FTC - Federal Trade Commission

09/22/2025 | Press release | Distributed by Public on 09/22/2025 12:42

CVS Corporation, and Revco D.S., Inc. - CVS agreed to settle allegations that its acquisition of Revco would substantially reduce competition for the retail sale of pharmacy[...]

Tags:

  • Competition
  • Bureau of Competition
  • Merger
  • Health Care
  • Drug Stores and Pharmacies
Last Updated
September 22, 2025
In the Matter of CVS Corporation, and Revco D.S., Inc.
FTC Matter/File Number
971 0060
Docket Number
C-3762
Enforcement Type
Civil Penalty (Order Violation)
Part 2 Consents

Case Summary

CVS agreed to settle allegations that its acquisition of Revco would substantially reduce competition for the retail sale of pharmacy services to health insurance companies and other third-party payers in Virginia and in the Binghamton, New York metropolitan area. The consent order requires the divestiture of 114 Revco stores in Virginia and 6 pharmacy counters in Binghamton.

In March, 1998, CVS Corporation agreed to pay a $600,000 civil penalty to settle Federal Trade Commission charges that the company violated a 1997 consent order and asset maintenance agreement it signed with the agency to settle charges stemming from CVS's 1997 acquisition of Revco D.S., Inc.

Case Timeline

March 30, 1998
File
Complaint (2.32 MB)
File
Judgment for Civil Penalties in Connection with the Order in FTC Docket No. C-3762 and with the Related Asset Maintenance Agreement (470.89 KB)
March 27, 1998

PRESS RELEASE: CVS To Pay $600,000 Civil Penalty for Violating FTC Asset Maintenance Agreement

August 15, 1997
File
Complaint (8.53 KB)
File
Decision & Order (47.53 KB)

PRESS RELEASE: Announced Actions for August 15, 1997

May 29, 1997
File
Consent Agreement Package (71.18 KB)

PRESS RELEASE: CVS To Divest 120 Revco Drug Stores in VA, NY To Settle FTC Charges...

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