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                                                                    EXHIBIT 23.2
 
                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
 
     As independent public accountants, we hereby consent to the use of our
reports dated July 15, 1997 and July 27, 1995 included in or made a part of this
Form 8-K of CVS Corporation dated July 17, 1997.
 
/s/ Arthur Andersen LLP
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Arthur Andersen LLP
 
Cleveland, Ohio
July 15, 1997