CVS Opens First CVS Pharmacy Inside a Target Store
Posted on February 4, 2016
CVS Pharmacy has opened its first CVS Pharmacy locations inside of Target stores. Eventually all 1,672 Target pharmacies will be converted into CVS Pharmacy locations through a store-within-a-store format. CVS Health says this will take place over the next six to eight months.
CVS Health acquired all Target pharmacies and retail clinics across 47 states last year. Target clinic locations will be rebranded as CVS MinuteClinic locations. CVS Health says the acquisition increased its pharmacy footprint by about 20%.
Helena Foulkes, President of CVS Pharmacy, says in a statement, "As we roll out the new CVS Pharmacy in Target stores, we will be working closely with patients to make their transition to our services and programs as simple and seamless as possible. CVS Pharmacy in Target stores will not only introduce new customers to our leading pharmacy care and innovative clinical programs, it will also introduce them to a set of digital tools to help them stay healthy."
The first CVS in Target locations opened in North Carolina. They include the Hickory, Monroe, Morrisville, Raleigh, Matthews and Wesley Chapel stores.
The change from Target pharmacies to CVS pharmacies could potentially impact the cost of drugs as there will be less competition among pharmacies purchasing the drugs from drug companies. At the same time CVS will have more bargaining power since they will have a significantly larger customer base. CVS says its patients can earn $5 in ExtraBucks Rewards for every 10 prescriptions filled.