CVS stated it is going to open a dozen or extra drugstores that solely have pharmacies because it scrambles to stay aggressive towards rivals like Goal, Amazon, Walgreens, and Ceremony Support.
The smaller shops, every location averaging lower than 5,000 sq. ft, will function a full service pharmacy with restricted over-the-counter merchandise for buy.
“The new pharmacies will be introduced in select neighborhoods to help bridge gaps in care and make it easier for patients to access medications, immunizations, and other pharmacist-provided health care services,” a CVS spokesperson stated.
The transfer is aside of a bigger cost-cutting effort, which CVS enforced final 12 months in closing over 1,000 shops and shedding nearly 3,000 workers.
There are at the moment over 9,000 CVS pharmacy places, together with these in Goal and Schuncks grocery shops, in keeping with CVS’ web site. CVS goals to rework “health through local care,” citing on their web site that round 85% of Individuals reside inside 5 miles of a CVS Pharmacy.
“By taking a customized approach to our footprint that is focused on the specific needs of the communities we serve, we’re continuing to strategically realign our pharmacy footprint to better support patient and ensure the right geographic coverage,” a CVS spokesperson stated.
CVS just isn’t the one firm to bear widespread adjustments, as simply final week Walgreens was offered to a non-public fairness agency in a $24 billion cope with Sycamore Companions as a result of monetary struggles. Moreover, Ceremony Support narrowly exited chapter final 12 months after efficiently present process widespread monetary restructuring.
CVS’ pharmacy-only shops will open nationally in “select communities” in 2025.
