NEW YORK May 1 CVS Caremark Corp posted
higher quarterly profit on Wednesday, as a more severe cold and
flu season boosted sales and more new generic drugs hit the
CVS said net income rose to $956 million, or 77 cents per
share, in the quarter ended March 31, from $776 million, or 59
cents, a year earlier.
Revenue in the pharmacy benefits management (PBM) unit,
which administers drug benefits for employers and health plans
and runs a large mail order pharmacy, rose 0.1 percent to $18.31
billion. Revenue in the retail division rose 0.2 percent to
Overall revenue slipped 0.1 percent to $30.76 billion in the
quarter, but was above the $30.36 billion that Wall Street
expected, according to Thomson Reuters I/B/E/S.