CVS Caremark Posts Higher Profit
By: Reuters
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.
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.
