CVS Health Corporation
CVS
Health Care
3
exclusion reasons
3 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
CVS Health has documented NLRB cases alleging unlawful surveillance of union organizing and retaliation against workers exercising labor rights. ViolationTracker records multiple labor relations violations across the company's retail and pharmacy operations.
CVS paid $45M for deceptive PBM practices and $37.76M for over-dispensing insulin pens, causing patient harm. CVS also played a documented role in the opioid crisis through its pharmacy dispensing practices.
CVS Health spent $9.93M on federal lobbying in 2025 and $9.46M in 2024, and donated to dark money groups including America First Policies. Systematic use of corporate resources to shape healthcare policy for commercial advantage.
Research Sources
1 organization
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.