CVS Reaps Benefits from Covid Services -- Market Talk
Dow Jones
CVS highlights how its role in Covid-19 testing and vaccination is bolstering its business, helping to make up for the impact of a weak flu, cough and cold season. Through April, the company has administered more than 23 million tests and 17 million shots, though it notes a drop-off of around 30% recently due to vaccine hesitancy. CEO Karen Lynch says that in April, "vaccinated customers are more actively shopping in CVS locations." For customers new to the company through Covid testing, the company is seeing around 9% filling a new prescription at a CVS pharmacy. Vaccination and testing were big drivers of an 80% increase in visits to CVS's digital properties.