newest slogan reads, “Our name has changed, but our purpose remains the same: helping people on their path to better health.”
Currently, CVS is leading the nation with 900 walk-in clinics, vaccination administrations and chronic illness treatments. The company is taking note of the landmark changes by reflecting their health care guarantee. CVS plans to use some of the space vacated by tobacco smoke with products to help smokers quit.
Walgreens issued a statement saying they will not pull tobacco from their shelves. However, they will focus on selling products to help smokers quit.
CVS ad on the ending of tobacco sales: