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CVS No Longer Selling Cigarettes, Changes Name
CVS Caremark will no longer sell tobacco products in its stores, beginning today.
That's nearly a month ahead of the previously targeted date of October 1st.
To reflect this, the corporation will also have a new name: CVS Health.
Although retail stores will still be called CVS Pharmacy.
In a video statement on the company web site, CEO Larry Merlo said by eliminating the sale of cigarettes and tobacco products "we can make a difference in the health of all Americans."
In addition, CVS is also launching a campaign and program to help smokers quit.
The company has estimated the move could cost the chain about $2-billion in annual sales.
But that's a fraction of its revenue, which totaled $126-billion in 2013.
Much of the revenue comes from healthcare services such as walk-in clinics and prescription drug coverage.