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CVS Caremark Posts Higher Profit

CVS Caremark posted higher quarterly profit Thursday, helped by the addition of Caremark's pharmacy benefits business and increased sales at drugstores open at least a year.

CVS , one of the largest U.S. drugstore operators, said profit for the third quarter rose to $689.5 million, or 45 cents a share, from $284.2 million, or 33 cents a share, a year earlier.

The quarter's results included 1 cent per share in costs related to its March acquisition of Caremark, which was part of a trend of drugstore chains moving to expand their businesses. The company has also been adding new stores in recent years.

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