Retail Pharmacy Weakness Pressures CVS’ Results; PBM Remains Steady
The weak results continue for CVS’ retail pharmacy segment, as revenue and profits declined for the unit in fiscal second quarter. Same-store sales were particularly pressured, as the pharmacy and front-store segments experienced a 2.8% and 2.1% decline, respectively. However, the firm did report some solid results from pharmacy benefit management, as revenue increased a robust 9.5% while operating margins remained flat. Although results from the retail side of CVS’ business remain disappointing...CVS Health is a health company. The company's segments are: Pharmacy Services, which provides a range of pharmacy benefit management solutions, including plan design offerings and administration, formulary management, and retail pharmacy network management services; Retail/Long-Term Care (LTC), which sells prescription drugs and general merchandise, including over-the-counter drugs, provides health care services through its MinuteClinic? walk-in medical clinics and conducts LTC pharmacy operations; and Health Care Benefits, which provides a range of voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental and behavioral health plans.
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