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CVS raises full-year adjusted profit forecast on COVID test, vaccine demand -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A CVS Pharmacy is seen by people in Manhattan, New York City. This was November 30, 2017. REUTERS/Shannon Stapleton/File Photo

(Reuters) -CVS Health Corp has raised its full-year adjusted profits forecast for Wednesday, boosted in part by strong demand and positive tests following a surge of cases involving the virulent Delta virus variant.

In the aftermath of the Delta-led infected, the United States intensified its efforts to address the public health crisis. Major employers were required to immunize their employees and to test them each week. Boosters for certain age groups and populations at high risk were also authorized.

Rival Walgreens Boots Alliance NASDAQ: also saw an increased demand for vaccines after the release of the variant.

CVS recorded a 10% jump in quarterly sales during the third quarter. The increase was due to pharmacy growth and its pharmacy benefits business.

CVS anticipates that adjusted earnings per share will range from $7.70 to $5.80 in the past to $7.90 and $8.00 now.

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