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Business Ethics in the News
THE GOOD NEWS: CVS To Pull Tobacco Products from Its Shelves
Thursday, Feb. 6, 2014
CVS Caremark, the largest drugstore chain by both sales and pharmacy sales, announced Wednesday that they would no longer sell tobacco products at its stores by October of this year.
"We came to the decision that cigarettes and providing health care just don't go together in the same setting" - Larry J. Merlo, cheif executive of CVS.
The company anticpiates a loss of $2 billion in sales from removing tobacco products, but hopes to make up some of that with smoking cessation programs, beginning with a campaign to help half a million Americans stop smoking. While $2 billion is a fraction of the company's $123 billion revenue (in 2012), this is a proactive measure on their part in demonstrating their commitment to health care services.
There's also an ethical angle here as well: is this an example of CVS going above and beyond, or should we expect this from all stores with pharmacies?
CVS Vows to Quit Selling Tobacco Products (NY Times)
Ending Tobacco Sales in Pharmacies (Journal of American Medicine)
A Framework for Ethical Thinking (Markkula Center for Applied Ethics)
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