(Bloomberg) — CVS Health Corp.'s move a year ago to give up tobacco seems to be helping some smokers stop or cut back as well.
In a study, researchers at the company found small but statistically significant reductions in total cigarette purchases in states where the company has a large presence and ended tobacco sales at its stores, according to the researchers.
CVS quit selling tobacco products last September as part of a business decision to focus broadly on health care. The company's analysis looked at cigarette sales in the following eight months. In 13 states where CVS had significant market share among drugstores, statewide cigarette sales declined 1 percent, compared with three states where CVS doesn't have stores, the analysis found. Other pharmacies and convenience stores haven't followed CVS's decision to end tobacco sales.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
