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CVS Pharmacy is a retail corporation with stores throughout the US. The company is owned by CVS Health. Today, CVS Pharmacy is the largest pharmacy chain in the United States with regards to the number of locations and prescription revenue. Its parent company CVS Health ranks as the 7th largest corporation by revenues in the Fortune 500.

History

CVS Pharmacy was initiated in Lowell Massachusetts in 1963 by brothers Sidney and Stanley Goldstein and Ralph Hoagland, a Scandinavian American. The first-ever Consumer Value Store (CVS) was selling beauty and health products. By 1964, CVS Pharmacy was running 17 stores that mainly sold beauty products. The company then introduced a pharmacy department in its first stores in 1967 and they continued their expansion into Rhode Island, Cumberland, and Warwick. 

In 1969, the retail chain was then sold to the Melville Corporation.  Its original holding company, the Melville Corporation has run and expanded the CVS Pharmacy to various states around the country. In 1996, CVS Pharmacy spun off into its own independent company, CVS Health. 

Business Directions

CVS Pharmacy has grown and transformed since its inception. However, the company’s commitment to patients, clients, customers, and communities has endured for over 50 years. CVS Pharmacy lives up to its purpose of helping people to better health. They achieve this by making quality care more accessible, simple, seamless, and affordable. 

CVS Pharmacy has its headquarters in Woonsocket, Rhode Island. The company owns and operates more almost 10,000 retail store locations around the country. Their store locations are easily accessible to consumers and they provide products and services based on the needs of the local community. 

Key Facts

CVS Pharmacy sells prescription and over-the-counter drugs, beauty products, cosmetics, seasonal merchandise, convenience foods, film and photo finishing services, and greeting cards through their retail stores and online through their website CVS.com. The company also offers healthcare services through its over 1,100 MinuteClinic medical clinics and Diabetes Care Centers. Most of their clinics are situated within or outside their CVS retail stores. 

CVS Pharmacy has been a pioneer in environmental conservation. In 2005, the company took part in a program to cut down on pollution of Marine waterways. The company agreed to take back drugs for disposal to prevent people from disposing them of in ways that reach water bodies such as rivers. 

In 2013 CVS Pharmacy paid $800,000 to Connecticut owing to purported mismanagement of hazardous waste. These allegations were discovered by the Connecticut Department of Energy and Environmental Protection Agency. It is believed that CVS Pharmacy had improperly identified, handled, and disposed of hazardous medical waste. 

Conclusion

CVS Pharmacy is a leading pharmacy retailer in the United States. The company has almost 10,000 stores around the country selling prescription drugs, over-the-counter drugs, beauty products, and many more. The company strives to not only help consumers get well, but stay well in mind, body, and spirit.  

FAQs

What Type of Company is CVS?

CVS Pharmacy is an American-owned and operated retail pharmacy chain. The company retail stores sell a variety of prescription drugs, over-the-counter medications, beauty products, snacks, and many more. 

What Makes CVS Pharmacy successful?

Most businesses succeed today because of their people and CVS Pharmacy is not an exception. The company invests time and money to create the best working environment for its employees. For example, the company offers cash bonuses for staff across the board and offer salary even when employees are sick. 

What does CVS Health provide?

CVS Health provides health and wellness services in their HealthHUB and MinuteClinic locations, infusion services, financial wellness, care management, and long-term care. The company brings high-quality, affordable care, wellness, preventative services, and chronic condition management closer to homes. 

Typical Hours of Operation

Mo 9:00 - 20:00
Tu 7:00 - 19:00
We 7:00 - 19:00
Th 9:00 - 20:00
Fr 9:00 - 20:00
Sa 9:00 - 18:00
Su 9:00 - 18:00

Locations: 9016 locations in 50 states and 3372 cities.

Categories

  • Pharmacies
  • Pharmaceutical Products-Wholesale & Manufacturers

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