Want to pick up a pack of cigarettes with your prescription refill? A major U.S. pharmacy chain is breaking that habit. CVS Caremark announced Wednesday that it will stop selling cigarettes and other tobacco products at its CVS/pharmacy stores by October 1 of this year.
The retailer said the move makes CVS/pharmacy the first chain of national pharmacies to take tobacco products off the shelves.
"Ending the sale of cigarettes and tobacco products at CVS/pharmacy is the right thing for us to do for our customers and our company to help people on their path to better health," Larry J. Merlo, president and CEO of CVS Caremark, said in a statement. "Put simply, the sale of tobacco products is inconsistent with our purpose."
CVS Caremark is the largest pharmacy in the United States based on total prescription revenue, according to the company. It operates more than 7,600 CVS/pharmacy stores nationwide, in addition to more than 800 MinuteClinics, which are medical clinics within the pharmacy locations.
Health-oriented organizations praised the move.
Stopping cigarette sales comes at a price. CVS Caremark estimates it will take an annual loss of $2 billion from tobacco shoppers.
The company has enjoyed growing revenues in recent years, boosted by its pharmacy services business and prescription drug sales.
CVS Caremark hasn't reported its year-end results yet, but it took in nearly $94 billion in revenues in the first nine months of 2013, up slightly from the same period in 2012, according to its most recent earnings report.
In 2012, CVS Caremark reported $123.1 billion in revenues, a 15% jump from $107.1 billion the previous year.