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CVS To Stop Selling Tobacco Products

CVS, the second largest drugstore chain in the U.S., announced Wednesday that it will stop carrying tobacco products on Oct. 1, 2014.

Posted on February 5, 2014, at 10:38 a.m. ET

Mike Segar / Reuters / Reuters

"We're the first national pharmacy chain to say that we're changing," CVS CEO Larry Merlo said Wednesday on CBS This Morning.

Merlo announced Wednesday that all CVS drugstores will stop carrying tobacco products effective Oct. 1, 2014. "It's a contradiction to talk about the things CVS is doing to help health care, and to also sell tobacco products."

CVS becomes the first major United States pharmacy chain to remove tobacco from its 7,600 stores nationwide. CVS Caremark is the nation's second-largest drugstore chain.

Walgreen's pharmacies, the nation's largest chain, said it will not stop selling tobacco products, but will continue to evaluate the product category.

The White House responded to the announcement with a statement from President Obama saying that CVS was setting a "powerful example" with the decision.

CVS estimates that it will lose approximately $2 billion in revenue on an annual basis from the tobacco shopper, retail analyst Chuck Grom says.

#cvsquits. Today we announced that as of Oct 1, we will no longer sell tobacco in any CVS/pharmacy. http://t.co/EgdDWMpgFI

CVS Caremark FYI@CVSCaremarkFYI

#cvsquits. Today we announced that as of Oct 1, we will no longer sell tobacco in any CVS/pharmacy. http://t.co/EgdDWMpgFI

08:01 AM - 5 Feb 14ReplyRetweetFavorite

Thanks @CVS_Extra, now we can all breathe a little easier, and our families can live healthier. –mo

FLOTUS@FLOTUS

Thanks @CVS_Extra, now we can all breathe a little easier, and our families can live healthier. –mo

09:10 AM - 5 Feb 14ReplyRetweetFavorite

Obama: "Today’s decision will help advance my Administration’s efforts to reduce tobacco-related deaths, cancer, and heart disease." #CVS

The White House@WhiteHouse

Obama: "Today’s decision will help advance my Administration’s efforts to reduce tobacco-related deaths, cancer, and heart disease." #CVS

09:50 AM - 5 Feb 14ReplyRetweetFavorite

CVS' decision to eliminate #tobacco sales is a major milestone in the effort to reduce tobacco use: http://t.co/WkzCqqXui2 #CVSquits

Mike Bloomberg@MikeBloomberg

CVS' decision to eliminate #tobacco sales is a major milestone in the effort to reduce tobacco use: http://t.co/WkzCqqXui2 #CVSquits

11:31 AM - 5 Feb 14ReplyRetweetFavorite

CVS updated its official Twitter account with a "no smoking" avatar on Wednesday.

A BuzzFeed News investigation, in partnership with the International Consortium of Investigative Journalists, based on thousands of documents the government didn't want you to see.