CVS Shuts Mail-Order Facility After Poor 3rd Quarter

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Pharmaceutical retailer CVS Corp. plans to close a mail order facility for its ProCare long-term care pharmacy program after suffering disappointing third-quarter earnings, the company said yesterday.

The closing of the mail-order facility was part of a general downsizing that included the shutdown of a distribution center and 200 retail pharmacies.

The mail order facility was one of two of its kind operated by CVS to support direct-to-consumer sales for the ProCare specialty pharmacy.

ProCare offers home delivery of medicines for consumers on maintenance drug regimens and other complex medical programs.

Providence, RI-based CVS reported third-quarter 2001 earnings of $124 million, a 16 percent decrease from the same period last year.


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