13:59:32 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Loblaw Companies Ltd
Symbol L
Shares Issued 310,027,680
Close 2024-04-08 C$ 149.17
Market Cap C$ 46,246,829,026
Recent Sedar Documents

Globe says Manulife, Loblaw see PPN backlash grow

2024-04-09 07:29 ET - In the News

See In the News (C-MFC) Manulife Financial Corp

The Globe and Mail reports in its Tuesday, April 9, edition that several provincial regulators responsible for overseeing the pharmacist profession are mulling options to limit the use of exclusivity agreements between insurers and pharmacies. The Globe's triple bylined item reports that there is a growing backlash against such arrangements. For years, the private health insurance industry has been increasingly using preferred pharmacy networks (PPNs), also known as preferred provider networks. However, these agreements recently drew public attention when Manulife Financial, the country's largest insurer, announced a PPN with Shoppers Drug Mart. This arrangement would have required chronically ill patients to buy specific specialty drugs only from pharmacies owned by Loblaw, including Shoppers. However, soon after the announcement, Manulife cancelled the agreement. The board of the Ontario College of Pharmacists voted on March 25 to draft a position statement critical of PPNs, and directed staff to work with the Ontario Ministry of Health to develop new regulations restricting the use of PPNs in the province. The Globe notes that several provinces have expressed concern about PPNs and are pursuing options.

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