Finanzas: Is CVS A Promising Buy?
Background and history of expansion for CVS since the 1960s.
Movement into pharmacy and healthcare.
Where the company is headed and why to buy.
The first CVS (NYSE:CVS) store opened in 1960s in Lowell, Massachusetts and stood for “Consumer Value Stores.” Originally, the store sold health and beauty products and continued that strategy throughout the 1960s while the company expanded to 17 stores. In the late ’60s, CVS began its first operations of pharmacy departments at two different locations in Rhode Island. Throughout the 1970s, the company acquired 220 new store locations from different drug chains and discount stores. With increasing success in acquisition, CVS was able to reach $100 million in annual sales. By the end of the 1980s, CVS had launched “Caremark,” which offered mail service pharmacy and home care services. The company celebrated its 25th anniversary with a year-end accumulation of 750 stores and $1.6 billion in sales. In 1996, CVS Corporation entered the New York Stock Exchange.
Pushing into Pharmacy and Healthcare
Throughout the ’90s, CVS acquired 2500 stores in the pharmacy industry and launched Pharmacare, a pharmacy benefit management company that offered services to insurers and various employers. By the end of the decade, Caremark had launched online prescription refills and established pharmaceutical services as its core operating unit. In 2006, CVS acquired MinuteClinic, which was America’s leading operator of in-store health clinics. In 2014, CVS announced the company will remove all cigarettes and tobacco products from CVS/pharmacy.
Where CVS is Headed
Over the company’s history, CVS has been able to grow from a pharmacy retailer to a major player in the healthcare system. Furthermore, its expansion continues into the pharmaceutical division when the company established itself as a pharmacy innovation company and has launched an initiative to address prescription drug abuse across the nation. Pharmacists will reach out to 100,000 students through social media and marketing. CVS’s partnership with DoSomething.org has made it a priority to equip young people with tools to battle prescription drug abuse. I believe this movement enforces a business model to serve its customers and enable communities to access quality care efficiently. CVS continues to shape the future of health by continuously expanding through acquisition and effective marketing.
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