CVS Buys Target's Pharmacies for $1.9 Billion

CVS Buys Target's Pharmacies for $1.9 Billion

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Tara Bellucci
Jun 15, 2015
(Image credit: David Ryder/Bloomberg)

CVS will be acquire all of the pharmacies and clinics inside Target stores for $1.9 billion, the companies announced today. The sale is a move on Target's part to regain the brand's cachet by refocusing resources to what it does best.

CVS will acquire Target’s more than 1,660 pharmacies across 47 states, renaming them as CVS/pharmacy, and any new Target stores with pharmacy services will include a CVS.

CVS will also be a partner in the planned TargetExpress stores.

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