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Walgreens
Walgreens was founded in 1901 in Chicago by Charles R. Walgreen Sr., who purchased the drugstore where he had previously worked as a pharmacist, and the company grew over the following century into one of the largest pharmacy chains in American history. The company is widely credited with popularizing the malted milkshake in the 1920s at its in-store soda fountains, a feature that became a defining part of the classic American drugstore experience for decades before being phased out of most locations. Walgreens merged with European pharmacy and health retail giant Alliance Boots in 2014 to form Walgreens Boots Alliance, creating one of the largest pharmacy-led health and wellness companies in the world with a footprint spanning multiple continents. Walgreens's combination of its century-plus American drugstore heritage, including its role popularizing the soda-fountain milkshake, and its transformative merger with Alliance Boots has made it one of the most globally significant pharmacy chains in the industry.
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CVS Pharmacy
CVS was founded in 1963 in Lowell, Massachusetts by brothers Stanley and Sidney Goldstein along with Ralph Hoagland, originally opening as a health and beauty aid discount store before adding pharmacy counters to its locations starting in 1967. The company grew into the largest pharmacy chain in the United States by store count and revenue, and its 2007 acquisition of Caremark, a major pharmacy benefit manager, along with its 2018 acquisition of health insurer Aetna, transformed CVS Health into one of the largest integrated healthcare companies in the country. CVS drew significant national attention in 2014 when it became the first major U.S. pharmacy chain to voluntarily stop selling tobacco products in all of its stores, a decision the company framed as aligning its retail business with its broader healthcare mission. CVS's combination of its growth into the largest pharmacy chain in the country and its transformation into a vertically integrated healthcare and insurance conglomerate has made it one of the most structurally significant companies in the American pharmacy industry.
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