Cvs Health Corporation Executive Summary

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CVS Health Corporation describes itself as “a pharmacy innovation company with a simple and clear purpose: Helping people on their path to better health” (CVS Health, 1970). With its headquarters in One CVS Drive, Woonsocket, Rhode Island, USA, CVS Health has a total number of 9,709 stores in the U.S., 99.4% of which sell Rx products. Within the industry, CVS has the highest number of branches in the U.S. (Statista, 2017). Its corporate website is accessible through www.cvshealth.com and the online store through the following website, www.cvs.com.

CVS carries nine main brands: CVS/Pharmacy, ExtraCare, MinuteClinic, Rapid Refill, ExtraBucks, Caremark, CVS Caremark, RxAmerica and Accordant (Canadean Limited, 2016). Its revenue has been increasing steadily since 2011. CVS Caremark alone is forecasted to generate revenue of up to $222.09 billion dollars by 2024 (Statista, 2017). Fast Company recently recognized CVS as one of the top ten “World’s Most Innovative Companies 2018” (Fast Company, 2018). With initiatives, such as the Digital Innovation …show more content…

In 2014, CVS was the first to eliminate all tobacco sales from their pharmacies. CVS justified prioritizing tobacco, because other unhealthy products “do not have the same adverse effects as use of tobacco” (Landau, 2014). This marks the beginning of their prominent and positive influence both within the industry and to its customers.
Recently, CVS followed this move by becoming the first to remove all artificial trans fats from exclusive store brand food products (CVS Health, 2017a). In its newly re-designed stores, CVS also reduced the visibility of junk food by reducing the space devoted to it (Bomey, 2017). It also introduced health and wellness vending machines (CVS Health, 2017c), which makes grabbing a healthy snack

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