CVS Health Corp. got a boost from its Medicaid business which helped offset retail sales declines in the wake of the company's decision to stop selling cigarettes. CVS's pharmacy services business posted a 22% increase in revenue to $23.9 billion for the three months through Dec. 31, driven by continued growth in specialty-pharmacy sales after the acquisition of Coram Specialty Infusion Services. Pharmacy network claims grew 8.2%, primarily because of growth in its Medicaid programs. Overall sales excluding newly opened or closed stores increased 1.6%, as a 5.5% gain in pharmacy sales helped to counter a 7.2% decline in sales at the front of the store, where cigarettes had been sold before the company discontinued their sale in September. [Subscription Required]
