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CLAIM #18539 · CVS Health Corp (CVS) · 2025Q1 earnings call · May 1, 2025 · due Dec 31, 2025

The first is the front store, in which we currently source the vast majority of our front store items in American-based companies today, so we do not see a significant impact as it relates to tariffs.

David Joyner · CEO

PENDING
graded after results covering Dec 31, 2025 are reported

In context

ial other impact to the business. Thank you so much. David Joyner: Yes, thanks Elizabeth. The first answer on the Wegovy announcement is it is not impacting our guidance and it’s not factored in, so this will be obviously savings that we will deliver for our customers. The customers will get the benefit of our negotiated savings, and I think as we look at--it’s unknown at this point how the migration from the compound pharmacies into other pharmacy settings are going to occur, but we do expect that there will be obviously some benefit by opening up 9,000 stores, 9,000 opportunities for patients to be able to get their medication. As it relates to tariffs, it’s obviously a very fluid environment and there’s many variables in play at the moment. We look at it really in three different ways. The first is the front store, in which we currently source the vast majority of our front store items in American-based companies today, so we do not see a significant impact as it relates to tariffs. Where we are looking at impacts, we’re looking at alternative sourcing and/or diversifying the suppliers. As it relates to the pharma supply chain, there is a lot of--what I would say, a lot of variables that will go into how this will be impacted, depending on how we’re dealing with both the country of origin, as well as how we’re looking at brands versus generics. If I look at even the Novo announcement for GLP-1s, they manufacture that product here in the U.S., so that will obviously get the benefit of U.S.-based manufacturing and be able to not be impacted by the tariffs. We’re obviously watching closely the announcements that will be made over the course of the next week or so as it relates to how we’re going to be dealing with tariffs with the pharmaceutical supply chain. As it rela

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SEC filings for CVS · Claim quote is verbatim from the 2025Q1 earnings call.