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CVS
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The Annual Report Project
CVS annual Report A- Introduction: • Name of the chief executive officer: Tom Ryan • Location of the home office: Florida • Ending date of the latest fiscal year: January 1, 2005. • Description of the company’s principal products: operates in the retail drugstore industry in the United States. The Company operates in two segments: Retail Pharmacy and Pharmacy Benefit Management (PBM). The Company sells prescription drugs and an assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, film and photo finishing services, seasonal merchandise, greeting cards and convenience foods, through its CVS/pharmacy retail stores. • Main geographic area of activity: United States of America (36 states). • Name of the Auditor and his opinion regarding the financial statements: KPMG LL : these financial statement represented fairly in accordance with the standards of the public company Accounting oversight Board (United States). • The most recent price of the company’s stock was 45.07 on December 31st , 2004. • The dividend per share was $0.265 on January 1st , 2005. b- Industry situation and company plans: There was a temporary slowdown in industry prescription growth, which is due to number of factors. They include the slow pace of new drug approvals, higher co-pays and growing co-insurance arrangements. The industry is hard at work discovering new drugs. The company expect to be significant participan...
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