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                                                                    EXHIBIT 23.1
 
                       [KPMG PEAT MARWICK LETTERHEAD LLP]
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
Board of Directors
CVS Corporation
 
     We hereby consent to the incorporation by reference in this registration
statement on Form S-3 of our reports dated February 6, 1997 appearing and
incorporated by reference in the Annual Report on Form 10-K of CVS Corporation
for the year ended December 31, 1996.
 
     Our reports dated July 16, 1997 which are based on our audits and the
report of other auditors, contain an explanatory paragraph that states that the
supplemental consolidated financial statements give retroactive effect to the
merger of CVS Corporation and Revco D.S., Inc. on May 29, 1997, which has been
accounted for as a pooling-of-interests as described in Note 1 to the
supplemental consolidated financial statements. Generally accepted accounting
principles proscribe giving effect to a consummated business combination
accounted for by the pooling-of-interests method in financial statements that do
not extend through the date of consummation. Those financial statements do not
extend through the date of consummation. However, they will become the
historical financial statements of CVS Corporation after financial statements
covering the date of consummation of the business combination are issued.
 
     Our reports dated July 16, 1997 are based on our audits and the reports of
other auditors.
 
     We hereby consent to the incorporation by reference in this registration
statement on Form S-3 of our reports dated July 16, 1997 appearing in the
Current Report on Form 8-K.
 
     We consent to the reference to our firm under the headings "Selected
Historical Consolidated Financial and Operating Data", "Selected Supplemental
Consolidated Financial Data" and "Experts" in the Registration Statement on Form
S-3.
 
                                            /s/ KPMG PEAT MARWICK LLP
 
Providence, Rhode Island
July 16, 1997
