CVS to Exit US Chamber of Commerce Over Tobacco Revelations
CVS Health is leaving the US Chamber of Commerce because of its position on tobacco products outside of the US. The chamber and its foreign affiliates have reportedly been lobbying against restrictions in foreign countries on smoking in public places, advertising restrictions, bans on menthol and graphic warning labels. CVS stopped selling cigarettes and other tobacco products at its stores last year in an effort to become more of a healthcare destination, reports Fortune magazine. CVS SVP David Palombi expressed surprise about the recent reports concerning the chamber’s position and explained the company’s decision. “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,” he said. CVS has 7.8k drugstores across the US and recently agreed to take over Target’s pharmacy business. Tobacco products generated $2B in annual revenue for CVS prior to its decision to stop selling them. [Fortune]
