Despite the absence of top line growth at Walmart’s U.S. stores division, second-quarter earnings grew 12.4% to $1.09 and came in a penny ahead of analysts’ estimates, which was enough for the company to narrow and increase the range of its full-year profit forecast.
CVS Caremark posted second-quarter results that were at the high end of its guidance and narrowed its 2011 outlook on continued confidence. But it was the pharmacy benefit management business — and the potential merger of PBM rivals Express Scripts and Medco Health Solutions — that was top of mind for many industry observers, and was a topic that CVS Caremark president and CEO Larry Merlo hit head-on at the start of Thursday morning’s conference call.
July same-store sales at Target rose 4.1% on top of a prior-year gain of 2%, with increased transaction size serving as the primary driver of an increase toward the upward end of the company’s guidance.
Five trade associations representing the dietary supplement industry on Wednesday collectively requested a time extension to provide comments concerning the recent draft guidance on new dietary ingredient notifications that was recently issued by the Food and Drug Administration.
CVS Caremark is gearing up for flu season and will leverage both its CVS/pharmacy locations and MinuteClinic sites to provide flu shots for patients every day, including evenings and weekends, and will offer direct medical billing to many national and regional health plans that will cover all or part of the cost of a flu shot.
Lowering the maximum corporate tax rate could allow CVS Caremark to accelerate investments in U.S. jobs, technology and infrastructure — all of which could ultimately help lower healthcare costs and bolster the economy. That was a key message that CVS Caremark president and CEO Larry Merlo had for the Senate Finance Committee during a recent hearing.
CVS Caremark, through its All Kids Can program, has partnered with Easter Seals over the past six years to support children at risk of autism, developmental delays or disabilities. CVS Caremark is continuing its support by investing in Easter Seals' Make the First Five Count initiative to help assure children receive critical early intervention services.
GlaxoSmithKline expects to close the deal on the divestiture of several over-the-counter brands that were identified in April, the company stated Tuesday as part of its second-quarter earnings results.