Deals

CVS to Pay $1.9 Billion for Pharmacies Inside Target Stores

A Target store in Seattle.
Photographer: David Ryder/Bloomberg

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By David Risser

June 15, 2015 at 11:10 AM UTC

Updated on

June 15, 2015 at 12:55 PM UTC

This article is for subscribers only.

CVS Health Corp. will pay $1.9 billion to buy Target Corp.’s pharmacies and clinics, expanding its reach by adding stores bearing its name inside the U.S. retail chain.

CVS, which already has 7,800 drugstores, will acquire Target’s more than 1,660 pharmacies across 47 states, renaming them as CVS/pharmacy, the companies said today in a statement. All new Target stores with pharmacy services will include a CVS/pharmacy.