
Longs Drugs is owned by CVS Health (NYSE: CVS), a publicly traded healthcare company headquartered in Woonsocket, Rhode Island. CVS acquired Longs Drug Stores in October 2008 for $2.54 billion. Founded in 1938 by brothers Thomas and Joseph Long in Oakland, California, Longs now operates approximately 70 stores exclusively in Hawaii. Mainland stores were rebranded to CVS Pharmacy after the acquisition.
Parent Company
Acquired
2008
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Longs Drugs | CVS Health Corporation | Wholly owned |
Longs Drugs was founded in 1938 by brothers Thomas J. Long and Joseph Long as Longs Self-Service Drugs. The first store opened on Piedmont Avenue in Oakland, California, with a loan from Joseph's father-in-law Marion Barton Skaggs, co-founder of Safeway Inc. The company incorporated as Longs Stores in 1946.
The first Longs Drugs store in Hawaii opened on March 29, 1954, in Honolulu. This location marked the beginning of the brand's deep connection to the Hawaiian market. In 1961, the company adopted the Longs Drug Stores name and was first listed on the NASDAQ. The chain's 50th store opened in 1970, and by 1971, Longs reported sales of $169 million from 54 stores and was publicly listed on the New York Stock Exchange.
Throughout the 1970s and 1980s, Longs expanded across the western United States, operating stores in California, Nevada, Arizona, Alaska, Colorado, Oregon, Utah, and Washington. The company was headquartered in Walnut Creek, California. Longs became known for its community involvement, competitive pricing, and customer service, developing a loyal customer base particularly in Hawaii where the brand maintained dominant market share.
By the early 2000s, Longs faced increasing competition from national drugstore chains. Joseph Long retired as CEO in 2000, the first time a member of the founding family was not leading the company. The company struggled against larger chains that had greater purchasing power and more advanced supply chain operations.
On August 12, 2008, CVS Caremark Corporation (now CVS Health) announced it would acquire Longs Drug Stores for $71.50 per share, totaling approximately $2.54 billion. Walgreens made a competing bid in September 2008, offering a premium over CVS's price, but Longs shareholders rejected the Walgreens offer citing regulatory concerns about store overlap. Walgreens withdrew its bid on October 8, and CVS completed the acquisition on October 30, 2008, securing 78.07% of Longs shares.
Following the merger, CVS closed the Longs corporate offices in Walnut Creek, California, and approximately 800 employees were let go. Mainland Longs stores were rebranded to CVS Pharmacy by the end of 2009. In Hawaii, CVS retained the Longs Drugs name due to its strong brand equity and local recognition. The 39 Hawaiian stores at acquisition have since been supplemented with additional locations, while some underperforming stores have been closed.
In recent years, CVS has invested in the Hawaiian Longs Drugs network, acquiring independent pharmacy locations and rebranding them under the Longs name. However, several stores have also been closed, including locations in Honolulu, Hilo, Wahiawa, Ewa Beach, and Ward Village between 2019 and 2025.
What does CVS Health own?
CVS Health owns CVS Pharmacy (nearly 10,000 retail locations), CVS Caremark (pharmacy benefits management), Aetna (health insurance), MinuteClinic (retail health clinics), Oak Street Health (Medicare primary care), Omnicare (long-term care pharmacy), Navarro Discount Pharmacies, Longs Drugs, and Coram (infusion and home health services). These brands operate across three segments: Health Care Benefits, Health Services, and Pharmacy and Consumer Wellness.
Is CVS Health publicly traded?
Yes. CVS Health Corporation is publicly traded on the New York Stock Exchange under the ticker symbol CVS. The company is a component of the S&P 500 and is owned by institutional investors, mutual funds, and individual shareholders. There is no parent company or controlling shareholder.
Who founded CVS Health?
The original Consumer Value Store was founded in 1963 in Lowell, Massachusetts by Stanley Goldstein, Sidney Goldstein, and Ralph Hoagland. The company began as a health and beauty products retailer and added pharmacy departments in 1967. It was acquired by Melville Corporation in 1969 and spun off as an independent public company in 1996.
Where is CVS Health headquartered?
CVS Health is headquartered in Woonsocket, Rhode Island, USA. The company's corporate offices, including executive leadership, finance, and strategic operations, are based in Woonsocket, with additional operational offices across the United States.
How many brands does CVS Health own?
CVS Health owns approximately 9 brands across its three operating segments. The most prominent are CVS Pharmacy, CVS Caremark, Aetna, MinuteClinic, Oak Street Health, and Omnicare. The company also operates smaller regional brands including Navarro Discount Pharmacies and Longs Drugs.
Who owns CVS Health?
CVS Health is an independent publicly traded corporation with no parent company. The company is owned by institutional investors, mutual funds, and individual shareholders who hold its NYSE-listed common stock. Major institutional holders include Vanguard Group, BlackRock, and State Street Corporation. There is no founder control or dual-class share structure.
What were CVS Health's recent financial results?
For FY2025, CVS Health reported record revenue of $402.1 billion, up 7.8% year over year, and adjusted EPS of $6.75. In Q2 2026, revenue was $106.1 billion, up 7.3%, with adjusted EPS of $2.58, beating analyst estimates of $1.85. Net income nearly tripled to $3 billion. The company raised its 2026 guidance to at least $414 billion in revenue and adjusted EPS of $7.90 to $8.10.
