CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations and total prescription revenue.
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53 Facts About CVS Pharmacy
2.
The parent company of CVS Pharmacy's leading competitor ranked 19th for the same time period.
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3.
CVS Pharmacy used to be a subsidiary of Melville Corporation, where its full name was initially Consumer Value Stores.
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4.
These stores usually lack a pharmacy and a photo center but carry most of the general merchandise items that a normal CVS Pharmacy carries such as health and beauty items, sundries, and food items.
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5.
In 1967, CVS began operation of its first stores with pharmacy departments, opening locations in Warwick and Cumberland, Rhode Island.
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6.
CVS Pharmacy was acquired by the now-defunct Melville Corporation in 1969, boosting its growth.
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7.
In early 1972, CVS Pharmacy introduced America's first refillable plastic bottle with its CVS Pharmacy private-label shampoo.
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9.
In 1977, CVS Pharmacy acquired the 36-store New Jersey-based Mack Drug chain.
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10.
In 1980, CVS became the 15th largest pharmacy chain in the U S, with 408 stores and $414million in sales.
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11.
In 1988 CVS Pharmacy celebrated its 25th anniversary, finishing the year with nearly 750 stores and sales of about $1.
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12.
In 1990 CVS acquired the 490-store Peoples Drug chain from Imasco, which established the company in new mid-Atlantic markets including Washington, D C, Pennsylvania, Maryland, and Virginia.
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13.
CVS Pharmacy, then decided to change its name from Melville Corporation to CVS Corporation.
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14.
In 1997, Bob's Stores were sold, and CVS Pharmacy nearly tripled its 1, 400 stores after purchasing the 2, 500-store Revco chain.
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15.
CVS Pharmacy bought 200 Arbor Drugs locations in 1998, opened approximately 180 new stores, closed about 160 stores, and relocated nearly 200 existing stores from strip malls to freestanding locations.
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16.
On January 23, 2006, CVS Pharmacy announced that it had agreed to acquire the freestanding drug store operations of supermarket chain Albertsons.
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17.
CVS Pharmacy had previously operated stores in southern California but completely withdrew from the market in 1993.
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18.
CVS Pharmacy sold virtually all of the locations to Sav-On's then owner American Stores, who operated them under the name American Drug Stores.
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19.
Many of the stores CVS Pharmacy gained in January 2006 had been the stores it owned prior to 1993.
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20.
CVS Pharmacy now operates over 6, 200 stores in 43 states and the District of Columbia.
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21.
On July 13, 2006, CVS announced that it had entered into a definitive agreement to acquire Minneapolis-based MinuteClinic, the pioneer and largest provider of retail-based health clinics in the U S MinuteClinic operates as a wholly owned subsidiary of CVS Corporation.
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22.
On November 1, 2006, CVS announced that it was entering into a purchase agreement with Nashville-based Caremark Rx Inc, a pharmacy benefits manager.
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23.
CVS Pharmacy was replaced by president and CEO of CVS Caremark, Tom Ryan.
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24.
In 2012 CVS Pharmacy Caremark received 59 percent of Rhode Island's tax credits.
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25.
On September 3, 2014, CVS Pharmacy Caremark changed its name to CVS Pharmacy Health and announced that it would stop selling tobacco products.
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26.
On June 15, 2015, CVS Health announced its agreement to acquire Target Corporation's pharmacy and retail clinic businesses.
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27.
CVS Pharmacy started rebranding the pharmacies within the Target stores on February 3, 2016.
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28.
On October 10, 2018, CVS Pharmacy Health received approval from the United States Department of Justice to acquire Aetna, for $69billion.
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29.
CVS Pharmacy announced it would close 46 "underperforming stores" in 2019, and a further 22 in 2020, without disclosing their locations.
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30.
In November 2021, CVS Pharmacy announced it would be closing approximately 900 stores over the next 3 years due to declining sales in underperforming and failing stores.
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31.
In 2005 CVS Pharmacy participated in a program to reduce the pollution of Maine's waterways.
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32.
CVS Pharmacy agreed to accept drugs for disposal so that people would not dispose of them in ways that reach rivers and other bodies of waters.
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33.
In 2013 CVS Pharmacy agreed to pay Connecticut $800, 000 due to alleged mismanagement of hazardous waste.
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34.
The Connecticut Department of Energy and Environmental Protection agency found that CVS Pharmacy had improperly identified, managed, and disposed of hazardous materials.
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36.
The U S Department of Health and Human Services Office for Civil Rights and the Federal Trade Commission (FTC) found that CVS did not appropriately dispose of sensitive patient information or provide the necessary training on disposal to their employees.
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37.
Between February 2000 and September 2003, CVS Pharmacy paid Celona $1, 000 a month, and he received tickets to golf outings and sporting events and compensation for travel to Florida and California.
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38.
In February 2006 the state Board of CVS Pharmacy announced that the non-profit Institute of Safe Medication Practices would monitor all Massachusetts stores for the next two years.
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39.
CVS Pharmacy responded by claiming they had designed and invested millions of dollars in a comprehensive quality assurance program.
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40.
CVS Pharmacy was accused of breaking the state's 2005 Identity Theft Enforcement and Protection Act.
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41.
CVS Pharmacy settled by paying $315, 000 to the state and agreeing to overhaul its information security system.
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42.
CVS Pharmacy said the company would continue selling cigarettes, citing internal market research that concluded that ceasing cigarette sales would not change the consumer practice of purchasing them.
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43.
In February 2014, CVS Pharmacy announced that it would stop selling cigarettes and other tobacco products at its stores and that it was challenging other retailers to do the same.
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44.
On September 3, 2014, CVS Pharmacy officially stopped selling cigarettes in its stores.
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45.
In February 2008 CVS Pharmacy settled a large civil lawsuit for deceptive business practices.
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46.
Lee contacted CVS Pharmacy and received an email response saying that the employee would be "counseled and trained".
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47.
In 2013 CVS Pharmacy introduced a program that rewarded customers up to $50 per year in ExtraCare Bucks in exchange for filling their prescriptions.
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48.
On July 17, 2015, CVS Pharmacy shut down its online photo processing services, blaming a third-party vendor, believed to be PNI Digital Media.
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49.
CVS Pharmacy's said the pharmacist refused to return the prescription notes to her or to transfer the prescription to another pharmacy.
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50.
CVS Pharmacy's said she filed a complaint with CVS and received no acknowledgement of her complaint until she went public with the allegation three months later.
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51.
CVS Pharmacy has drawn ire for the length of its receipts, specifically receipts given to people who have signed up for their ExtraCare rewards program.
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52.
In 2020, Massachusetts CVS stores lost controlled substances at a rate several times higher than other pharmacy chains.
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53.
CVS Pharmacy was fined $5 million by the federal government in 2017 for controlled substance losses and other violations in California pharmacies, and $1.
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