CVS Pharmacy - Wikipedia, The Free Encyclopedia

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https://en.wikipedia.org/wiki/CVS_Pharmacy 1

CVS Pharmacy

A newer CVS Pharmacy storefront in St. Louis,

MissouriFormerly

calledConsumer Value Stores (1963-

1996)

Type Subsidiary

Industry Retail

Founded May 8, 1963

Lowell, Massachusetts, U.S.

Founders Stanley Goldstein

Sidney Goldstein

Ralph Hoagland

Headquarters 1 CVS Drive, Woonsocket, Rhode

Island, United States

Number of

locations7,600 stores (2014 estimate)

Area served Nationwide

Key people David W. Dorman

(Chairman)

Larry J. Merlo (CEO)

Revenue US$55.663 billion (2009)

Operating

income US$2.019 billion (2009)

Net income US$1.660 billion (2009)

Owner Melville Corporation (1922–96)

CVS Health (1996–present)

Number of

employees80,000 (2005)

cvs.com (http://cvs.com)

CVS PharmacyFrom Wikipedia, the free encyclopedia

CVS Pharmacy (styled as CVS/pharmacy or simplyCVS) is an American pharmacy retailer and currentlystands as the second largest pharmacy chain, after

Walgreens, in the United States,

[1]

with more than 7,600stores,[2] and is the second largest US pharmacy based on

total prescription revenue.[3] As the retail pharmacy

division of CVS Health, it ranks as the 12th largest

company in the world according to Fortune 500 in 2014. [4]

CVS Pharmacy's leading competitor Walgreens ranked37th.

CVS sells prescription drugs and a wide assortment of general merchandise, including over-the-counter drugs,

beauty products and cosmetics, film and photo finishingservices, seasonal merchandise, greeting cards, andconvenience foods through their CVS Pharmacy andLongs Drugs retail stores and online through CVS.com. Italso provides healthcare services through its more than

1,000 MinuteClinic medical clinics [5] as well as theirDiabetes Care Centers. Most of these clinics are locatedwithin CVS stores.

CVS is incorporated in Delaware, and is based in

Woonsocket, Rhode Island.[6] As of 2008, CVS Caremark

was the largest for-profit employer in Rhode Island.[6] Itwas founded on Merrimack Street in Lowell,Massachusetts, in 1963, under the name Consumer Value

Store.[7] It was founded by Sid Goldstein, StanleyGoldstein, and Ralph Hoagland, as a discount health andbeauty aid store. The first customers were required to bag

their own purchases.[8]

Contents

1 Overview2 Acquisitions and growth

2.1 1960s2.2 1970s2.3 1980s2.4 1990s

https://en.wikipedia.org/wiki/Melville_Corporationhttps://en.wikipedia.org/wiki/Massachusettshttps://en.wikipedia.org/wiki/United_Stateshttps://en.wikipedia.org/wiki/Subsidiaryhttps://en.wikipedia.org/wiki/St._Louis,_Missourihttps://en.wikipedia.org/wiki/St._Louis,_Missourihttps://en.wikipedia.org/wiki/St._Louis,_Missourihttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS_Pharmacy_Logo.svghttps://en.wikipedia.org/wiki/File:CVS_Pharmacy_Logo.svghttps://en.wikipedia.org/wiki/Earnings_before_interest_and_taxeshttps://en.wikipedia.org/wiki/Lowell,_Massachusettshttps://en.wikipedia.org/wiki/Lowell,_Massachusettshttps://en.wikipedia.org/wiki/Woonsocket,_Rhode_Islandhttps://en.wikipedia.org/wiki/Delaware_Corporationhttps://en.wikipedia.org/wiki/MinuteClinichttps://en.wikipedia.org/wiki/Longs_Drugshttps://en.wikipedia.org/wiki/Types_of_business_entityhttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/Walgreenshttps://en.wikipedia.org/wiki/Walgreenshttps://en.wikipedia.org/wiki/Walgreenshttps://en.wikipedia.org/wiki/Chain_storehttps://en.wikipedia.org/wiki/Lowell,_Massachusettshttps://en.wikipedia.org/wiki/Woonsocket,_Rhode_Islandhttps://en.wikipedia.org/wiki/Delaware_Corporationhttps://en.wikipedia.org/wiki/MinuteClinichttps://en.wikipedia.org/wiki/Longs_Drugshttps://en.wikipedia.org/wiki/Fortune_500https://en.wikipedia.org/wiki/CVS_Healthhttps://en.wikipedia.org/wiki/Walgreenshttps://en.wikipedia.org/wiki/Chain_storehttp://cvs.com/https://en.wikipedia.org/wiki/CVS_Healthhttps://en.wikipedia.org/wiki/Melville_Corporationhttps://en.wikipedia.org/wiki/United_States_dollarhttps://en.wikipedia.org/wiki/Net_incomehttps://en.wikipedia.org/wiki/United_States_dollarhttps://en.wikipedia.org/wiki/Earnings_before_interest_and_taxeshttps://en.wikipedia.org/wiki/United_States_dollarhttps://en.wikipedia.org/wiki/Chief_executive_officerhttps://en.wikipedia.org/wiki/Chairmanhttps://en.wikipedia.org/wiki/Woonsocket,_Rhode_Islandhttps://en.wikipedia.org/wiki/United_Stateshttps://en.wikipedia.org/wiki/Massachusettshttps://en.wikipedia.org/wiki/Lowell,_Massachusettshttps://en.wikipedia.org/wiki/Subsidiaryhttps://en.wikipedia.org/wiki/Types_of_business_entityhttps://en.wikipedia.org/wiki/St._Louis,_Missourihttps://en.wikipedia.org/wiki/File:CVS.jpghttps://en.wikipedia.org/wiki/File:CVS_Pharmacy_Logo.svg


