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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.