CVS Caremark Corp posted a bigger-than-anticipated rise in fourth-quarter profit on Wednesday, helped by growth at both its pharmacy services business and its CVS drugstore chain, and made its first international push by buying a Brazilian retailer.CVS Caremark said it bought Drogaria Onofre, Brazil's eighth-largest drugstore chain by sales, last week. The move comes months after larger U.S. drugstore rival Walgreen Co stepped out of the United States for the first time when it bought a 45 percent stake in Europe's Alliance Boots , with the option to purchase the rest of it in about three years.Drogaria Onofre, with 44 stores in Brazil, is a small international start for CVS, which has more than 7,400 U.S. drugstores."It's a toe in the water; it's not financially material to our numbers this year," CVS Chief Executive Officer Larry Merlo told Reuters.
CVS Caremark Corporation (CVS Caremark), together with its subsidiaries, is a pharmacy health care provider in the United States. Shares of CVS traded higher by 0.17% or $0.09/share to $51.81. In the past year, the shares have traded as low as $42.43 and as high as $52.73. On average, 6536410 shares of CVS exchange hands on a given day and today's volume is recorded at 1254516.
Walgreen Co. (Walgreens), together with its subsidiaries, operates the drugstore chain in the United States. Shares of WAG fell by 0.21% or $-0.085/share to $41.24. In the past year, the shares have traded as low as $28.53 and as high as $41.61. On average, 6664270 shares of WAG exchange hands on a given day and today's volume is recorded at 1219481.
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