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Website

A CVS Pharmacy on Canal Street in New

Orleans

2.5 2000s2.6 2010s2.7 Online

3 Environmental record4 Controversies

4.1 $2.25 million HIPAA Privacy Case4.2 Executives accused of bribing state

senator

4.3 Prescription errors4.4 Texas lawsuit over illegally dumpingpatient information

4.5 Cigarette sales4.6 Deceptive business practices4.7 Methamphetamine lawsuit4.8 DEA investigation into oxycodone

diversion4.9 Homeless man strangled for

shoplifting4.10 Racist receipt

4.11 CVS Rewards Program4.12 Homeopathy4.13 Apple Pay4.14 Security

5 References6 External links

Overview

CVS Pharmacy used to be a subsidiary of Melville Corporation,where its full name was initially Consumer Value Stores.Melville later changed its name to CVS Corporation in

1996[8][9] after Melville sold off many of its non-pharmacy

stores.[10] The last of its non-drugstore operations were sold in

1997.[8]

CEO Tom Ryan has said he now considers "CVS" to stand for

"Convenience, Value, and Service."[11]

During the company's days as a regional chain in the Northeast,many CVS stores did not include pharmacies. Today thecompany seldom builds new stores without pharmacies and outside of New England is gradually phasingout any such shops. Any new non-pharmacy store is usually built in a more urban setting where anotherCVS with a pharmacy exists within walking distance such as downtown Boston or Providence. These storeusually lack a pharmacy and a photo center but carry most of the general merchandise items that a normalCVS Pharmacy carries such as health and beauty items, sundries, and food items.

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A CVS Pharmacy (Store #6240) in

Southside Place, Texas (Greater Houston)

that was formerly an Eckerd.

A CVS Pharmacy, in Durham, North

Carolina.

Acquisitions and growth

1960s

The CVS name was used for the first time in 1964. That year,they had 17 retail locations, and 40 stores only five years

later.[12]

In 1967, CVS began operation of its first stores with pharmacydepartments, opening locations in Warwick and Cumberland,Rhode Island. CVS was acquired by the now-defunct MelvilleCorporation in 1969, boosting its growth.

1970s

In 1972, CVS acquired 84 Clinton Drug and Discount stores,which introduced CVS to Indiana and the Midwest. By 1974,

CVS had 232 stores and sales of $100 million. In 1977, CVS

acquired the 36-store New Jersey-based Mack Drug chain.[12]

By 1970, CVS operated 100 stores in New England and theNortheast.

1980s

The chain had more than 400 stores by 1981. Sales reached $1billion in 1985, partly due to the pharmacies being added to

many of CVS's older stores.[12]

In 1980, CVS became the 15th largest pharmacy chain in the U.S., with 408 stores and $414 million insales. In 1988, CVS celebrated its 25th anniversary, finishing the year with nearly 750 stores and sales of about $1.6 billion.

1990s

In 1990, CVS acquired the 490-store Peoples Drug chain from Imsco, which established the company in

new mid-Atlantic markets including Washington, D.C., Pennsylvania, Maryland, and Virginia. In 1994,CVS started PharmaCare Management Services. The parent company decided to focus on CVS in 1995,selling off Marshalls and This End Up. The following year, they let go of Footaction/Footstar, Meldisco,Linens 'n' Things, and Kay-Bee Toys, and the company changed its name from Melville Corporation to CVCorporation. In 1997, Bob's Stores were also sold, and CVS nearly tripled its 1,400 stores after purchasingthe 2,500-store Revco chain. CVS bought 200 Arbor Drugs locations in 1998, opened approximately 180new stores, closed about 160 stores, and relocated nearly 200 existing stores from strip malls to freestandinlocations. In 1999, CVS acquired Soma.com, the first online pharmacy, and renamed it CVS.com. The sam

year, CVS launched their CVS ProCare Pharmacy for complex drug therapies.[12]

https://en.wikipedia.org/wiki/Online_pharmacyhttps://en.wikipedia.org/wiki/Revcohttps://en.wikipedia.org/wiki/Peoples_Drughttps://en.wikipedia.org/wiki/New_Englandhttps://en.wikipedia.org/wiki/Melville_Corporationhttps://en.wikipedia.org/wiki/Rhode_Islandhttps://en.wikipedia.org/wiki/Cumberland,_Rhode_Islandhttps://en.wikipedia.org/wiki/Warwick,_Rhode_Islandhttps://en.wikipedia.org/wiki/Durham,_North_Carolinahttps://en.wikipedia.org/wiki/File:2008-08-04_CVS_Pharmacy_in_Durham.jpghttps://en.wikipedia.org/wiki/Eckerd_Corporationhttps://en.wikipedia.org/wiki/Greater_Houstonhttps://en.wikipedia.org/wiki/Southside_Place,_Texashttps://en.wikipedia.org/wiki/File:CVSFormerEckerds.JPG


