Tobacco sales halted sooner than planned at US drug store chain CVS

CVS, the leading US drug chain by sales, announced that it had stopped selling tobacco products and was changing its name to reflect a greater focus on health.

CVS - which operates some 7,700 pharmacies - said on Wednesday that it had ended the sale of cigarettes, pipe tobacco and other products a month earlier than expected, cutting out a profit stream competitors like Walgreens will continue to enjoy.

"The sale of tobacco in a retail pharmacy conflicts with the purpose of the health care services delivered there," said CVS chief medical officer Troyen Brennan.

"Even more important, there is evidence developing that indicates that removing tobacco products from retailers with pharmacies will lead to substantially lower rates of smoking, with implications for reducing tobacco-related deaths."

At the same time, the company - with US$127 billion in revenue last year, including US$65 billion from prescriptions - announced a formal name change from CVS Caremark to CVS Health.

"For our patients and customers, health is everything and CVS Health is changing the way health care is delivered to increase access, lower costs and improve quality," said company president and chief executive Larry Merlo.