Target will sell its pharmacy, clinic businesses to CVS

Target is selling its pharmacy and clinic businesses to the drugstore chain CVS Health for about $1.9 billion in a deal that combines the resources of two retailers seeking to polish their reputations as health care providers.

The acquisition will allow CVS Health to reach more patients and expand its in-store MinuteClinic brand, which it has been expanding aggressively for the past several years. It also gives the nation’s second-largest drugstore chain a retail presence in Seattle, Denver and Salt Lake City.

Target customers, in turn, will gain access to CVS Health Corp.’s pharmacy care programs that help them manage their prescriptions, find low-cost generic drugs and buy specialty medications, a rapidly growing slice of the pharmaceutical market.

The deal includes more than 1,660 pharmacies in Target stores that will be branded as CVS/pharmacy

United Technologies plans to exit helicopter business

HARTFORD, Conn. — United Technologies has announced it will separate its Connecticut-based Sikorksy Aircraft business as it exits the helicopter business.

The Hartford conglomerate says it will focus on high-technology systems and services to the aerospace and building industries. A decision on selling or spinning off Sikorsky will be made by the end of the third quarter.

United Technologies has previously said Sikorsky didn’t fit with plans for long-term growth.

Excluding Sikorsky, United Technologies expects 2015 earnings per share of $6.35 to $6.55 on sales of $58 to $59 billion.