CVS stops selling tobacco products a month early
WOONSOCKET, R.I., Sept. 3 (UPI) -- Starting Wednesday, CVS Caremark plans to stop selling tobacco products at its stores. It's a move health care experts hope other major drugstore chains will follow.
Back in February, CVS announced it planned to stop offering those products in their stores by October 1st, making it the first national pharmacy chain to do so. CVS has 7,600 stores nationwide.
In a statement, the President of Campaign for Tobacco-Free Kids, Matthew Myers said: "CVS' announcement to stop selling tobacco products fully a month early sends a resounding message to the entire retail industry and to its customers that pharmacies should not be in the business of selling tobacco."
Going one step further, the company will also start a national smoking cessation program to help smokers quit.
CVS estimates it will lose around $2 billion dollars in annual revenue and will impact earnings in 2014 by about 19 cents a share.
The Centers for Disease Control and Prevention says smoking tobacco causes more than 5 million deaths per year globally and this figure it set to jump to 8 million annually by 2030. The U.S. accounts for around 489,000 deaths, of which 49,000 are caused by second-hand smoke exposure.
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