Stopping Tobacco Sales Makes Good Business Sense
CVS Health's decision to remove tobacco products from pharmacies did make good business sense.
I previously congratulated CVS Health for taking tobacco products out of its pharmacies. The corporate chain did what was right, not what seemed to make good business.
During a recent TEDx event, CEO Larry Merlo calls it decision making inside out. In addressing students at Wake Forest University, he presented data showing the company’s decision actually did make good business sense.
Merlo shared some letters from customers who really appreciated this action and said they would be more loyal to CVS Health because it did what was right in making this decision. If more business decisions were made from this perspective, perhaps more pharmacies would have more loyal customers.
I wonder when other corporate pharmacies are going to do what the profession has been saying all along, which is to remove tobacco products from pharmacies so their actions are consistent with the image of neighborhood health centers they want.