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Alternative logo of CVS Pharmacy

In 1990, CVS bought the 23-store Rix Dunnington chain. In 1993, CVS withdrew from the southernCalifornia market. Formerly traded as MVL on the New York Stock Exchange, the company now trades asCVS.

2000s

CVS bought Stadtlander Pharmacy of Pittsburgh from Bergen Brunswig/AmerisourceBergen in 2000.[12][1

As of December 2009, CVS Caremark had over 7,000 locations.[14]

In 2004, CVS purchased 1,268 Eckerd drug stores and Eckerd Health Services, a PBM/mail-order pharmac

business, from J. C. Penney.[15] Most of the former Eckerd stores, which were converted to CVS stores byJune, are located in Florida, Texas, and other southern states. Because J. C. Penney credit cards wereaccepted at Eckerd locations, CVS continues to accept them as well.

On January 23, 2006, CVS announced that it had agreed to acquire the freestanding drug store operations o

supermarket chain Albertsons.[16] The deal included the acquisition of 700 drug stores trading under theOsco Drug and Sav-On Drugs banners, mostly in the midwestern and southwestern United States (with a

concentration of stores in southern California and the Chicago area), and was formally completed on June

2006.[17] Transition of Sav-On and Osco stores to the CVS brand was completed by December 2006. CVSnow dominates the southern California market. Also included were Albertsons Health'n'Home (now CVS

Home Health) durable medical equipment stores. Approximately 28 CVS Home Health locations are presein Arizona, California, and the Kansas City area, representing CVS's first venture into the specialized DMEmarket.CVS had previously operated stores in southern California, but completely withdrew from the market in1993. CVS sold virtually all of the locations to Sav-On's then owner American Stores, who operated themunder the name American Drug Stores. Many of the stores CVS gained in January 2006 had been the storeit owned prior to 1993. Before their re-acquisition, these stores were operated under the name Sav-OnExpress (the Express name was used to help customers identify these stores that did not carry all the lines omerchandise as compared to the larger, traditional Sav-On Drugs locations). CVS now operates over 6,200

stores in 43 states and the District of Columbia.[18] In some locations CVS now has two stores less than twblocks apart.

On July 13, 2006, CVS announced that it had entered into adefinitive agreement to acquire Minneapolis-based MinuteClinic, thepioneer and largest provider of retail-based health clinics in the U.S.MinuteClinic operates as a wholly owned subsidiary of CVS

Corporation. MinuteClinic health care centers are staffed by board-certified nurse practitioners and physician assistants who are trainedto diagnose and treat common family illnesses such as throat, ear,eye, sinus, bladder, and bronchial infections, and provideprescriptions when clinically appropriate. MinuteClinic also offerscommon vaccinations, such as flu shots, tetanus, and Hepatitis A &B. The clinics are supported by physicians who collaborate with the staff. There are over 550 locations

across the United States, most of which are within CVS Pharmacy locations.

https://en.wikipedia.org/wiki/MinuteClinichttps://en.wikipedia.org/wiki/District_of_Columbiahttps://en.wikipedia.org/wiki/American_Storeshttps://en.wikipedia.org/wiki/New_Albertsonshttps://en.wikipedia.org/wiki/Sav-On_Drugshttps://en.wikipedia.org/wiki/Osco_Drughttps://en.wikipedia.org/wiki/New_Albertsonshttps://en.wikipedia.org/wiki/Southern_United_Stateshttps://en.wikipedia.org/wiki/Texashttps://en.wikipedia.org/wiki/Floridahttps://en.wikipedia.org/wiki/J._C._Penneyhttps://en.wikipedia.org/wiki/Eckerd_Corporationhttps://en.wikipedia.org/wiki/New_York_Stock_Exchangehttps://en.wikipedia.org/wiki/File:CVS_Pharmacy_Alt_Logo.svg


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On November 1, 2006, CVS announced that it was entering into a purchase agreement with Nashville-baseCaremark Rx Inc., a pharmacy benefits manager. The new company is called CVS Caremark Corporationand the corporate headquarters remains in Woonsocket, Rhode Island. The new pharmacy services businessincluding the combined pharmacy benefits management (PBM), specialty pharmacy, and diseasemanagement businesses, is headquartered in Nashville, Tennessee. The new CVS Caremark Corporation isexpected to achieve about $75 billion in yearly revenue for 2007. The merger was formally completed on

March 22, 2007.[19] Tom Ryan, CVS's Chairman and CEO, remains president and CEO of the combined

company, while Caremark's President and CEO, Mac Crawford, is Chairman of the Board.[19]

On November 7, 2007, Mac Crawford stepped down as Chairman of the Board for CVS Caremark. He was

replaced by President and CEO of CVS Caremark, Tom Ryan.[20]

On August 12, 2008, CVS Pharmacy announced that it would acquire Longs Drugs for $2.9 billion.

