FILE PHOTO: People walk by a CVS Pharmacy store in the Manhattan borough of New York City, New York, U.S., November 30, 2017. REUTERS/Shannon Stapleton/File Photo
November 3, 2021
(Reuters) -CVS Health Corp on Wednesday lifted its full-year adjusted profit forecast, boosted by robust demand for COVID-19 vaccinations and tests from a surge in cases led by the virulent Delta variant.
The United States stepped up efforts to combat the public health crisis in the wake of Delta-led infections, mandating major employers to inoculate their workers and test them every week and authorizing booster shots for some age groups and high-risk populations.
Rival Walgreens Boots Alliance also benefited from higher demand for vaccinations following the spread of the variant.
In the third quarter, CVS reported a 10% rise in quarterly sales, helped by growth at its pharmacies and at its pharmacy benefits management business.
CVS now expects adjusted earnings per share of $7.90 to $8.00, from $7.70 to $7.80 previously.
(Reporting by Manas Mishra and Amruta Khandekar in Bengaluru; Editing by Sriraj Kalluvila)
