Target announced this week that it is selling their in-store pharmacies to CVS in a $1.9 billion deal.
What does this mean for you? If you currently get your prescriptions filled at Target, you will soon be getting them filled at your Target store through the CVS pharmacy located in the store. You will also be able to earn CVS Extrabucks rewards when you fill your prescriptions at the CVS location inside your Target. For now, you can still use your Target REDcard for the 5% discount, but there is no word on whether that will continue.
Over 1,660 Target pharmacies will be re-branded as CVS/pharmacy and the nearly 80 Target clinic locations will become CVS Health MinuteClinic locations. New Target stores offering a pharmacy will include a CVS/pharmacy. The new deal allows CVS to expand more cost-effectively without having to build new free-standing locations. It also gives them a presence in areas where there is a Target store, but no CVS. The deal allows Target to focus on kids, baby, style, organic and healthy grocery products and other areas, according to the Target CEO, Brian Cornell.
What do you think? Will you be using the CVS/pharmacy in Target once the transition is complete?