Walgreens made a counteroffer, but dropped it. The deal closed October 30, 2008.[21][22]

2010s

In 2012, CVS Caremark received 59 percent of Rhode Island's tax credits.[23]

On July 14, 2014, it was announced that CVS Caremark would acquire the Miami-based Navarro DiscounPharmacies, when the deal closes, the 33 stores will remain untouched and will stay under the Navarro

name.[24]

On September 3, 2014, CVS Caremark changed its name to CVS Health, and announced that it would stop

selling tobacco products.[25]

On October 25, 2014, CVS Health disabled near field communication NFC payments barring customers thability to use Apple Pay or Google Wallet payment methods.[26]

On May 21, 2015, it was announced that CVS Health would acquire Omnicare, Inc.the leading provider ofpharmacy services to long term care facilities, for $98.00 per share in cash, for a total enterprise value of approximately $12.7 billion, which includes approximately $2.3 billion in debt. The transaction is expectedto close near the end of 2015.

On June 15, 2015, CVS Health announced its agreement to acquire Target’s pharmacy and retail clinicbusinesses. The deal expanded CVS to new markets in Seattle, Denver, Portland and Salt Lake City. The

acquisition includes more than 1,660 pharmacies in 47 states. CVS will operate them through a store-withia-store format. Target’s nearly 80 clinic locations will be rebranded as MinuteClinic, and CVS plans to ope

up to 20 new clinics in their stores within three years.[27]

Online

The domain cvs.com attracted at least 26 million visitors annually by 2008 according to a Compete.com

survey.[28]

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A CVS location (#7606) in Austin,

Texas, across from the University of

Texas at Austin

CVS no longer owns the soma.com domain name, which it acquired with the purchase of online drugstorepioneer Soma. The domain name now belongs to a lingerie retailer.

By 2004, all CVS stores were able to receive electronic prescriptions.[29]

Environmental record

In 2005, CVS participated in a program to reduce the pollution of Maine's waterways. CVS agreed to accepdrugs for disposal, so that people would not dispose of them in ways that reach rivers and other bodies of

waters.[30][31][32]

In 2013, CVS agreed to pay Connecticut $800,000 due to alleged mismanagement of hazardous waste. TheConnecticut Department of Energy and Environmental Protection agency found that CVS had improperly

identified, managed, and disposed of hazardous materials.[33]

Controversies

$2.25 million HIPAA Privacy Case

CVS was required to pay the United States government $2.25million in 2009 for violations of the Health Insurance Portability andAccountability Act of 1996 (HIPAA) Privacy Rule. The U.S.Department of Health and Human Services Office for Civil Rights(OCR) and the Federal Trade Commission (FTC) found that CVSdid not appropriately dispose of sensitive patient information or

provide the necessary training on disposal to their employees.[34]

Executives accused of bribing state senator

Former CVS executives John R. Kramer and Carlos Ortiz werecharged with bribery, conspiracy, and fraud (including mail fraud) bya federal grand jury for allegedly paying State Senator John A. Celona (D-RI) to act as a "consultant" for thcompany. Between February 2000 and September 2003, CVS paid Celona $1,000 a month, and he receivedtickets to golf outings and sporting events and compensation for travel to Florida and California. In Augus

2005, he pleaded guilty to mail fraud charges, and in January 2007, he was fined a record $130,000 by theRhode Island Ethics Committee. The investigation was led by the FBI and the Rhode Island State Police,and the case was prosecuted by Assistant U.S. Attorneys Gerard B. Sullivan and Dulce Donovan. Kramerand Ortiz were acquitted after a jury trial, in May 2008.

Prescription errors

During 2005, a rash of prescription mistakes came to light in some of CVS Corporation's Boston-areastores. An investigation confirmed 62 errors or quality problems going back to 2002. In February 2006, thestate Board of Pharmacy announced that the non-profit Institute of Safe Medication Practices (ISMP) woul

monitor all Massachusetts stores for the next two years.[35] Later, a 2007 segment on 20/20 accused CVS,

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A CVS store in West Hollywood,

California.

