Fact Check: Is CVS and Walgreens owned by the same company?

Are CVS and Walgreens Owned by the Same Company?

Introduction

The claim that CVS and Walgreens are owned by the same company has circulated in various forms, prompting questions about the ownership structures of these two major pharmacy chains. This article aims to clarify the ownership status of CVS and Walgreens, examining the evidence and sources available.

What We Know

Distinct Ownership: CVS Health Corporation and Walgreens Boots Alliance are two separate entities. CVS Health operates CVS Pharmacy, while Walgreens is a subsidiary of Walgreens Boots Alliance, which is an independent company 4 8.
Company Backgrounds:
- CVS Health: Founded in 1963, CVS has grown significantly, especially after acquiring Aetna in 2018 for $69 billion, which expanded its healthcare services 3.
- Walgreens: Established in 1901, Walgreens has also expanded its footprint and is the second-largest pharmacy chain in the U.S. after CVS 1.
Market Position: As of 2021, CVS was ranked 4th on the Fortune 500 list, while Walgreens was positioned as a major competitor in the retail pharmacy sector 3 1.
Ownership Structure: CVS is publicly traded, with significant institutional investors like Vanguard and BlackRock holding substantial shares 6. Walgreens Boots Alliance is similarly structured, with its own set of institutional investors 4.

Analysis

The claim that CVS and Walgreens are owned by the same company lacks factual support. Both companies are publicly traded and operate independently. Here’s a critical evaluation of the sources:

Wikipedia: The entry on Walgreens provides a foundational understanding of the company but may lack depth in discussing CVS. Wikipedia is generally reliable but should be cross-verified with more specialized sources 1.
CliffsNotes: This source discusses the dividend histories of both companies, which indicates their independent operations but does not directly address ownership. While CliffsNotes is a reputable educational resource, it may not be the most authoritative on corporate structure 2.
Organimi: This source offers a detailed overview of CVS's organizational structure, including its acquisition of Aetna. It is a credible source for understanding CVS but does not provide information about Walgreens 3.
Aiswers.com: This source explicitly states that CVS and Walgreens are distinct companies, which aligns with the consensus among other sources. However, the website's credibility is questionable due to a lack of transparency regarding its authorship and sourcing 4.
Forbes: This article discusses Walgreens' financial challenges and its independent status, providing a current perspective on the company’s operations. Forbes is a well-respected publication, making this source reliable 7.
Liquid Image Co.: This source reiterates the independence of both companies, but it does not provide substantial evidence or detailed analysis, which raises questions about its depth of coverage 8.
InsuredAndMore: This source discusses ownership stakes in CVS but does not clarify the relationship between CVS and Walgreens, limiting its relevance to the claim 10.

Conclusion

Verdict: False

The claim that CVS and Walgreens are owned by the same company is false. The evidence clearly indicates that CVS Health Corporation and Walgreens Boots Alliance are two distinct entities, each publicly traded and operating independently. Key sources confirm their separate ownership structures, including reputable publications like Forbes and detailed organizational analyses.

However, it is important to acknowledge that while the majority of sources support this conclusion, some sources may lack depth or credibility, which could lead to misunderstandings. Readers should be aware that misinformation can spread easily, particularly in the context of corporate ownership, and should critically evaluate the information they encounter.

In summary, the assertion that CVS and Walgreens are under the same corporate umbrella is unfounded. As always, it is advisable for readers to seek out reliable sources and verify claims independently to form well-informed opinions.