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President Obama is praising CVS Caremark's announcement Wednesday that it will stop selling tobacco products at its 7,600 pharmacies, and begin a campaign to discourage smoking by Americans.

"As one of the largest retailers and pharmacies in America, CVS Caremark sets a powerful example, and today's decision will help advance my administration's efforts to reduce tobacco-related deaths, cancer, and heart disease, as well as bring down health care costs — ultimately saving lives and protecting untold numbers of families from pain and heartbreak for years to come," Obama said in a statement.

RELATED: CVS Caremark plans stop selling tobacco products

Obama, who has been a smoker himself, lauded CVS Caremark CEO Larry Merlo, the company's board of directors, and "all who helped make a choice that will have a profoundly positive impact on the health of our country."