CVS Caremark has agreed to a $38.5 million settlement in a multi-state civil deceptive-practices lawsuit against pharmacy benefit manager Caremark filed by 28 attorneys general, the

Chicago Tribune reports.[46] The attorneys general, led by Lisa Madigan (D) of Illinois andDouglas Ganslar (D) of Maryland, allege that Caremark "engaged in deceptive business

practices" by informing physicians that patients or health plans could save money if patientswere switched to certain brand-name prescription drugs (Miller, Chicago Tribune, 2/14).[46]

However, the switch often saved patients and health plans only small amounts or increased theircosts, while increasing Caremark's profits, Connecticut Attorney General Richard Blumenthal

(D) said (Levick, Hartford Courant , 2/15).[47] Pennsylvania Attorney General Tom Corbett (R)said the PBM kept discounts and rebates that should have been passed on to employers and

patients (Levy, AP/San Francisco Chronicle, 2/14).[48] In addition, Caremark did not"adequately inform doctors" of the full financial effect of the switch and did not disclose that

the switch would increase Caremark's profits, the lawsuit alleges (Chicago Tribune, 2/14).[46]

...The settlement prohibits Caremark from requesting prescription drug switches in certaincases, such as when the cost to the patient would be higher with the new prescription drug;when the original prescription drug's patent will expire within six months; and when patientswere switched from a similar prescription drug within the previous two years ( Hartford

Courant , 2/15).[47] Patients also have the ability to decline a switch from the prescribedtreatment to the prescription offered by the pharmacy under the settlement, Madigan said

( Bloomberg News/Philadelphia Inquirer, 2/15).[49]

Methamphetamine lawsuit

On October 14, 2010, CVS was ordered to pay $77.6 million in fines and returned profits stemming from alawsuit alleging improper control in the sale of pseudoephedrine, an ingredient used to make

methamphetamine.[50]

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A CVS location in Macomb, Illinois,formerly an Osco.

DEA investigation into oxycodone diversion

According to the US Justice Department, last year CVS pharmaciesin Sanford, Florida ordered enough painkillers to supply a populationeight times its size. Sanford has a population of 53,000 but the

supply would support 400,000.[51] According to the DrugEnforcement Administration, in 2010 a single CVS pharmacy in

Sanford ordered 1.8 million Oxycodone pills, an average of 137,994pills a month. Other pharmacy customers in Florida averaged 5,364oxycodone pills a month. DEA investigators serving a warrant to aCVS pharmacy in Sanford on October 18, 2011 noted that "approximately every third car that came througthe drive-thru lane had prescriptions for oxycodone or hydrocodone." According to the DEA, a pharmacistat that location stated to investigators that "her customers often requested certain brands of oxycodone usinstreet slang," an indicator that the drugs were being diverted and not used for legitimate pain management.In response, CVS in a statement issued Feb 17 in response to opioid trafficking questions from USATODAsaid the company is committed to working with the DEA and had taken "significant actions to ensure

appropriate dispensing of painkillers in Florida."[52]

Homeless man strangled for shoplifting

On May 8, 2010, a homeless man named Anthony Kyser was strangled to death by a Chicago CVS storemanager after allegedly stealing toothpaste and crayons. Surveillance footage from an alleyway near thestore was captured which shows the alleged shoplifter being forced to the ground and killed by the storemanager, Pedro Villanova. Though the death was ruled a homicide by the Cook County Medical Examineroffice, no charges were filed against the manager, the authorities having ruled the incident an "accident." Ninvestigation was made into the off-duty county officer who was on scene, but did nothing to stop the attacU.S. Rep. Bobby Rush, who spoke out in 2010 against the way Kyser's death was handled, stated "... we

have video that shows emphatically that he was lying on the ground and some people strangled him, kickedhim and choked him and at the end of that episode he lay still, he was killed, right there on the spot." Thevideo shows a police officer arrived on the scene moments after the incident occurred; however, no first aidwas given to the victim. Kyser's parents filed a lawsuit claiming that the CVS manager assaulted andbattered their son and that the store is responsible for that manager's actions. The lawsuit, seeking $400,00

in damages, remains pending in Cook County Circuit Court.[53]

Racist receipt

In 2013, a Korean customer, Hyun Lee, was identified as "Ching Chong Lee" on her receipt from a CVS inNew Jersey. Lee contacted CVS and received an email response saying that the employee would be"counseled and trained." According to Lee's attorney, "[The employee] should have been terminatedimmediately. She never got an apology. She never got anything further after she complained." On April 16,

2013, Lee filed a federal discrimination lawsuit against CVS and is seeking $1 million.[54]

CVS Rewards Program

https://en.wikipedia.org/wiki/USATODAYhttps://en.wikipedia.org/wiki/Drug_Enforcement_Administrationhttps://en.wikipedia.org/wiki/Osco_Drughttps://en.wikipedia.org/wiki/Macomb,_Illinoishttps://en.wikipedia.org/wiki/File:Cvs1.jpg


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In 2013, CVS introduced a program that rewarded customers up to $50 per year in ExtraCare Bucks inexchange for filling their prescriptions. In order to enroll in the program, customers had to sign a HIPAAwaiver acknowledging, "my health information may potentially be re-disclosed and thus is no longerprotected by the federal Privacy Rule." Stores had to fulfill a quota of a number of customers in the programeach week. Walgreens and Rite Aid also offer rewards for filling prescriptions, although they do not requir

a signed HIPAA waiver.[55]

Homeopathy

On April 1, 2011, the James Randi Educational Foundation awarded CVS Pharmacy the tongue-in-cheek

Pigasus Award for selling homeopathic remedies alongside medicines recognized by science.[56]

Apple Pay

On October 25, 2014, CVS disabled NFC (near field communication) payments from the newly initiated

Apple Pay mobile payment system.[57] Apple Pay was officially launched on October 21, 2014, andfunctioned for the first few days after its launch, allowing CVS customers to make purchases securely usintheir iPhone 6 and iPhone 6 Plus. This followed the pharmacy chain Rite Aid to stop accepting payments vApple Pay two days prior. CVS had been working with other partners on a competing system, CurrentC thainvolves scanning a QR code instead of using an NFC chip. Full CurrentC functionality is not expected un2015 at the earliest.

