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Omnicare

CVS sales, earnings top Wall Street estimates

CVS sales, earnings top Wall Street estimates

WOONSOCKET, R.I. — Pharmacy gains propelled CVS Health’s second quarter results ahead of Wall Street’s expectations. Retail sales for the three months ended June 30 climbed 5.7% to $20.7 billion, despite less front-end traffic. Overall same-store sales rose 5.9%. Pharmacy sales jumped 8.3% from a year ago, while same-store front-end sales dipped 1%. CVS’ revenue advanced

CVS extends kudos to its pharmacists

CVS extends kudos to its pharmacists

WOONSOCKET, R.I. — CVS Health is honoring the patient care efforts of its 30,000 pharmacists as part of the annual American Pharmacists Month observation in October. CVS noted that its pharmacy teams are playing an increasingly important role in helping people lead healthier live by improving access to care and lowering costs for the millions

CVS Health names Jon Roberts chief operating officer

CVS Health names Jon Roberts chief operating officer

WOONSOCKET, R.I. — CVS Health has named Jon Roberts to the new position of executive  vice president and chief operating officer. Roberts, who was president of the CVS Caremark pharmacy benefits management unit, will continue to report to CVS Health president and chief executive officer Larry Merlo. The company said that in his new position

CVS Health closes fiscal year on high note

CVS Health closes fiscal year on high note

WOONSOCKET, R.I. — CVS Health topped Wall Street’s earnings-per-share forecast and, driven largely by its PBM unit, saw double-digit sales gains for the 2016 fourth quarter and full year. CVS said Thursday that for the fourth quarter ended Dec. 31, revenue totaled $45.97 billion, up 11.7% from $41.15 billion a year earlier. For the 2016

Larry Merlo named Health Care Exec of the Year

Larry Merlo named Health Care Exec of the Year

WOONSOCKET, R.I. — As Larry Merlo sees things, health care delivery in the United States is a tale of two incompatible models, a costly, inefficient one rooted in the past, and another focused on a future of increased patient access, improved outcomes and lower costs. “At the moment, it’s as if we have two health

Pharmacy boosts CVS Health in second quarter

Pharmacy boosts CVS Health in second quarter

WOONSOCKET, R.I. — Rising PBM and specialty pharmacy sales and recently acquired pharmacy businesses lifted revenue at CVS Health Corp. for the second quarter, with adjusted earnings per share topping Wall Street’s consensus forecast. CVS Health said Tuesday that for the second quarter ended June 30, sales climbed 17.6% to $43.73 billion from $37.17 billion

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 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

McKesson, CVS sign new pact for Target Rx

McKesson, CVS sign new pact for Target Rx

SAN FRANCISCO — McKesson Corp. announced a new distribution pact with CVS Health for Target pharmacies in updating its earnings outlook for fiscal 2016 and providing preliminary guidance for fiscal 2017. McKesson said that for the 2016 fiscal year ending March 31, it now projects adjusted earnings per diluted share of $12.60 to $12.90, compared

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

Status quo in retail pharmacy won’t suffice

Status quo in retail pharmacy won’t suffice

In many significant ways, the chain drug store business looks very different at the start of 2016 than it did a year ago. Walgreens Boots Alliance, which emerged from a two-step merger process at the close of 2014, spent the past 12 months rationalizing operations in the United States and developing synergies with its retail

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

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

CVS Health closes Omnicare acquisition

CVS Health closes Omnicare acquisition

WOONSOCKET, R.I. — CVS Health has finalized its $12.9 billion acquisition of Omnicare, a leading provider of pharmacy services to long-term care facilities. The completion of the deal, announced Tuesday, came well ahead of the timetable that CVS initially reported when it unveiled the Omnicare acquisition agreement in May. At the time, CVS said it