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CVS Pharmacy is currently the largest pharmacy chain in the United States by number of locations (over 9,600 as of 2016) and total prescription revenue. [ 8 ] [ 5 ] [ 9 ] Its parent company ranks as the fifth largest U.S. corporation by FY2020 revenues in the Fortune 500 . [ 4 ]
2015: CVS Health acquires Target Corporation's 1,600+ pharmacies and retail medical clinics inside Target stores. CVS has begun operating them through a store-within-a-store format. [25] 2017: CVS announced they would be installing 25 vending machines in high traffic areas like, bus terminals, airports, and college campuses.
Peoples Drug was a chain of drugstores based in Alexandria, Virginia. [1] Founded in 1905, Peoples was subsequently purchased by Lane Drug in 1975, Imasco in 1984, and finally by CVS in 1990, which continued to run the stores under the Peoples banner until 1994, at which time the stores were converted to CVS, marking the end of the use of the Peoples Drug name.
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On June 15, 2015, CVS Health announced its agreement to acquire Target's pharmacy and retail clinic businesses. The deal expanded CVS to new markets in Seattle, Denver, Portland and Salt Lake City. The acquisition includes more than 1,660 pharmacies in 47 states. CVS will operate them through a store-within-a-store format.