CVS To Buy Target's Pharmacies For $1.9 Billion

03:35

June 15, 2015

CVS will pay $1.9 billion dollars to buy Target's 1,700 pharmacies and clinics. (jeepersmedia/Flickr)

CVS announced today that it will pay $1.9 billion to buy Target's 1,700 pharmacies and clinics. The purchase will give CVS, the second largest drugstore chain in the country, a chance to expand into some new markets.

The deal will also allow Target to hand off its pharmacies, which had not been as profitable as its other retail departments. Here & Now's Robin Young talks with with Jill Schlesinger of CBS News about the purchase.

Guest

Jill Schlesinger, business analyst at CBS News. She tweets @jillonmoney.

This segment aired on June 15, 2015.