CVS Pharmacy

Retailer / private label

A United States retail pharmacy brand combining prescription services, health and beauty products, convenience merchandise, and walk-in healthcare.

Last updated November 4, 2026

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Overview

CVS Pharmacy is the retail pharmacy brand of CVS Health and one of the largest pharmacy chains in the United States. The business began in Lowell, Massachusetts, in 1963 under the name Consumer Value Stores. Its early stores were discount-oriented retail locations, and many initially operated without pharmacies. The first CVS stores with pharmacy departments opened in Rhode Island in 1967. The chain expanded through a combination of organic growth and acquisitions, first across New England and the Northeast and later throughout the United States. CVS was owned by Melville Corporation from 1969 until the corporate restructuring that created CVS Corporation in the 1990s. Melville progressively sold its non-pharmacy businesses, changed its name to CVS Corporation in 1996, and completed the separation of the remaining non-pharmacy operations in 1997. CVS then used acquisitions to establish a national footprint, including Peoples Drug in 1990, Revco in 1997, Arbor Drugs in 1998, Eckerd stores in 2004, Albertsons' Osco and Sav-On pharmacies in 2006, and Longs Drugs in 2008. These transactions expanded the brand into the Mid-Atlantic, Midwest, Southwest, California, and Hawaii markets. The retail proposition includes prescription dispensing, prescription refills and delivery, over-the-counter medicines, vitamins, personal care, cosmetics, convenience foods, seasonal merchandise, greeting cards, and selected photo-related services. CVS also operates private-label products and sells through CVS.com. Its stores vary by market: most newer locations include a pharmacy, while some urban stores without pharmacy counters remain focused on health, beauty, and convenience merchandise. CVS increasingly positions itself as a community healthcare destination rather than only a drugstore. MinuteClinic walk-in centers provide treatment for a range of common illnesses and preventive services, including vaccinations, with care delivered by nurse practitioners and physician assistants supported by collaborating physicians. The brand has also been associated with diabetes-care services, prescription delivery, electronic prescriptions, specialty and complex-therapy support, and pharmacy services offered through store-within-a-store arrangements in Target locations. The brand's parent-company structure broadened substantially after CVS combined with Caremark in 2007, creating CVS Caremark, and later adopted the CVS Health name in 2014. CVS Health subsequently acquired Aetna, strengthening the connection between retail pharmacy, pharmacy-benefit management, insurance, and healthcare delivery. CVS Pharmacy has also created targeted formats such as CVS Pharmacy y más for Hispanic shoppers and has retained the Navarro name after acquiring Navarro Discount Pharmacies. Recent strategy has included rationalizing the store estate, closing underperforming locations, reducing or changing certain Target pharmacy locations, and expanding testing and vaccination capabilities. CVS stopped selling tobacco products in 2014, a decision that reinforced its health-oriented positioning. The retail business remains United States-focused and operates alongside CVS Health's broader pharmacy-services, insurance, and healthcare businesses.

