Good news for CVS/pharmacy fans: You’ll soon have even more options for picking up your CVS prescriptions.
CVS announced today that it is buying Target’s pharmacy business for $1.9 billion. From the Wall Street Journal:
CVS Health Corp. on Monday said it is paying $1.9 billion to buy and run Target Corp.’s pharmacies and clinics, giving the drugstore chain about 1,700 more locations to offer its growing health-care services.
As part of the deal, Target’s pharmacies will be rebranded as CVS/pharmacy and operate as separate stores within a store, while Target’s nearly 80 clinics will be changed over to CVS’s MinuteClinic banner.
CVS had $139.4 billion in revenue last year and runs 7,800 drugstores, compared with Target’s $72.6 billion in sales and 1,795 stores.
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