CVS just bought out Target pharmacies for $1.9 million dollars. We know the pharmaceutical world can be greedy and that CVS is a mega giant in the industry, but how will that work with them being involved with Target? They want to expand and this bold move will allow them the expansion power they want.
Is this a good move for CVS? Probably so, as they are already one of the biggest pharmacies out there. If you regularly shop at Target, when you go to pick up your prescriptions, it will be at the CVS inside the store. All pharmacies from the 1,660 pharmacies will be transferred over to the new name soon.
What is this going to do for CVS? Well, the additional stores will mean a revenue of $4.2 billion dollars. They will also add 80 clinics to the inside of these stores. The minute clinics are a huge hit in many areas and provide people with quick fixes for common ailments. So what does CVS need to take on so many more locations? It’s all about the money and power. Being bigger and better than their competitors is what they are looking at. Plus, it’s a healthy chunk of change at the end of the day too.
This is a bold move, but probably one that will be very lucrative for the company. The team behind Beneful just hope they didn’t bite off more than they can chew.