CVS To Stop Selling Tobacco Products in Harlem

February 5, 2014

cvs pharmacy in harlemProps to CVS Pharmacy from Harlem to Hollywood for caring more about their customers’ health than billions of dollars!According to Business Week:

CVS Caremark (CVS:US), the largest provider of prescription drugs in the U.S., plans to stop selling cigarettes and tobacco-related products across the nation by Oct. 1 in an effort to support the health of its patients and customers.

 

CVS, operator of 7,600 pharmacy stores in the U.S., would be the first national pharmacy chain to take this step, the Woonsocket, Rhode Island-based company said in a statement today. The decision will cut annual revenue (CVS:US) by about $2 billion, equating to 17 cents a share, CVS said.

 

The move comes as public health officials try to educate about 42 million U.S. adult smokers about the dangers of the habit. Last month, a report from the acting U.S. Surgeon General, Boris Lushniak, criticized the “fraudulent campaigns” by cigarette companies, weaknesses in regulation and a rebound in smoking depicted in Hollywood films. The study, which came half a century after smoking was first linked to lung cancer, cited new evidence that common ailments such diabetes, arthritis and impotence can be linked to tobacco use. “Anytime a company puts public health and the long-term good ahead of short-term profit, it’s sort of an eye opener,” Ross Muken, a New York-based analyst at ISI Group, said in a phone interview today.

 

The impact for 2014 earnings per share for will be 6 cents to 9 cents following the change, CVS said. The company has identified “incremental opportunities” to offset the profitability impact, according to the statement.

Discuss, do you think it’s a good idea or do you think adults should be able to choose what they want or do not want?

Cigarette
Cigarette (Photo credits: www.mydoorsign.com)


By submitting this form, you are consenting to receive marketing emails from: Harlem World Magazine, 2521 1/2 west 42nd street, Los Angeles, CA, 90008, https://www.harlemworldmagazine.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
We're your source for local coverage, we count on your support. SPONSOR US!
Your support is crucial in maintaining a healthy democracy and quality journalism. With your contribution, we can continue to provide engaging news and free access to all.
accepted credit cards

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles