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CVS stops selling cigarettes, other tobacco products
September 3, 2014
CVS ended the sale of tobacco products at midnight Tuesday, a month earlier than planned, note widespread media reports.
The pharmaceutical retailer is forgoing about $2 billion in annual sales by getting rid of tobacco products.
The New York Times reports it is a strategic move as pharmacies nationwide compete for a share of the growing health-care industry:
"Rebranding itself as a company focused on health could prove lucrative for the drugstore as it seeks to appeal to medical partners that can help it bridge the gap between customers and their doctors.
"CVS already operates 900 walk-in medical clinics, or "minute clinics," where customers can get relatively simple services like blood pressure tests and flu vaccines. By dedicating space for these services, CVS and other major retailers like Walmart are diving into the pool of competitive health care dollars available for helping manage customers' illnesses.
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