What is the CVS controversy?
Asked by: Tristian Willms Jr. | Last update: November 6, 2025Score: 5/5 (25 votes)
Why are people protesting at CVS?
CVS workers strike at 7 Southern California stores for better pay and health care. LOS ANGELES (AP) — Workers at seven CVS pharmacies in Southern California have gone on strike for better pay and health care and to protest what they say is bad-faith contract bargaining by the company.
What are the unethical practices of CVS?
A CVS pharmacy shopping cart in Pinole, California, on July 18, 2023. The US Department of Justice announced a lawsuit on Wednesday accusing pharmacy chain CVS of filling illegal opioid prescriptions and billing federal health insurance programs, contributing to a nationwide epidemic of opioid addiction and overdose.
Why is CVS having trouble?
Over the last few years, CVS has struggled with declining profit margins at its retail pharmacies, as well as rising costs of patient care through its insurance unit Aetna, which generates around a third of the company's revenue. So far, CVS has cut its 2024 earnings forecast for three straight quarters.
Why are pharmacists leaving CVS?
Pharmacists say CVS is understaffing and overworking them
Many of the problems mirror issues found at CVS a store in Virginia Beach, Va., in 2021. Overwork and other problems were linked to dangerous errors in dispensing drugs — and violations that resulted in a $470,000 fine.
Lawsuit: CVS Pharmacy refused to fill Riverview woman's opioid prescription
Why is CVS going out of business?
“We are at a point where the current pharmacy model is not sustainable,” Wentworth said in June. CVS, the largest US chain, closed 244 stores between 2018 and 2020. In 2021, it announced plans to close an additional 900 stores. Earlier this month, CVS said it planned to cut about 2,900 jobs corporate jobs.
Why are CVS and Walgreens in trouble?
The slow simmer of mistakes and misfortunes has come to a boil for the biggest U.S. drugstore chains. They've accumulated too many stores at a time of changing shopper habits. They're saddled with numerous government fines and a particularly ailing relationship with health insurers.
Is CVS closing stores in 2024?
The drugstore chain is in the process of shuttering "roughly 300" locations across the country in 2024, a spokesperson confirmed to Good Housekeeping. That includes the dozens of pharmacies in Target stores. Within the last year, the company has also cut about 5,000 jobs, per The Wall Street Journal.
What is the best pharmacy to use?
Good Neighbor Pharmacy ranks highest among brick-and-mortar chain drug store pharmacies for an eighth consecutive year, with a score of 775. Good Neighbor received top scores in all study dimensions, including "level of trust with pharmacy." Health Mart (729) ranks second and Rite Aid Pharmacy ranks third (650).
Is CVS in trouble financially?
Financial pressures have forced CVS to lower its earnings outlook three times this year. In a cost-cutting move, the company recently laid off approximately 2,900 employees and announced plans to reduce expenses by $2 billion.
Is there a lawsuit against CVS?
On December 13, the U.S. Department of Justice (DOJ) intervened in a False Claims Act (FCA) lawsuit alleging that CVS Pharmacy Inc. and its subsidiaries improperly sought federal reimbursement for prescriptions filled in violation of the Controlled Substances Act (CSA).
What are the disadvantages of CVS?
CVS can cause miscarriage, which is the loss of a pregnancy in the first 23 weeks. The chance of miscarrying after CVS is thought to be less than 1 in 200 for most pregnancies. The chance is slightly higher at 1 in 100 for multiple pregnancies (such as twins or triplets).
Is CVS an ethical company?
CVS Health is committed to the highest ethical standards in everything we do, including our business interactions and marketing practices. It is our goal to communicate about our business in an honest and accurate manner.
Why did Target sell to CVS?
While Target for years seemed to be joining the likes of CVS Health, Walgreens, and other drugstore retailers in beefing up their health care clinic services, it likely realized that in order to compete, it would have had to make a move to boost its competitive edge in the pharmacy business, as CVS and Walgreens have ...
Why did CVS crash?
Hynes said the problem appeared to be that CVS "over-diversified" its Medicare Advantage plan selection and over-extended its benefits. UnitedHealth's stock has also had a pretty bad month.
What is CVS reputation?
Cvs Pharmacy has an average rating of 2.2 from 85574 reviews. The rating indicates that most customers are generally dissatisfied. The official website is cvs.com. Cvs Pharmacy is popular for Drugstores, Shopping. Cvs Pharmacy has 11228 locations on Yelp across the US.
Is Walgreens or CVS better?
What's Better: CVS or Walgreens? When comparing CVS vs. Walgreens, customer reviews indicate that Walgreens is the better pharmacy. However, other factors, such as cost and rewards programs, give CVS a competitive edge, putting it slightly ahead of Walgreens in these areas.
What pharmacy has the best quality drugs?
Following Good Neighbor Pharmacy, which ranked highest among brick-and-mortar chain drug store pharmacies for a seventh consecutive year, with a score of 793, is Health Mart (770), which ranks second, and Rite Aid Pharmacy, which ranks third (680).
Why is CVS struggling?
A company spokesman for CVS stated, “Our industry faces continued disruption, regulatory pressures, and evolving consumer needs and expectations.” Among these disruptions are prescription delivery services, such as Amazon Pharmacy (including PillPack, which Amazon acquired in 2018) and venture capital-backed Capsule.
Why are all the Walgreens closing?
The thinning of Walgreens locations has been in the works. Walgreens said in October 2024 it planned to close about 1,200 underperforming stores across the U.S. as a strategy to offset declining profits resulting from low drug reimbursement rates and sluggish retail sales.
Who did CVS just buy out?
UPDATE: March 29, 2023: CVS closed its $8 billion acquisition of Signify on Wednesday. In a statement, CVS CEO Karen Lynch said the transaction will advance the company's value-based care strategy by enhancing its presence in the home.
What is the controversy with CVS?
The complaint alleges that CVS' actions helped to fuel the opioid crisis and that, in some particularly tragic instances, patients died after overdosing on opioids shortly after filling unlawful prescriptions at CVS.
Why is 7-Eleven in trouble?
7-Eleven to close over 400 stores in North America The ubiquitous convenience store owed its recent revenue drops to inflation, declining cigarette sales and a shift in palates toward fresh food and specialty drinks.
What is the controversy with Walgreens?
The government's complaint alleges that, from approximately August 2012 through the present, Walgreens knowingly filled millions of prescriptions for controlled substances that lacked a legitimate medical purpose, were not valid, and/or were not issued in the usual course of professional practice.