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IGM Financial Inc
Symbol IGM
Shares Issued 237,053,994
Close 2024-07-09 C$ 37.44
Market Cap C$ 8,875,301,535
Recent Sedar Documents

Globe says IGM, rivals hear Ontario regulator pan PPNs

2024-07-09 08:24 ET - In the News

Also In the News (C-IFC) Intact Financial Corp
Also In the News (C-MFC) Manulife Financial Corp
Also In the News (C-SLF) Sun Life Financial Inc
Also In the News (C-TD) Toronto-Dominion Bank

The Globe and Mail reports in its Tuesday, July 9, edition that the Ontario College of Pharmacists has criticized the practice of exclusive networks between drugstores and insurance companies. A triple bylined item in The Globe reports that the regulator has not yet taken enforcement action. This comes after concerns were raised about these arrangements potentially steering patients and infringing on the individual's right to choose a health care provider. On Monday, the regulator voted to issue a position statement saying exclusive deals called preferred pharmacy networks and other payer-directed care models pose a "potential risk of harm to patients, contravene established ethical principles guiding the profession and conflict with standards of quality patient care." The majority of Canada's largest insurance companies have some form of PPN arrangements with pharmacies, particularly for agreements that cover expensive specialty drugs to treat conditions such as rheumatoid arthritis, Crohn's disease and multiple sclerosis. The agreements are often complex for consumers to navigate and provide very little transparency on whether there are any financial arrangements between the parties involved.

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