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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CVS Health Corporation | NYSE:CVS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.81 | 1.47% | 55.96 | 56.43 | 54.96 | 55.22 | 23,942,832 | 01:00:00 |
CVS Health Corp. is quitting the U.S. Chamber of Commerce, citing conflicting stances with the powerful lobbying group regarding smoking.
The second-largest pharmacy chain in the U.S., the Rhode Island pharmacy stopped selling cigarettes and tobacco products last year as it positions itself as a wide-ranging health-care provider rather than a traditional pharmacy dispensing drugs.
"CVS Health's purpose is to help people on their path to better health, and we fundamentally believe tobacco use is in direct conflict with this purpose," the company said Tuesday in an emailed statement.
The move follows a New York Times report that said the U.S. Chamber of Commerce, the nation's largest business lobby with more than three million members, was working to fight antismoking laws around the world.
The Chamber of Commerce rebutted the claims, saying, "This organization is not in the business of promoting cigarette smoking at home or abroad, period."
"The Chamber believes that public health policy aimed at curbing smoking can yield positive results, while still upholding intellectual property protections, honoring international agreements, and not singling out any specific industry for discriminatory treatment or destruction of company brands," it said in a statement posted on its website.
CVS—which has agreed to buy Target Corp.'s pharmacy business in a $1.9 billion deal—reported a profit of $4.7 billion on $139.4 billion in revenue last year, up from $4.6 billion and $126.8 billion in sales a year earlier.
Write to Maria Armental at maria.armental@wsj.com
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