CVS Removes Ineffective Cold Medicines from Shelves

CVS is voluntarily removing oral cold medicines containing only phenylephrine from its stores.

An FDA advisory panel recently said phenylephrine is ineffective as a decongestant.

Products containing phenylephrine account for $1.8 billion in annual sales.

It's unclear if other pharmacies like Walgreens and Rite Aid will also remove these medications.

The FDA has not yet banned or restricted phenylephrine products, but CVS is taking action in response to the advisory panel's recommendation.