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CVS/Caremark Corporation March Revenue Increased 23.3% to a Record $4.8 Billion Excluding Caremark

Posted on: Thursday, 5 April 2007, 09:00 CDT

CVS/Caremark Corporation (NYSE: CVS) today announced that total revenue for the five-week period ended March 31, 2007 increased 23.3 % to $4.8 billion, compared to $3.9 billion in the prior year period. Total pharmacy revenue represented 69.8% of total company revenue in March. The Company noted the results included in this press release do not include any revenues generated by Caremark during the month of March. On March 22, 2007, CVS Corporation completed its merger with Caremark Rx, Inc., to form CVS/Caremark Corporation.

Same store sales (sales from stores open more than one year) for the five weeks ended March 31, 2007 increased 7.0% over the prior year period. Pharmacy same store sales increased 7.5%, and were negatively impacted by approximately 460 basis points due to recent generic introductions. Front-end same store sales increased 5.9%. Same store sales do not include the drugstores acquired on June 2, 2006, which will be included in same store sales following the one-year anniversary of the acquisition, beginning in fiscal July 2007.

As expected, March revenues were not significantly impacted by an earlier Easter (April 8th this year versus April 16th last year), as the Company has historically experienced the majority of revenue associated with Easter during the final days leading up to the holiday.

Year-to-date, total revenue for the thirteen-week period ended March 31, 2007, increased 23.3% to $12.3 billion, compared to $10.0 billion in 2006. Same store sales for the thirteen-week period increased 7.5% over the prior year period. Pharmacy same store sales increased 7.8%, while front-end same store sales increased 6.6%.

CVS/Caremark is the nation's premier integrated pharmacy services provider, combining one of the nation's leading pharmaceutical services companies with the country's largest pharmacy chain. The company fills or manages more than one billion prescriptions per year, more than any other pharmacy services provider. CVS/Caremark drives value for pharmacy services customers by effectively managing pharmaceutical costs and improving healthcare outcomes through its 6,200 CVS/pharmacy stores; its pharmacy benefit management, mail order and specialty pharmacy division, Caremark Pharmacy Services; its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. General information about CVS/Caremark is available through the Investor Relations portion of the Company's website, at http://investor.cvs.com, as well as through the pressroom portion of the Company's website, at www.cvs.com/pressroom.

Source: Business Wire

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