CEDAR GROVE - CVS pharmacy will no longer sell cigarettes and other tobacco products at more than 7,600 drugstores nationwide.

CEO Larry Merlo says the company decided it can no longer sell cigarettes at places where it also provides health care.

The chain is expanding clinical care by providing flu shots and other immunizations, and says it will stop selling tobacco, a known cancer-causer, to stay true to its mission of providing health care.

President Barack Obama is praising the decision, saying the company is setting a powerful example.

Obama also said the decision will bring down health care costs and help his administration's efforts to reduce tobacco-related deaths and disease.

CVS, the nation's second-largest drugstore chain, is phasing out tobacco products by Oct. 1, which will cost the company about $2 billion in lost revenue.

The chain is the first to make such a move.

For interview on CVS's decision to stop tobacco sales, watch the clip to the left or click News 12 Extra on Optimum TV channel 612.