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US: CVS to buy Target’s pharmacy for $1.9 billion

By  |  June 15, 2015

Target will sell its pharmacy and clinic businesses to CVS Health in the latest twist behind a push from big retailers to become all things to all customers.

The nation’s second-largest drugstore chain will pay about $1.9 billion to run Target’s in-store health operations and expand what they offer for customers who have come to expect that they will be able to fill a prescription when they shop at Target.

If approved by regulators, this could be a savvy deal for CVS as it gains access to customers at 1,700 established locations without having to do heavy construction.

That said, the deal will take away Target as a competitor in the pharmacy market, which could draw some antitrust scrutiny from regulators.

Full content: Market Watch

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