CVS Health is still feeling the pinch from its 2014 decision to drop cigarettes. But the company continues to leverage the positive PR from that move to convince more and more employers that it is truly a health care company, allowing it to win new business for its Caremark pharmacy benefits manager. And though the PBM eclipsed its retail drugstore business size a few years ago, the company has still gone still full steam ahead with expanding its CVS/pharmacy business, which has been grappling with declines in comparable sales. CVS recently took over 1,700 in-store drugstores from Target and is rolling out order pickup with tech startup Curbside this year. It is also continuing to push healthier food options in its stores to burnish its image as a healthcare company and improve its beauty selection to better compete with archrival Walgreens.
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The program, called CarePass, is only available in the Boston area for now.
Investors fear weakness, debt in the retail sector.
Health care mergers like CVS-Aetna signal a sea change.
CVS Health Corp. and Aetna Inc. can go ahead with their about $68 billion deal, the Justice Department said.
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For $66 billion.