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Retail Top 100 2012, No. 46: CVS/Caremark

September 17, 2012

Reversing two years of decline, CVS/Caremark expects 2012 profits to grow 11 percent to 15 percent based on its acquisition of Universal American Corp.'s Medicare Part D business, a deal with health insurer Aetna Inc., better drug pricing, and billions of dollars in new contract wins. Furthermore, chief rival Walgreen Co. has failed to replace its contract with employee-benefits manager Express Scripts. Valued at more than $5 billion in annual drug sales, the lapsed contract will put approximately 90 million prescriptions up for grabs. With 43 percent of CVS stores located within one mile of a Walgreens (85 percent are within five miles), CFO Dave Denton expects to pick up as many as 23 million of those prescriptions, which would boost profits by as much as 11 cents a share.

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