CVS Caremark Will No Longer Sell Cigarettes, Other Tobacco Products

CVS Caremark Corporation (NYSE:CVS) has announced that its trademark CVS retail pharmacies will no longer stock tobacco products in a bid to improve its image as a health care provider, strengthen relationships with hospitals and other health care providers, and promote its in-house clinics, report Timothy W. Martin and Mike Esterl for The Wall Street Journal.

“Cigarettes have no place in an environment where health care is being delivered,” said CVS CEO Larry Merlo. “This is the right decision at the right time as we evolve from a drugstore into a health-care company.”

CVS Caremark to lose $2 billion, but gain credibility

CVS Caremark Corporation (NYSE:CVS) is giving up $2 billion in annual revenue,...