CVS 4th-quarter profit rises on higher prescription volume

Tue Feb 11, 2014 7:25am EST

Feb 11 (Reuters) - CVS Caremark Corp on Tuesday posted higher quarterly profit as it processed more prescriptions and benefited from the introduction of new generic drugs.

CVS, which operates the No. 2 U.S. drugstore chain and a major pharmacy benefits management business, earned $1.27 billion from continuing operations, or $1.05 per share, in the fourth quarter, up from $1.13 billion, or 90 cents per share, a year earlier.

Revenue rose 4.6 percent to $32.83 billion. Sales of general merchandise at stores open at least a year fell 1.9 percent as fewer shoppers came in to CVS' drugstores.

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