Copyright 2016 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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.