CVS Health turns in better-than-expected 2Q even as pharmacy pricing, increased care use hurt

CVS Health topped second-quarter expectations, but the health care giant’s profit sank as pricing pressure hurt its drugstore business and rising medical costs hit the health insurance side. The company also booked a $496-million, pre-tax restructuring charge in the quarter and reaffirmed a forecast for the year that it had cut in May. CVS operates one of the nation’s largest drugstore chains with nearly 10,000 retail locations. It runs prescription drug plans for big clients like insurers and employers through a large pharmacy benefit management business. It also provides health insurance for more than 25 million people through its Aetna arm.