History

CVS began in 1963 in Lowell, Massachusetts, as Consumer Value Stores. The CVS name first appeared in 1964, when the chain had 17 locations. By 1969 it had grown to approximately 40 stores and was acquired by Melville Corporation. The first CVS locations with pharmacy departments opened in Warwick and Cumberland, Rhode Island, in 1967. The company reached roughly 100 stores in the New England and Northeast markets by 1970. During the 1970s and 1980s CVS expanded through acquisitions and store growth. In 1972 it acquired 84 Clinton Drug and Discount Stores, entering Indiana and other Midwestern markets, and introduced a refillable private-label shampoo bottle. The company acquired the 36-store Mack Drug chain in 1977. By 1981 CVS had more than 400 stores, and pharmacy departments became increasingly central to the format. Sales reached approximately $1 billion in 1985, while the chain had nearly 750 stores and approximately $1.6 billion in sales in its 25th-anniversary year, 1988. The 1990 acquisition of the 490-store Peoples Drug chain expanded CVS into Washington, D.C., Pennsylvania, Maryland, and Virginia. CVS also acquired the smaller Rix Dunnington chain. The company withdrew from Southern California in 1993, but later returned through subsequent acquisitions. In 1994 it established PharmaCare Management Services. Melville then divested most non-pharmacy holdings and changed its name to CVS Corporation in 1996. CVS acquired the approximately 2,500-store Revco chain in 1997, greatly increasing its scale, and purchased Arbor Drugs locations in 1998. In 1999 it acquired Soma.com, described as an early online pharmacy, and relaunched it as CVS.com. It also introduced ProCare Pharmacy for complex medication therapies. The national expansion continued in the twenty-first century. In 2004 CVS acquired 1,268 Eckerd drugstores and Eckerd's health-services operations from JCPenney. In 2006 it purchased Albertsons' stand-alone Osco and Sav-On pharmacy operations, together with related durable medical equipment stores. That year CVS also agreed to acquire MinuteClinic, bringing retail-based walk-in healthcare into the CVS structure. The Caremark transaction, announced in 2006 and completed in 2007, combined CVS with a pharmacy-benefit manager and created CVS Caremark. Tom Ryan remained chief executive, while Mac Crawford became chairman before stepping down later in 2007. CVS acquired Longs Drugs in 2008 for approximately $2.9 billion, rebranding most Longs locations outside Hawaii as CVS Pharmacy by 2009. The company acquired Navarro Discount Pharmacies in 2014 while retaining the Navarro name, and in the same year CVS Health stopped selling tobacco. In 2015 it introduced CVS Pharmacy y más, a format intended to serve Hispanic shoppers, and agreed to acquire Target's pharmacy and clinic operations. Target pharmacies were converted to CVS-operated locations and Target clinics were rebranded MinuteClinic beginning in 2016. CVS Health announced its agreement to acquire Aetna in 2017 and received United States Department of Justice approval in 2018. The transaction reinforced the parent company's integrated pharmacy, insurance, benefits-management, and healthcare strategy. CVS also used its retail network for public-health activity, including expanded COVID-19 testing in 2020 through a partnership involving New York State. In the late 2010s and 2020s the company emphasized portfolio management and store-network rationalization. It announced closures of underperforming stores in 2019 and 2020, followed by a plan to close approximately 900 stores over three years in 2021. In 2024 it announced the sale of its Puerto Rico stores and changes affecting some pharmacies inside Target locations. David Joyner, previously associated with Caremark, replaced Karen Lynch as CVS Health chief executive in October 2024. CVS Pharmacy announced a further acquisition of selected Rite Aid and Bartell Drugs sites in 2025 after those businesses entered bankruptcy. The brand's current identity combines a national retail pharmacy network with online fulfillment, loyalty services, walk-in clinics, and the wider healthcare capabilities of CVS Health.

2021
900-store closure plan announced
[1]CVS Pharmacyen.wikipedia.org
CVS announced a multi-year plan to close approximately 900 stores.
2020
COVID-19 testing expanded
[1]CVS Pharmacyen.wikipedia.org
CVS expanded testing capacity through its pharmacy network and public-sector partnerships.
2016
Target pharmacy conversion began
[1]CVS Pharmacyen.wikipedia.org
Pharmacies acquired from Target began operating under CVS branding and Target clinics became MinuteClinic locations.
2014
Tobacco sales discontinued
[1]CVS Pharmacyen.wikipedia.org
CVS Health stopped selling tobacco products as part of a health-focused repositioning.
2008
Longs Drugs acquired
[1]CVS Pharmacyen.wikipedia.org
CVS agreed to acquire Longs Drugs and subsequently rebranded most mainland locations.
2007
CVS Caremark merger completed
[1]CVS Pharmacyen.wikipedia.org
The combination with Caremark created an integrated retail-pharmacy and pharmacy-benefit-management company.
2006
MinuteClinic acquisition announced
[1]CVS Pharmacyen.wikipedia.org
CVS agreed to acquire MinuteClinic, adding retail-based walk-in medical care.
1999
CVS.com launched
[1]CVS Pharmacyen.wikipedia.org
CVS acquired Soma.com and developed it into CVS.com, expanding the brand's online pharmacy presence.
1997
Revco acquired
[1]CVS Pharmacyen.wikipedia.org
CVS acquired the Revco chain, substantially increasing its store base.
1996
Melville became CVS Corporation
[1]CVS Pharmacyen.wikipedia.org
After selling most non-pharmacy businesses, Melville changed its corporate name to CVS Corporation.
1990
Peoples Drug acquired
[1]CVS Pharmacyen.wikipedia.org
The acquisition established CVS in several Mid-Atlantic markets.
1969
Acquired by Melville Corporation
[1]CVS Pharmacyen.wikipedia.org
Melville Corporation acquired CVS and supported its subsequent regional expansion.
1967
First pharmacy departments opened
[1]CVS Pharmacyen.wikipedia.org
CVS opened its first stores with pharmacy departments in Warwick and Cumberland, Rhode Island.
1964
CVS name introduced
[1]CVS Pharmacyen.wikipedia.org
The CVS name was first used as the chain expanded beyond its initial stores.
1963
Consumer Value Stores founded
[1]CVS Pharmacyen.wikipedia.org
The business began in Lowell, Massachusetts, as Consumer Value Stores.