Security

On July 17, 2015 CVS shut down its online photo processing services,[58] blaming a third party vendor,believed to be PNI Digital Media. According to reporters, CVS were unwilling to confirm or deny question

about whether hackers had stolen customer photographs as well as data.[59] The site was updated onSeptember 11, 2015 with more details of the attack. By the end of November 2015 the CVS photo websitewas restored, and customers may order photo services online again.

References

Notes

1. 2013 Top 100 Retailers. http://www.stores.org/2013/Top-100-Retailers. Retrieved on September 17, 2013.

2. Company History | CVS Health (http://info.cvshealth.com/our-company/history). Info.cvschealth.com. Retrieveon September 5, 2013.

3. The Top 50 Retail Pharmacies, according to Drug Store News. http://www.drugchannels.net/2013/04/the-top-50retail-pharmacies-according.html. Retrieved on September 17, 2013.

4. "Fortune 500". Fortune. Retrieved June 15, 2015.5. "Healthcare - The News Journal - delawareonline.com". The News Journal. Retrieved June 15, 2015.6. WPRI - CVS to lay off 150 people in Woonsocket, 300 nationwide (http://www.wpri.com/dpp/news/cvs-to-lay-

off-150-people-in-woonsocket). WPRI.com (October 28, 2010). Retrieved on September 5, 2013.7. Lowell - Did you know? — (http://www.lowellma.gov/depts/dpd/services/econdev/lowell-did-you-know).

Lowellma.gov. Retrieved on September 5, 2013.8. History of CVS Corporation – FundingUniverse (http://www.fundinguniverse.com/company-histories/cvs-

http://www.fundinguniverse.com/company-histories/cvs-corporation-history/http://www.lowellma.gov/depts/dpd/services/econdev/lowell-did-you-knowhttp://www.wpri.com/dpp/news/cvs-to-lay-off-150-people-in-woonsockethttp://www.delawareonline.com/article/20130217/BUSINESS13/302170017/Wal-Mart-medical-clinics-trail-CVShttp://fortune.com/fortune500/cvs-caremark-corporation-12/http://www.drugchannels.net/2013/04/the-top-50-retail-pharmacies-according.htmlhttp://info.cvshealth.com/our-company/historyhttp://www.stores.org/2013/Top-100-Retailershttps://en.wikipedia.org/wiki/PNI_Digital_Mediahttps://en.wikipedia.org/wiki/QR_codehttps://en.wikipedia.org/wiki/CurrentChttps://en.wikipedia.org/wiki/Rite_Aidhttps://en.wikipedia.org/wiki/Apple_Payhttps://en.wikipedia.org/wiki/Near_field_communicationhttps://en.wikipedia.org/wiki/Homeopathichttps://en.wikipedia.org/wiki/Pigasus_Awardhttps://en.wikipedia.org/wiki/James_Randi_Educational_Foundationhttps://en.wikipedia.org/wiki/April_Fool%27s_Day


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corporation-history/). Fundinguniverse.com. Retrieved on September 5, 2013.9. "CVS Caremark, Form 8-K, Current Report, Filing Date Jun 7, 1996". secdatabase.com. Retrieved March 29,

2013.10. "CVS Caremark, Form 8-K, Current Report, Filing Date Dec 6, 1996". secdatabase.com. Retrieved March 29,

2013.11. Berlinski, Peter (January–February 2006). "Ryan Preaches PL to CVS Team". Private Label Magazine. Retriev

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(http://www.hoovers.com/company/CVS_Caremark_Corporation/rfsxci-1-1njhxk.html). Hoovers.com (October

21, 2010). Retrieved on September 5, 2013.13. "CVS Caremark, Form 10-Q, Quarterly Report, Filing Date Nov 14, 2000". secdatabase.com. Retrieved

March 29, 2013.14. "CVS Caremark, Form 10-K, Annual Report, Filing Date Feb 26, 2010" (PDF). secdatabase.com. Retrieved

March 29, 2013.15. "CVS Caremark, Form 8-K, Current Report, Filing Date Apr 6, 2004" (PDF). secdatabase.com. Retrieved

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March 29, 2013.17. "CVS Caremark, Form 8-K/A, Filing Date Aug 8, 2006". secdatabase.com. Retrieved March 29, 2013.18. "CVS to Postpone Shareholder Meeting to Vote on Caremark Merger" (Press release). CVS Caremark. Retrieve

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Retrieved November 4, 2008.22. "CVS Caremark, Form 8-K, Current Report, Filing Date Oct 20, 2008". secdatabase.com. Retrieved March 29,

2013.23. PolitiFact Rhode Island | Gary Sasse says 90 percent of $35 million in tax credits went to CVS and two out-of-

state companies (http://www.politifact.com/rhode-island/statements/2013/feb/24/gary-sasse/gary-sasse-says-90

percent-35-million-tax-credits-/). Politifact.com. Retrieved on September 5, 2013.24. Miami Herald | CVS to buy Miami-based Navarro Discount Pharmacy

(http://www.miamiherald.com/2014/07/14/4236285/cvs-to-buy-miami-based-navarro.html). miamiherald.com.Retrieved on July 15, 2014 .

