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CVS Vows to Quit Selling Tobacco Products
Article by: http://www.nytimes.com/2014/02/06/business/cvs-plans-to-end-sales-of-tobacco-products-by-october.html
Large drugstores chains such as CVS and Walgreens are withdrawing “traditional” and e-cigarettes because they are more concerned about the health of citizen well-being rather than profits the companies earn. This plan to reduce death and lung cancer is supported by governments by rising higher taxes. This plan works successfully because in 1999 to 2003 percentage of high school girls who smoke drop 37%. Moreover, F.D.A attempts to raise awareness about harmful effects of smoking to deter youths from engaging in this detrimental activity.
However, it backfired on the financial profit of the company. CVS suffers huge financial losses annually. Because absence of cigars, people are keen ongoing to pharmacies to purchase prescriptive drugs for small disease like flu. To minimize the profit loss CVS are planning cessation program which will benefit both citizens and company. It reduces the losses until 6cents per share annually.
Profits are not necessarily gained by utilizing people’s addiction to toxic stuffs. Company can earn “good” profits by selling non-harmful and beneficial goods to the society. Good deeds will receive better reward. The saying goes “good begets good”. Morals and ethics should not be compromised at the expense of profits. In addition, CVS are planning to promote insurance to earn more profits in a way which is accepted by society.