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The chain was owned by its original holding company Melville Corporation from its inception until its current parent company (CVS Health) was spun off into its own company in 1996. 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.
CVS Specialty is the specialty pharmacy division that provides specialty pharmacy services for individuals with chronic or genetic diseases who require complex and expensive drug therapies. CVS Health operate 24 retail specialty pharmacy stores and 11 specialty mail order pharmacies, making them the largest specialty pharmacy in the United States.
Walgreens was fined $80 million, the largest fine in the history of the Controlled Substances Act at that time. [67] In November 2021, a federal jury found that Walgreens, along with CVS and Walmart, "had substantially contributed to" the opioid crisis. [68] The trial lasted six weeks with the jury returning a verdict finding the pharmacies liable.
CVS, the largest US chain, closed 244 stores between 2018 and 2020. In 2021, it announced plans to close 900 stores by 2024. Walgreens said in 2019 it would close 200 stores and in June announced ...
While Rite Aid has a net worth of roughly $200 million and Walgreens is worth $30.52 billion, CVS's net worth is a whopping $104.57 billion as of March 3, 2023.
Walgreens’ announcement Tuesday morning comes as rival CVS Health wraps up a three-year plan to close 900 stores and Rite Aid emerges from bankruptcy, whittled down to about 1,300 locations.
The remaining pharmacies are considered to be independent or privately owned. The top 25 pharmacy chain stores represent about 38,000 pharmacy locations in the U.S. and employ about 149,000 on-staff pharmacists. California has 8,015 pharmacies, the most of any state.
CVS and Walgreens are the two largest healthcare and pharmacy retail chains in the U.S. As a prospective investor, you might want to know which stock option makes sense: CVS Health Corporation or...