CVS Caremark raises 2012 estimate of impact from Walgreens-Express Scripts stalemate

WOONSOCKET, R.I. — In light of Thursday’s news that Walgreens will re-enter Express Scripts' broadest network on Sept. 15, CVS Caremark stated that it now is better able to clarify what it believes will be the overall estimate of the impact from the impasse for the remainder of 2012.

Given that the impasse is expected to last for nearly nine months and that the company expects to retain at least 50% of the business gained from the impasse in the fourth quarter, CVS Caremark stated that it now expects an additional benefit from the impasse in the third and fourth quarters combined of approximately 5 cents per share.

CVS Caremark’s existing guidance only reflects the estimated benefit from the stalemate continuing through the end of the second quarter.