Has CVS Health made major acquisitions recently?
The most recent major acquisitions were Oak Street Health for approximately $10.6 billion and Signify Health for approximately $8 billion, both in 2023. The largest acquisition in company history was Aetna for approximately $69 billion in 2018. CEO David Joyner has indicated the company has the capital and leadership bandwidth to pursue additional deals across its three business areas.
Longs Drugs operates under CVS Health's corporate sustainability framework, known as Healthy 2030. This strategy encompasses four pillars: Healthy People, Healthy Business, Healthy Community, and Healthy Planet. CVS Health publishes annual impact reports detailing progress across these areas.
Medication Disposal: Longs Drugs participates in CVS Health's medication disposal programs, providing safe disposal of expired and unused medications. These programs help prevent environmental contamination and reduce the risk of prescription drug misuse. CVS Health reports metrics on waste reduction and responsible disposal practices across its pharmacy network.
Store Operations: Longs Drugs stores implement energy efficiency measures including LED lighting, efficient HVAC systems, and waste reduction programs. CVS Health has set targets for increasing the percentage of non-medical waste recycled across its retail locations. However, Longs Drugs does not hold independent environmental certifications such as LEED for its individual store locations.
Supply Chain: CVS Health assesses suppliers based on environmental practices, labor standards, and ethical business conduct. Longs Drugs' Hawaiian supply chain includes local distributors that support the island economy while reducing transportation emissions where possible. However, the geographic isolation of Hawaii means most products must be shipped long distances.
Opioid Compliance: Following significant litigation related to opioid dispensing practices (detailed in the Recalls and Controversies section), CVS Health has implemented enhanced compliance programs across all pharmacy locations, including Longs Drugs stores. These programs include stricter prescription monitoring, enhanced staff training, and improved systems for identifying suspicious prescription orders.
Longs Drugs does not hold B Corp certification, and no independent third-party environmental audits specific to the Longs Drugs brand are publicly available. Sustainability claims are reported at the CVS Health corporate level.
Longs Drugs has received recognition primarily for its community presence in Hawaii rather than through formal industry awards. The brand's deep integration into Hawaiian communities has been acknowledged by local business organizations and community groups.
Business View Magazine has featured Longs Drugs for its community support and healthcare innovation in Hawaii. The brand's localized business model, which combines in-store and online services while partnering with local organizations, has been cited as an effective approach to community healthcare delivery in an island market.
As part of CVS Health, Longs Drugs benefits from the parent company's broader recognition. CVS Health has been included in the Fortune 500 and has received recognition from healthcare industry organizations for its integrated care models and pharmacy services. However, specific independent awards for the Longs Drugs brand entity are limited, as the brand operates as a regional division rather than a standalone company.
Opioid Crisis Litigation: CVS Health, including its Longs Drugs subsidiary, has been involved in major litigation related to the opioid crisis. In December 2022, CVS agreed to pay approximately $5 billion over 10 years to settle thousands of lawsuits claiming the company contributed to the opioid epidemic by dispensing opioid prescriptions despite red flags. The settlement was part of a broader agreement involving CVS, Walgreens, and Walmart totaling over $13 billion to resolve more than 3,000 lawsuits from states, municipalities, and Native American tribes.
Department of Justice Lawsuit (2024): In December 2024, the U.S. Department of Justice filed a civil lawsuit against CVS Pharmacy Inc. and subsidiaries, alleging that CVS knowingly filled unlawful prescriptions for controlled substances in violation of the Controlled Substances Act. The complaint, unsealed in Providence, Rhode Island, claims CVS dispensed suspicious opioid prescriptions despite red flags and sought reimbursement from federal healthcare programs. This litigation affects all CVS Health pharmacy operations, including Longs Drugs stores in Hawaii.
Store Closures in Hawaii: Between 2019 and 2025, CVS Health closed several Longs Drugs locations in Hawaii, including stores in Honolulu (two closures in 2019 and 2022), Hilo (2022), Wahiawa (2022), Ewa Beach (June 2024), and Ward Village (June 2025). These closures have drawn community concern in Hawaii, where Longs Drugs is viewed as a local institution. Community leaders and residents have expressed concern about reduced access to pharmacy services in affected neighborhoods.
Competition with Walgreens: Since Walgreens entered the Hawaii market in 2007, Longs Drugs has faced increased competition. Walgreens has expanded to approximately 25 to 30 locations in Hawaii, challenging Longs' historically dominant position. Some industry analysts have questioned whether CVS Health's investment in the Longs brand in Hawaii is sufficient to maintain market share against Walgreens' expansion.
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| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Cvs Health | USA | 1963 | Mass market | United states | All Genders | |
| Cvs Health | United States | 1940 | Mass market | Regional | All-ages | |
| Cvs Health | USA | 1981 | Mass market | United states | All-ages | |
| Amazon | USA | 2020 | Mass market | United states | All Genders | |
| Cvs Health | USA | 1984 | Mass market | United states | All Genders | |
| Cvs Health | USA | 2000 | Mass market | United states | All-consumers |
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