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CVS announces plans to stop selling tobacco products

A cigarette sits in an ashtray at the Red Key Taven in Indianapolis, Thursday, June 11, 2009. The U.S. Senate voted Thursday on legislation that for the first time would give the new powers to control the production and marketing of tobacco products. South Carolina has the lowest state sales tax on cigarettes in the country. (AP Photo/Darron Cummings) ptmet

Cigarette burns down in an ash tray.  |  File photo

CVS is going to stop selling all tobacco products later this year. According to the Associated Press:

"CVS Caremark is kicking the habit of selling tobacco products at its more than 7,600 drugstores nationwide as it focuses more on providing health care.

The nation’s second-largest drugstore chain said Wednesday that it will phase out cigarettes, cigars and chewing tobacco by Oct. 1, a move that will cost about $2 billion in annual revenue but won’t affect its 2014 earnings forecast. CVS Caremark leaders say removing tobacco will help them grow the company’s business of working with doctors, hospitals and other care providers to improve customers’ health."

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