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CVS Buys Fred’s Specialty Pharmacy Business for $40 Million

CVS Buys Fred’s Specialty Pharmacy Business for $40 Million

On May 7, Fred’s (FRED) said that CVS Health (CVS) has agreed to purchase some of the assets of its specialty pharmacy business, EntrustRx, for $40 million. Fred’s has been looking to turn around its financials by reducing debt and generating positive earnings and free cash flow. CVS is among leading US providers of specialty pharmacy services.