25. "CVS Changes Name, Announces Plan To Stop Selling Tobacco Products". CBS Local. CBS Local Media. 3September 2014. Retrieved 3 September 2014.

26. [1] (http://www.cnbc.com/id/102122848) CNBC. Retrieved on October 27, 201427. Dan Gould (2014-06-15). "CVS Health and Target Sign Agreement for CVS Health to Acquire, Rebrand and

Operate Target’s Pharmacies and Clinics". CVS Health. Retrieved 2015-06-15.28. cvs.com UVs for July 2013 | Compete (http://siteanalytics.compete.com/cvs.com?metric=uv).

Siteanalytics.compete.com (October 26, 2011). Retrieved on September 5, 2013.

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31. "CVS Pharmacy Plans Drug Collection for S. Portland, Maine(http://www.nerc.org/documents/bulletin/20050101.html#4)", NERC Email Bulletin, January 2005. RetrievedMay 16, 2008.

32. "Cleaning Up Medical Waste (http://www.erosioncontrol.com/mw_0606_cleaning.html)", MSW Management ,Elements 2007, Vol. 16, No. 4. Retrieved May 16, 2008

33. CVS Paying Connecticut $800,000 for Hazardous Waste Issues; Southbury Store Cited - Business - TheLitchfield County Times(http://www.countytimes.com/articles/2013/01/29/business/doc510840f9928ef331292133.txt). Countytimes.com(January 29, 2013). Retrieved on September 5, 2013.

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External links

Official website (http://www.cvs.com/)

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35. Rowland, Christopher (February 10, 2006). "CVS faces pharmacy reviews". Boston Globe. RetrievedFebruary 25, 2008.

36. "Drugstores Respond to '20/20'". The Blotter (ABC News). March 30, 2007. Retrieved February 25, 2008.37. "CVS accused of dumping Texas customers' records". AP/Dallas Morning News. April 17, 2007. Retrieved

February 25, 2008.38. Porretto, John (March 26, 2008). "CVS, Texas settle lawsuit over dumping customers' records". Boston Globe.

Retrieved July 30, 2010.39. "Tobacco-Free Pharmacies". Americans for Nonsmokers' Rights. Retrieved July 18, 2013.40. Rubenstein, Sarah (July 29, 2008). "Cigarette Sales in Drugstores Come Under Fire". The Wall Street Journal.

Retrieved April 16, 2011.41. Hussar, PhD, Daniel A. (March 1, 2009). "Pharmacy cigarette sales must end". Modern Medicine. Retrieved

April 16, 2011.42. Berkrot, Bill (November 14, 2007). "CVS wrestles with cigarette sales". Reuters. Retrieved April 16, 2011.43. "CVS stops selling cigarettes. Will competitors follow?". the Guardian. Retrieved June 15, 2015.44. Bruce Japsen (September 3, 2014). "CVS Stops Tobacco Sales Today, Changes Name To Reflect New Era".

Forbes. Retrieved June 15, 2015.45. "CVS Caremark Agrees To Pay $38.5M To Settle Allegations That It Did Not Pass on Rebates, Discounts to

Patients, Employers". Kaiser Daily Health Policy Report . Kaiser Family Foundation. February 15, 2008.Retrieved February 25, 2008.

46. Miller, James P. (February 14, 2008). "CVS Caremark settles deceptive-practices complaint for $38.5 million".Chicago Tribune. Retrieved February 25, 2008.

47. Levick, Diane (February 15, 2008). "Caremark Settles States' Probe". Hartford Courant . Retrieved February 252008.

48. Levy, Marc (February 14, 2008). "Caremark to pay $38M to settle drug-switching complaint". AP/San FranciscChronicle. Archived from the original on June 11, 2008. Retrieved February 25, 2008.

49. Harris, Andrew (February 15, 2008). "CVS to pay millions to settle drug-cost case". Bloomberg News/Philadelphia Inquirer. Retrieved February 25, 2008.

50. Ellis, Blake (October 14, 2010). "CVS to pay $77.6 million in meth case". CNN . Retrieved October 14, 2010.

51. Schoenberg, Tom (February 29, 2012). "Cardinal Health Blocked From Shipping Painkiller in Florida". Bloomberg.

52. "Most Popular E-mail Newsletter". USA Today. February 27, 2012.53. Anthony Kyser Death: Video Of Alleged CVS Shoplifter's Killing Prompts Call For New Probe

(http://www.huffingtonpost.com/2013/01/18/anthony-kyser-death-video_n_2506106.html). Huffington Post (January 18, 2013). Retrieved April 5, 2014.

