CVS to buy Target Pharmacy business + operate in stores

[PlutoPony]

Yesterday, CVS announced it reached agreement to buy Target's pharmacy business. The plan is for the pharmacies to remain open in Target stores but they will be operated by CVS as CVS pharmacies. No date for this deal to close has been disclosed, it does have to be approved by regulators (which shouldn't be a problem).

Bottom line - this is probably a win-win for both companies. Target wasn't making money in the pharmacy business. This allows them to focus on improving profit in their core business. But when people stop in for prescriptions they tend to pick up other items while they are there, sales and traffic that Target doesn't want to lose. And CVS adds market share in their core business.

Specific to the budget board, might want to start weaning from those Target pharmacy discounts....

 

[tvguy]

I have 2 CVS's near me and the customer service is awful. Had their mail order pharmacy for a year and it was so bad....as in WRONG medicines being sent.....that corporate forced our insurance provided to switch mail order pharmacies. Apparently they messed up our CEO's prescriptions too!
Won't impact my immediate area though, Target took out their pharmacies in the stores closest to me when they put in the grocery store.

 

[StephMK]

I was already annoyed that Target shortened their pharmacy hours. If they lose the 5% pharmacy rewards discount, it will probably be the push I needed to switch to another pharmacy.

 

[Shanna-like-Banana]

Thats a bummer ! We love our Target pharmacy and do not want to see this change.

We easily get the 5% pharmacy reward almost every month and sometimes benifited from when they have the gc with new Rx

We love the staff at our Target pharmacy and when I have used CVS, they always seem so hectic and l just dont care for how they treat people.

 

[Bree]

I don't use Target Pharmacy, but I have boycotted CVS for 4 months now. I loved them when I lived in MA, but they are awful where I live in FL. Rude pharmacists and techs, prescription refills not filled for time requested and they were always out of stock on common Rx's and would not check at other stores for me. I take a pretty common anti-depressant and they would always be out of stock and could never tell me when they would get another shipment. The pharmacist told me it was "not his job" when I asked if he could locate it at another CVS instead of me calling and/or driving around. I switched to Walgreens for good in February and have had no issues!

 

[Jaya]

I'm glad to hear that. I switched from Target to CVS this year because I was very unsatisfied with the service I was getting at my Target pharmacy. Now it'll be a win-win situation for me. Target store....CVS efficiency.

 

[Halloweenqueen]

Guess this is for every Target? We do not have CVS here in WA. Probably the motivation I needed to switch to Costco.

 

[Judique]

I'm glad to hear that. I switched from Target to CVS this year because I was very unsatisfied with the service I was getting at my Target pharmacy. Now it'll be a win-win situation for me. Target store....CVS efficiency.

Our plan forced us to switch to CVS a couple of years ago for all but one time prescriptions. I was so upset because of the 7 pharmacies within one mile of us, CVS was the least efficient, busiest, hardest to park, rudest, most mistakes, etc,etc,etc. I still have to go there but I don't have to like them. Maybe it will be better in target if they retain the employees.

 

[StitchesGr8Fan]

I hate CVS (their mail order mix up could have killed me if I hadn't checked before taking medicine), but our Target pharmacy has crappy hours and is often out of common medicine. This is enough to convince my husband to switch to Walgreens.

 

[lvillotta1]

I am amazed at the people who use CVS,Walgreens etc. They are the highest priced pharmacies. I use SAMS and they are so cheap. I get approx 10 meds a month for about $40. Yes I have to walk in and get them,but the staff is super helpful and pleasant. I have saved millions.

 

[Bree]

Our copays for prescriptions are the same no matter where I go. I suppose if you have deductibles or have to pay a percentage of the cost it would be smart to shop around.

 

[afan]

Guess this is for every Target? We do not have CVS here in WA. Probably the motivation I needed to switch to Costco.

CVS has started opening stores in WA. There's one in Renton and one in Burien, both have opened within the last year. I haven't been to either though. I loved CVS when I lived in NC, but they aren't convenient to shop at here.

I would imagine, at least to start with, the staff would stay the same because it benefits CVS to keep them rather than replace them all. I got fed up with Target's lack of customer service and switched to Fred Meyer, which is closer and has great pharmacy staff.

 

[Stitch808]

I just hope they keep Target's generic medications prices. It is the cheapest pharmacy in this area. I also like Target's pill bottles. They are easy to open, but still child-proof.

 

[EeyoreME]

From what I understand they are keeping the target pharmacy teams.... so same techs and pharmaist you deal with now you should be dealing with then. Not alot of info is out though.

 

[JB2K]

Guess this is for every Target? We do not have CVS here in WA. Probably the motivation I needed to switch to Costco.

Yes, in fact, when CVS made their announcement, they specifically said they would enter a handful of other states in the Rockies/Pacific Northwest for the very first time...

 

[JB2K]

From what I understand they are keeping the target pharmacy teams.... so same techs and pharmaist you deal with now you should be dealing with then. Not alot of info is out though.

Yes, and No -- Current Target pharmacists will have to re-apply for their job through CVS, while the Team Member running the Pharmacy register will be shifted to other in-store duties...

 

[JB2K]

I just hope they keep Target's generic medications prices. It is the cheapest pharmacy in this area. I also like Target's pill bottles. They are easy to open, but still child-proof.

According to what I read, the red, color-coded pill bottles belong specifically to Target, and were not included in the sale to CVS.

 

[DCDisney]

I drive further away to use a Target pharmacy over CVS. If they take away the cool bottles, generic prices, and rewards I'll be switching to Walgreens or Walmart. The CVS less than a mile from me typically has a 4 times longer wait than my Target pharmacy and they do everything wrong so the line takes forever to get through.

 

[havaneselover]

I would think there would be anti-trust concerns here.

Cvs is my closest pharmacy but the last one I will use. I use Costco generally which is a nightmare but it's the easiest on my limited budget.

 

[cel_disney]

Bummer the pill bottles are not included in the deal! We love those! We have CVS Caremark insurance so we can only go to Target for meds when we are sick, not our routine scripts...but they are the slowest around with fewest hours so we end up just going to cvs for everything...will be interested to see how this plays out...