CVS will stop selling cigarettes and tobacco products nationwide.
The nation's second largest pharmacy chain says cigarettes and tobacco products have no place in a drugstore company that is trying to become more of a health-care provider. CVS Chief Executive Larry Merlo says the company is working to make its in-store clinics a convenient health-care alternative to long waits at the doctor's office. The vision is also to promote CVS pharmacists as counselors to help patients.
The chain estimates it will lose $2 billion in annual revenue from selling tobacco and other sundries. The change is expected to happen in October.