54. Valiente, Alexa. "New Jersey Woman Sues CVS for $1M for Racist Receipt"(http://abcnews.go.com/blogs/headlines/2013/04/new-jersey-woman-sues-cvs-for-1m-for-racist-receipt/).abcnews.go.com. April 18, 2013. Retrieved April 18, 2013.

55. http://www.latimes.com/business/la-fi-lazarus-20130913,0,5994820,full.column. Retrieved September 14, 201356. Mestel, Rosie (April 1, 2011). "Dr. Oz, Andrew Wakefield and others, um, 'honored' by James Randi". Los

Angeles Times. Retrieved April 2, 2011.57. Paul Ausick, 24/7 Wall St. (October 26, 2014). "CVS follows Rite-Aid, shuts off Apple Pay". USA TODAY .Retrieved June 15, 2015.

58. because of hackers (http://www.usatoday.com/story/tech/2015/07/17/cvs-photo-hack-security-compromise-credcards/30292647/)

59. [2] (http://money.cnn.com/2015/07/17/technology/cvs-photo-hack/)

http://money.cnn.com/2015/07/17/technology/cvs-photo-hack/http://www.usatoday.com/story/tech/2015/07/17/cvs-photo-hack-security-compromise-credit-cards/30292647/http://www.usatoday.com/story/money/business/2014/10/26/cvs-follows-rite-aid-shuts-off-apple-pay/17959213/http://www.latimes.com/health/boostershots/la-heb-dr-oz-andrew-wakefield-james-randi-awards-20110401,0,3573991.storyhttp://www.latimes.com/business/la-fi-lazarus-20130913,0,5994820,full.columnhttp://abcnews.go.com/blogs/headlines/2013/04/new-jersey-woman-sues-cvs-for-1m-for-racist-receipt/http://www.huffingtonpost.com/2013/01/18/anthony-kyser-death-video_n_2506106.htmlhttp://www.usatoday.com/news/nation/story/2012-02-27/painkiller-abuse-DEA/53275844/1http://www.bloomberg.com/news/2012-02-29/cardinal-health-blocked-from-shipping-painkiller-in-florida-1-.htmlhttps://en.wikipedia.org/wiki/CNNhttp://money.cnn.com/2010/10/14/news/companies/cvs_meth/index.htm?hpt=T1https://en.wikipedia.org/wiki/Philadelphia_Inquirerhttps://en.wikipedia.org/wiki/Bloomberg_Newshttp://www.philly.com/philly/business/15659572.htmlhttp://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/02/14/state/n134614S07.DTLhttps://en.wikipedia.org/wiki/San_Francisco_Chroniclehttps://en.wikipedia.org/wiki/Associated_Presshttps://web.archive.org/web/20080611191514/http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/02/14/state/n134614S07.DTLhttps://en.wikipedia.org/wiki/Hartford_Couranthttp://www.courant.com/business/hc-caremark0215.artfeb15,0,3595370.storyhttps://en.wikipedia.org/wiki/Chicago_Tribunehttp://www.chicagotribune.com/business/chi--cvs-carmark-settlement-feb14,0,7852078.storyhttps://en.wikipedia.org/wiki/Kaiser_Family_Foundationhttp://www.kaisernetwork.org/daily_reports/rep_index.cfm?DR_ID=50454http://www.forbes.com/sites/brucejapsen/2014/09/03/cvs-stops-tobacco-sales-today-changes-name-to-reflect-new-era/http://www.theguardian.com/sustainable-business/cvs-cigarettes-health-walgreens-rite-aidhttps://en.wikipedia.org/wiki/Reutershttp://www.reuters.com/article/2007/11/14/us-cvs-wrestles-with-cigarette-sales-idUSHO48508920071114http://drugtopics.modernmedicine.com/drugtopics/Modern+Medicine+Now/Pharmacy-cigarette-sales-must-end/ArticleStandard/Article/detail/585685https://en.wikipedia.org/wiki/The_Wall_Street_Journalhttp://blogs.wsj.com/health/2008/07/29/cigarette-sales-in-drugstores-come-under-fire/http://www.no-smoke.org/learnmore.php?id=615http://www.boston.com/news/local/rhode_island/articles/2008/03/26/cvs_texas_settle_lawsuit_over_dumping_customers_records/https://en.wikipedia.org/wiki/The_Dallas_Morning_Newshttps://en.wikipedia.org/wiki/Associated_Presshttp://www.dallasnews.com/sharedcontent/dws/bus/stories/041807dnbuscvsrecords.185450c.htmlhttps://en.wikipedia.org/wiki/ABC_Newshttp://blogs.abcnews.com/theblotter/2007/03/drugstores_resp.htmlhttps://en.wikipedia.org/wiki/Boston_Globehttp://www.boston.com/business/healthcare/articles/2006/02/10/cvs_faces_pharmacy_reviews/http://www.hhs.gov/news/press/2009pres/02/20090218a.htmlhttp://www.cvs.com/


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