Summary Box: CVS Caremark 4th-quarter profit slips

Thu, 02/03/2011 - 6:45am
The Associated Press

THE RESULTS: CVS Caremark Corp. said its fourth-quarter profit slipped because of business lost by its Caremark pharmacy benefits management unit. The company expects better results in 2011, but said operating income at Caremark will continue to decline.

THE OUTLOOK: Caremark's income is expected to fall 5 to 9 percent, mainly because of costs connected to a new 12-year contract with Aetna Inc. That deal will become more profitable for Caremark over time.

THE BRIGHT SIDE: Results from Caremark are expected to improve as 2011 goes on, and the company said the businesses' profit will grow in 2012.


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