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Consumer OTC Drugs

CVS to divest 134 Virginia Revco stores to Eckerd under FTC merger agreement.

This article was originally published in The Tan Sheet

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Executive Summary

CVS TO SELL 144 VIRGINIA REVCO STORES TO ECKERD AS PART OF DIVESTITURE AGREEMENT reached with the Federal Trade Commission. The agreement also directs CVS to sell six pharmacy counters in the Binghamton, N.Y. area to Medicine Shoppe International. Medicine Shoppe, the St. Louis, Mo.-based apothecary franchise subsidiary of Cardinal Health, does not operate any stores in Binghamton. The consent decree announced by FTC May 30 will allow CVS to move forward with its acquisition of Revco.

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