Difference between Walgreens and CVS Pharmacy
Two of the biggest drug store chains in the United States are CVS Pharmacy and
Walgreens. Most people who have to buy medications or other personal care products routinely go into one or the other of these stores, and they have almost become synonymous with the idea of a drug store. Aside from their similar product lines however, the two have a few other connections, particularly with regard to their business dealings and share of controversies.
Profile
CVS Pharmacy is the second largest pharmaceuticals retailer in the United States. At present, it has more than 7,000 stores all over the country and in Puerto Rico. CVS Pharmacy mainly sells prescription and over-the-counter drugs in addition to a variety of general merchandise such as cosmetics, film and photo products and services, greeting cards and even convenience food.
Walgreens has the distinction of being the largest pharmaceutical chain in the United States, with more than 7,500 stores all over the country, and in the District of Columbia and Puerto Rico. The chain provides a variety of goods and services and pharmacy, in addition to its health and wellness products.
Controversies
One of the biggest controversies that CVS Pharmacy was involved in had to with accusations of “deceptive business practices”, for which the company settled out of court. The settlement cost the company $38.5 million, and the suit stemmed from accusations that company representatives informed physicians that patients or health care providers would save money if patients were prescribed to certain prescription drugs that the company specified.
As for Walgreens, the company was rocked with a scandal involving accusations of switching dosage forms on medications usually prescribed for Medicaid patients without the approval of doctors, as a way to increase profits. Medicaid programs all over the country then had to pay more for certain than they would have otherwise. In addition to agreeing to comply with state and federal laws, Walgreens also paid a total of $35 million to the United States federal government, 42 states, and the Puerto Rican government.
Splitting Paths
CVS Pharmacy and Walgreens were previously involved in dealings in which Walgreens would sell prescription drugs from CVS Pharmacy’s prescription drug plans. However, a Walgreens spokesperson recently when on the record to state that they would no longer be involved with CVS Pharmacy in this or any other capacity, in an announcement that cost CVS Pharmacy’s sales to plummet, at a faster rate than it had in the past seven months.
Similarities and Differences
CVS Pharmacy
- The second largest pharmaceuticals retailer in the United States
- More than 7,000 stores all over the country and in Puerto Rico
- Sells prescription and over-the-counter drugs in addition to a variety of general merchandise
Walgreens
- Largest pharmaceutical chain in the United States
- More than 7,500 stores all over the country, and in the District of Columbia and Puerto Rico
- Recently broke ties with CVS Pharmacy
