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CVS quarterly earnings soar 25 percent

CVS says 81 percent of prescriptions filled at its pharmacies are now generics.

Reuters/File 2010

CVS says 81 percent of prescriptions filled at its pharmacies are now generics.

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CVS Caremark’s earnings rose 25 percent as generic drugs and an improving pharmacy benefits management business let it beat forecasts. CVS also raised its 2013 earnings outlook, and investors pushed the stock to another record high. CVS earned $1.25 billion, or $1.02 per share, in the quarter ended Sept. 30. Revenue climbed nearly 6 percent to $31.97 billion. CVS now expects 2013 adjusted earnings of $3.94 to $3.97 per share, up from a previous forecast of $3.90 to $3.96.

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