CVS Health Has a Great Second Quarter, Raises Forecast
CVS Health beat Wall Street’s estimates and raised its full-year forecast. Shares rose on the news. The retailer’s pharmacy filled 19% more prescriptions than in the same period last year. It also benefitted from higher drug prices, an advantage that could go away as lawmakers propose to lower drug prices.
“We are transforming our company and the health-care industry and accelerating enterprise growth as we move forward,” CVS CEO Larry Merlo told analysts on a conference call.