Products and positioning

A convenient community health and retail destination combining pharmacy access, everyday health products, beauty and convenience merchandise, and walk-in care.

Pharmacy services · 1967
Prescription pharmacy
The core CVS Pharmacy offering includes prescription dispensing, refills, electronic prescription processing, medication delivery, and related support. Stores also provide access to specialty and complex-therapy services through the wider CVS Health organization.
Retail healthcare · 2006
MinuteClinic
MinuteClinic is CVS's walk-in healthcare format. Its clinics provide evaluation and treatment for selected common illnesses, preventive services, and vaccinations, with care delivered by nurse practitioners and physician assistants and supported by collaborating physicians.
E-commerce and pharmacy · 1999
CVS.com
CVS.com is the brand's online channel for pharmacy services and a broad assortment of health, beauty, personal-care, and convenience products. It developed from the 1999 acquisition of Soma.com.
Loyalty program · 2001
ExtraCare
ExtraCare is CVS's customer loyalty and promotional program. It provides member pricing, personalized offers, and store-credit mechanisms such as ExtraCare Bucks for eligible purchases and activities.
Retail format · 2015
CVS Pharmacy y más
CVS Pharmacy y más is a CVS retail format created to appeal particularly to Hispanic shoppers. The format was first launched in Florida in 2015 and was subsequently associated with additional United States markets and Puerto Rico.

Controversies

2026
CVS agrees to $315 million opioid prescriptions settlement
CVS Pharmacy Inc. and related corporate entities agreed to pay $315 million to resolve allegations concerning opioid and other controlled-substance prescriptions and claims submitted to federal healthcare programs. The settlement also includes an agreement with the DEA requiring CVS to establish a reporting hotline and monitoring and prescriber-review processes. The claims resolved are allegations only, and no liability determination has been made.
Source
2021
Lawsuit alleges injury from CVS Health Peas
A Connecticut resident filed a lawsuit against CVS Pharmacy alleging that CVS Health Peas ruptured after being microwaved as directed, spilling heated contents and causing burns. The filing alleges product negligence and inadequate or misleading instructions. These are allegations made in the lawsuit and not a court finding.
Source
2019
CVS Pharmacy suspends sales of Zantac and ranitidine products
CVS Pharmacy said it suspended sales of Zantac-brand and CVS Health-brand ranitidine products until further notice. The suspension followed an FDA alert that ranitidine products may contain a possible human carcinogen. According to the source, the products had not been recalled, and the FDA was not recommending that patients stop taking them.
Source
2019
California announces $3.6 million enforcement action against CVS Pharmacy
California's CalRecycle announced a $3.6 million enforcement action against CVS Pharmacy, alleging that 81 of its 848 retail stores in the state failed to offer California Redemption Value for recyclable bottles and cans.
Source
2013
Connecticut hazardous-waste case
The Connecticut Department of Energy and Environmental Protection alleged that CVS had improperly identified, managed, and disposed of hazardous materials. CVS agreed to pay $800,000 in connection with the matter.
Source

2020COVID-19 testing expansion
United States
CVS used its retail pharmacy network to expand COVID-19 testing and announced a partnership involving more than 60 New York pharmacies. The initiative was part of a larger effort to increase monthly testing capacity.
Outcome. CVS expanded testing through selected pharmacies and public-health partnerships.
Source
2014Tobacco-free CVS
United States
CVS ended tobacco sales across its stores and connected the decision to a broader health-oriented identity. The move differentiated the pharmacy chain from conventional convenience-led drugstore retailing.
Outcome. Tobacco products were removed from CVS stores.
Source

Brand decisions

2021
Store-network rationalizationStrategy
Background
CVS cited declining sales and changes in consumer behavior when reviewing its physical retail footprint.
Action taken
The company announced plans to close approximately 900 stores over three years.
Aftermath
The announcement signaled a shift toward a smaller and more selectively located store network.
Source
2015
Target pharmacy and clinic acquisitionM&A
Background
CVS sought to enter additional markets and operate pharmacies and clinics located inside Target stores.
Action taken
CVS agreed to acquire Target's pharmacy and retail-clinic businesses and began converting them to CVS Pharmacy and MinuteClinic formats in 2016.
Aftermath
The transaction added more than 1,660 pharmacies and expanded CVS's store-within-a-store presence.
Source
2014
Withdrawal from tobacco retailingStrategy
Background
CVS wanted its retail identity to align more closely with healthcare and disease prevention.
Action taken
CVS Health removed tobacco products from its stores and changed its corporate name from CVS Caremark to CVS Health.
Aftermath
The decision became a defining element of CVS's health-centered positioning.
Source
2006
Caremark transactionM&A
Background
CVS sought to combine retail pharmacy operations with pharmacy-benefit management, specialty pharmacy, and disease-management capabilities.
Action taken
CVS entered an agreement to acquire Caremark Rx; the merger was completed in March 2007 and produced CVS Caremark.
Aftermath
The combined company broadened CVS's healthcare-services platform beyond retail stores.
Source

