CVS Ended 2021 With Big Increase in COVID At-Home Test Sales

by Madison Miller

The entire country, including individual people, families, small businesses, large corporations, non-profits, the medical industry, etc, is continuing to grapple with the ongoing COVID pandemic.

We’ve experienced two separate COVID variants so far. All of this factors into an increase in the demand for both COVID vaccines as well as more at-home testing kits. There are many places that offer free COVID testing results. Meanwhile, many gravitate toward purchasing a box to be able to quickly and safely complete it in their own home.

According to CNBC, this demand for at-home testing actually caused the company to exceed its regular fourth-quarter earnings. The company helped to administer over eight million COVID tests. It also distributed more than 20 million vaccines during this last business quarter. The company made $76.60 billion in revenue, compared to the expected $75.67 billion.

These vaccinations, tests, and over-the-counter test kits accounted for 40% of this increase in CVS’ quarterly revenue.

This is up from the 17 million in the second quarter and the 11.6 million in the third quarter. The Mayo Clinic website offers a comprehensive look at how many people are vaccinated in each state. For example, 62% of people are fully vaccinated in Illinois, compared to 68.6% in Colorado, 59.2% in Texas, 49.7% in Alabama, 69.5% in California, and 66.2% in Pennsylvania.

Places like CVS, as well as competitor Walgreens Boots Alliance, have both been vital in the U.S. response to this virus. CVS had recently been diving head-first into the healthcare world. It has an insurance business, Aetna, and a pharmacy benefits manager, Caremark, under its umbrella.

Changes in COVID Mask Policies

Several states have changed their COVID mask policies during the duration of this pandemic.

States like California and Deleware announced this week that the indoor mask mandate will be dropped soon. Connecticut and New Jersey are trying to eliminate masks in school. Meanwhile, Illinois Governor J.B. Pritzker just announced his plans to lift the mask mandate soon.

The U.S. Centers for Disease Control and Prevention, however, stands by its current guidelines and is stating that now is not the time to loosen any restrictions in place. The CDC still urges schools to have students wear masks, especially.

“Right now, we still have about 290,000 cases every single day, and our hospitalization rates now are higher than they even were at the peak of our Delta surge. So in this moment — while we are looking ahead and planning ahead, and we’ll continue to evaluate and follow the science — our recommendations are consistent with encouraging students to wear well-fitting masks,” the CDC Director Dr. Rochelle Walensky said, according to CNN.

There are still 99% of U.S. counties with high coronavirus transmission. There are also about 108,000 people currently in hospitals with the virus.