COVID-19 vaccines, prescriptions fuel strong quarter at CVS

CVS storefront. File photo by Steve Klamkin WPRO News

The Associated Press

COVID-19 vaccines and the return of customers to stores helped push CVS Health well past fourth-quarter earnings expectations.

But the pandemic’s unpredictability is making the drugstore chain and pharmacy benefit manager cautious heading into 2022.

It did not raise a 2022 forecast it laid out in December, and its shares started sliding early Wednesday.

Vaccines that helped boost fourth quarter sales could drop as much as 80% in the new year.

Company leaders also expect a decline in in-store diagnostic testing.

Plus they don’t know if there will be another surge in cases or round of vaccine boosters.

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