Recent events

2026.11.04
Reported2026.11.04
CVS Health announces planned separation of its retail pharmacy business[8]CVS Health宣布计划分拆零售药房业务cnbc.com
CVS Health announced a plan to split into two publicly traded companies by the first half of 2028, separating its retail pharmacies from its insurance and pharmacy benefit management businesses. The insurance and PBM company would retain the CVS Health name, while the retail pharmacy company would be called CVS Pharmacy.
2026.10.17
Reported2026.10.17
CVS agrees to $315 million opioid prescriptions settlement[5]CVS agrees to $315 million opioid prescriptions settlementmauinow.com
CVS Pharmacy Inc. and related corporate entities agreed to pay $315 million to resolve allegations concerning opioid and other controlled-substance prescriptions and claims submitted to federal healthcare programs. The settlement also includes an agreement with the DEA requiring CVS to establish a reporting hotline and monitoring and prescriber-review processes. The claims resolved are allegations only, and no liability determination has been made.
2022.02.22
Reported2022.02.22
CVS Pharmacy and Michael Graves Design launch home health care product line[9]CVS Pharmacy 与 Michael Graves Design 推出家庭医疗护理产品系列archinect.com
CVS Pharmacy and Michael Graves Design introduced a direct-to-market line of home health care products. The initial products focus on bathroom safety and mobility aids, and all six designs are available in stores and online.
2021.09.16
Reported2021.09.17
CVS sues Capital RX over non-compete agreement[10]CVS 就竞业限制协议起诉 Capital RXlawstreetmedia.com
CVS Pharmacy and pharmacist Suresh Yarlagadda filed a complaint against Capital RX in Massachusetts over Capital RX's alleged effort to enforce a non-compete agreement. CVS argues that the agreement is invalid under Massachusetts statutory requirements.
2021.06.23
Reported2021.06.24
Lawsuit alleges injury from CVS Health Peas[6]Lawsuit alleges injury from CVS Health Peaslawstreetmedia.com
A Connecticut resident filed a lawsuit against CVS Pharmacy, alleging that CVS Health Peas ruptured after being microwaved as directed, spilling heated contents and causing burns. The filing alleges product negligence and inadequate or misleading instructions; these are allegations, not a court finding.
2021.06.15
Reported2021.06.15
CVS Pharmacy announces ExtraCare rewards program update[11]CVS Pharmacy 宣布更新 ExtraCare 奖励计划finanznachrichten.de
CVS Pharmacy announced that beginning in July, ExtraCare members would receive their 2% back in ExtraBucks rewards moments after nearly every transaction rather than quarterly, and that the program would add a birthday benefit.
Unconfirmed
Reported2021.03.10
Target and CVS partner to distribute COVID-19 vaccines[12]Target与CVS合作分发新冠疫苗nbcconnecticut.com
Target and CVS Pharmacy partnered to expand COVID-19 vaccine distribution nationwide. More than 600 CVS locations inside Target stores were distributing the vaccine across 17 states, according to the report.
2021.02.24
Reported2021.02.24
CVS announces expanded COVID-19 vaccine availability in Texas[13]CVS宣布扩大德克萨斯州新冠疫苗接种服务abc13.com
CVS Health announced that it would begin offering COVID-19 vaccines to eligible people starting Thursday at 47 pharmacies across Texas, including approximately 15 in the Houston area.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2021.02.22
Reported2021.02.22
BioReference joins New York rapid testing program[14]BioReference参与纽约快速检测计划prnewswire.com
BioReference announced its participation in the NY Forward Rapid Testing Program, a collaboration involving New York State, CVS Pharmacy and other organizations.
Unconfirmed
Reported2020.12.04
CVS Pharmacy y más stores launched in New Jersey and New York[15]CVS Pharmacy y más门店在新泽西州和纽约州推出patch.com
CVS Pharmacy launched 12 CVS Pharmacy y más stores in New Jersey and New York, including a location at 451-461 Bloomfield Avenue in Newark.

Sources29 sources

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