Summary
CVS Health Corporation's (CVS) 2013 10-K filing highlights its position as a leading integrated pharmacy healthcare provider in the United States. The company operates through two primary segments: Pharmacy Services (PBM) and Retail Pharmacy, supported by a Corporate segment. The Pharmacy Services segment offers a comprehensive suite of PBM services, including plan design, formulary management, and mail-order and specialty pharmacy operations, serving a diverse client base. The Retail Pharmacy segment encompasses over 7,600 retail drugstores, including the MinuteClinic subsidiary, and online pharmacies, with prescription drugs forming the majority of its revenue. Key strategic initiatives focus on leveraging its integrated model to manage costs and improve health outcomes for members and clients. This includes programs like Maintenance Choice and Pharmacy Advisor, designed to engage members and promote cost-effective behaviors. The company is also expanding its retail health clinic services through MinuteClinic, which offers convenient, cost-effective care, with a significant portion of its revenue coming from third-party payers. CVS Health emphasizes investment in technology and customer service across both its PBM and retail operations.
Financial Highlights
58 data points| Revenue | $126.76B |
| Cost of Revenue | $102.98B |
| Gross Profit | $23.78B |
| Operating Expenses | $15.75B |
| Operating Income | $8.04B |
| Interest Expense | $517.00M |
| Net Income | $4.59B |
| EPS (Basic) | $3.77 |
| EPS (Diluted) | $3.74 |
| Shares Outstanding (Basic) | 1.22B |
| Shares Outstanding (Diluted) | 1.23B |
Key Highlights
- 1CVS Health is the largest integrated pharmacy healthcare provider in the U.S., operating across Pharmacy Services and Retail Pharmacy segments.
- 2The Pharmacy Services segment managed approximately 902 million prescriptions in 2013, offering a full range of PBM services.
- 3The Retail Pharmacy segment operates over 7,600 stores, filling 734 million retail prescriptions in 2013, representing about 21% of the U.S. retail pharmacy market.
- 4MinuteClinic, the company's retail health clinic subsidiary, had 800 locations and anticipated opening 150 new clinics in 2014.
- 5In late 2013, CVS Health announced an agreement to form a generic pharmaceutical sourcing entity with Cardinal Health, Inc.
- 6The company repurchased approximately 66.2 million shares of common stock for $4.0 billion in 2013 under its share repurchase programs.
- 7Net revenues for the year ending December 30, 2013, reached $126.76 billion, with net income attributable to CVS Caremark at $4.59 billion.