CVS expects 70%-80% drop in COVID vaccine administration in 2022

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(Reuters) – CVS Health Corp (NYSE:CVS) said on Wednesday it expects to administer 70% to 80% fewer COVID-19 vaccines in 2022 compared with last year, adding that in-store diagnostic testing could fall 40% to 50%.

The company administered more COVID-19 vaccine boosters in the fourth quarter instead of the first quarter of 2022, as it had previously expected, executives said on a post-earnings call.