08:32:24 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Manulife Financial Corp
Symbol MFC
Shares Issued 1,805,798,064
Close 2024-03-25 C$ 32.98
Market Cap C$ 59,555,220,151
Recent Sedar Documents

Globe says Manulife, rivals hear PPN deals panned

2024-03-26 07:42 ET - In the News

Also In the News (C-IFC) Intact Financial Corp
Also In the News (C-IGM) IGM Financial Inc
Also In the News (C-L) Loblaw Companies Ltd

The Globe and Mail reports in its Tuesday edition that the Ontario College of Pharmacists has raised concerns about exclusive agreements between pharmacies and insurers, commonly known as preferred pharmacy or provider networks (PPNs). The Globe's triple bylined item reports that at a Monday board meeting, the college directors discussed the need for new regulatory restrictions on PPNs. They also heard about pharmacists being pressured by corporate pharmacy owners to charge for unnecessary services. These exclusivity deals are becoming increasingly common in the private health insurance industry, although the terms of the agreements may vary. Manulife Financial recently announced -- and then cancelled -- one such deal with Shoppers Drug Mart that would have required chronically ill patients to buy their medication only from pharmacies owned by Loblaw, including Shoppers. The college's board voted Monday to draft a position statement critical of PPNs, after being briefed on pharmacists' concerns that the deals restrict patient autonomy and may limit patients' access to treatment. The staff report cites as a model Quebec legislation that says no insurance plan may restrict a patient's right to choose their pharmacist.

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