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CVS Buys 1,660 Pharmacies from Target, Ties Walgreens in Store Count

CVS Health Corporation and Target Corporation announced that CVS Health is to acquire Target’s pharmacy and clinic businesses for approximately $1.9 billion. Through this agreement, CVS Health will acquire Target’s more than 1,660 pharmacies across 47 states and operate them through a “store-within-a-store” format, branded as CVS/pharmacy. In addition, a CVS/pharmacy will be included in all new Target stores that offer pharmacy services.