November 6, 2017 / 12:09 PM / 17 days ago

CVS Health's profit drops 17 pct

Nov 6 (Reuters) - CVS Health Corp, which is said to have offered to buy health insurer Aetna Inc, reported a 17 percent drop in quarterly profit on Monday, hurt by lower prices and reimbursements in its pharmacy business.

The company’s third-quarter results were also hit by the loss of some contracts to fill prescriptions.

Net income attributable to the company fell to $1.29 billion, or $1.26 per share, in the quarter ended Sept. 30, from $1.54 billion, or $1.43 per share, a year earlier.

Revenue rose 3.5 percent to $46.18 billion. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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