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Larry Merlo

CVS Health sees sales surge in 1Q

CVS Health sees sales surge in 1Q

WOONSOCKET, R.I. — CVS Health reported strong sales gains and topped Wall Street’s consensus earnings forecast for the 2016 first quarter. CVS said Tuesday that for the three months ended March 31, overall revenue climbed 18.9% to $43.2 billion from $36.3 billion a year earlier. Sales in the Retail/LTC Segment, which includes CVS Pharmacy drug stores

CVS recognized as retail health innovator

CVS recognized as retail health innovator

Fast Company, one of the more appealing and relevant business publications to have come along in recent years, recently compiled a list of the world’s 50 most innovative companies. Several familiar names were included, perhaps most notably to retail students, CVS Health. Not surprisingly, Fast Company presented a strong case for CVS’ inclusion, but it

CVS launches first pharmacies within Target stores

CVS launches first pharmacies within Target stores

WESLEY CHAPEL, N.C. — CVS Health has debuted its first rebranded pharmacies inside Target Corp. stores. The pharmacies, in six stores in North Carolina, are being operated through a store-within-a-store format under the CVS/pharmacy banner. CVS, which completed its $1.9 billion purchase of Target’s 1,672 pharmacies and 79 clinics in December, will rebrand the prescription

CVS Health sees strong finish to 2015 fiscal year

CVS Health sees strong finish to 2015 fiscal year

WOONSOCKET, R.I. — CVS Health saw sales climb by double digits for the 2015 fourth quarter and fiscal year, fueled in large part by its acquisition of long-term care pharmacy provider Omnicare Inc., while adjusted earnings per share were in line with Wall Street’s forecast. CVS said Tuesday that revenue for the fourth quarter ended

CVS Pharmacy makes Target debut

CVS Pharmacy makes Target debut

WOONSOCKET, R.I., and MINNEAPOLIS — The first CVS pharmacies have opened in six Target discount stores in North Carolina. Branded as CVS Pharmacy, the pharmacies are being operated as store-within-a-store departments and are located in Hickory, Monroe, Morrisville, Raleigh, Matthews and Wesley Chapel, N.C. Executives from CVS Health and Target Corp. — including CVS Pharmacy

Walgreens, Valeant sign distribution pact

DEERFIELD, Ill. — Walgreens and Valeant Pharmaceuticals International Inc. have inked a distribution deal that will cut prices of Valeant prescription products at Walgreens by 10%, and may be extended to independent retail pharmacies. The discount will apply to wholesale list prices and will be phased in over the next six to nine months. The

CVS takes ownership of Target pharmacies

WOONSOCKET, R.I. — CVS Health Corp. has completed the acquisition of Target Corp.’s pharmacy and clinic businesses, making CVS the No. 1 drug chain by store count and sales. With the closing of the $1.9 billion deal, CVS has picked up Target’s 1,672 pharmacies across 47 states, giving it more than 9,500 prescription counters. Walgreens

CVS well positioned to create value in health care

CVS well positioned to create value in health care

NEW YORK — CVS Health has raised the midpoint of its earnings outlook for 2016 and reiterated its five-year steady state targets. The company now expects next year’s adjusted earnings per share to range from $5.73 to $5.88, reflecting solid year-over-year growth of 11.25% to 14.25%. The bottom end of the range was increased by

CVS closes purchase of Target pharmacies, clinics

CVS closes purchase of Target pharmacies, clinics

WOONSOCKET, R.I., and MINNEAPOLIS — CVS Health has completed its $1.9 billion acquisition of Target Corp.’s pharmacy and retail health clinic business. The companies said Wednesday that Target’s 1,672 pharmacies in 47 states will be branded as CVS/pharmacy and operated under a store-within-a-store format. A CVS/pharmacy will be in all new Target stores that offer

CVS Health’s Merlo: ‘No one is better positioned’

CVS Health’s Merlo: ‘No one is better positioned’

NEW YORK — At its annual Analyst Day event here, CVS Health updated its earnings guidance for 2016 and reiterated its five-year targets. “Over the past several years, CVS Health has been preparing for the changes in the health care landscape by expanding our extensive suite of leading assets and capabilities,” said president and chief

Questions abound as ’15 draws to a close

Questions abound as ’15 draws to a close

The National Association of Chain Drug Stores held its year-end meetings in New York City early this month — and very little was as it had been a year ago. Many of the same familiar faces were on hand, and several of the same retail companies attended. But the yearlong series of events that have

Investment pros: Merlo is top food/drug retail CEO

Investment pros: Merlo is top food/drug retail CEO

Larry Merlo, president and chief executive officer of CVS Health, was named the No. 1 CEO in the food/drug retailing sector by Institutional Investor magazine. Merlo was part of the financial publication’s “2016 All-America Executive Team,” in which more than 2,000 portfolio managers and analysts were asked to name the best CEOs, CFOs and investor

CVS Health reports rise in revenue for 3Q

CVS Health reports rise in revenue for 3Q

WOONSOCKET, R.I. — CVS Health posted sales gains in both its retail pharmacy and pharmacy services businesses for the 2015 third quarter, with adjusted earnings per share (EPS) finishing in line with analysts’ projections. CVS also said Friday that it has expanded its business segments to incorporate operations from the Omnicare Inc. acquisition, which closed

Coming year will be crucial for the industry

Coming year will be crucial for the industry

As the year 2015 winds down, the chain drug community must face the reality that the coming year will be unlike any that has preceded it. The same drug chains still rule the U.S. landscape. But the content of their character and the face of the people who guide them are vastly different than in