The company’s pharmacy services business experienced a 22 percent increase in revenue climbing to $23.9 billion for the three months ended Dec. 31, 2014, according to the report. The increase is attributed in the report to “continued growth in specialty-pharmacy sales after the acquisition of Coram Specialty Infusion Services.” In 2013, CVS, then CVS Caremark, entered into an agreement to acquire the specialty infusion services of Coram from Lake Forest, Calif.-based Apria Healthcare Group for roughly $2.1 billion.
The Wall Street Journal reported that pharmacy network claims grew 8.2 percent, largely due to growth in its Medicaid programs, and overall sales, with the exception of newly opened or closed stores, rose 1.6 percent, “as a 5.5 percent gain in pharmacy sales helped to counter a 7.2 percent decline in sales at the front of the store.” The company stopped selling cigarettes at the front in September 2014.
CVS said in the report that it anticipates $1.06 to $1.09 in per-share earnings for the current fiscal quarter.
More articles on healthcare finance:
Virginia hospitals provide $3B in community support
Moody’s: Healthcare sees more upgrades than downgrades in Q4
IASIS Healthcare’s bottom line suffers after exiting Nevada and Florida markets
