CVS plans to pull tobacco products from all stores by October 1, becoming the first US chain drugstore to stop selling cigarettes.
In a statement released Wednesday, CVS Caremark, the nation’s second-largest drugstore, announced plans to phase out cigarettes, cigars and chewing tobacco. The decision will comply with other states that have previously banned the sale of tobacco in pharmacies.
President Barack Obama released a statement supporting the decision of the chain. Obama says the decision is a “powerful example” and says the decision will help his administration’s efforts to reduce tobacco-related deaths and disease and bring down healthcare costs. First Lady Michelle Obama said in 2011 that Obama had finally kicked the habit.
CVS Caremark, which serves as the prescription benefits manager for the US government’s Medicare program, feels the bold move will strengthen its image and position as a healthcare provider. Anti-Tobacco groups previously petitioned against CVS for “causing smoking related diseases for which they also sell medicines.” Analysts report that the decline in cigarette sales and adult smoking rates contributed to the choice to drop the cigarettes from shelves.
“I think it will put pressure on other retailers who want to be in healthcare,” said CVS Caremark Chief Medical Officer Dr. Troyen Brennan.
Pulling cigarettes from shelves will put a small dent in their profits, cutting about $2 billion in revenue. Instead of cigarette sales, CVS will now turn its focus on programs that help smokers to quit.