CVS stock climbs 47% in the last 12 months, after stopping sales of tobacco (Associated Press)
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The nation’s second-largest drugstore chain said Tuesday that revenue from its biggest business, the pharmacy benefits management segment, jumped 12 percent to more than $24 billion, spurred in part by specialty drugs. CVS’ stock has climbed 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased nearly 2 percent. The stock has increased 47 percent in the last 12 months.
Last year, CVS stopped selling tobacco because it is trying to burnish its image as a health care services provider. Read more in the August 4 Associated Press Story.