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IGM Financial Inc
Symbol IGM
Shares Issued 236,629,506
Close 2024-10-23 C$ 41.80
Market Cap C$ 9,891,113,351
Recent Sedar Documents

Globe says IGM, rivals hear Ontario urged to limit PPNs

2024-10-24 08:34 ET - In the News

Also In the News (C-IFC) Intact Financial Corp
Also In the News (C-L) Loblaw Companies Ltd
Also In the News (C-MFC) Manulife Financial Corp
Also In the News (C-SLF) Sun Life Financial Inc

The Globe and Mail reports in its Thursday, Oct. 24, edition that health care providers are urging the Ontario government to limit exclusive agreements between insurers and pharmacies that restrict patient choice. The Globe's triple bylined item reports that insurers contend these deals are necessary for cost control. These comments were submitted during consultations on preferred pharmacy networks (PPNs), which ended on Tuesday. PPNs came into the spotlight earlier this year with a now-cancelled deal between Loblaw and Manulife Financial Group, which would have seen patients restricted to buying drugs from Loblaw-owned pharmacies. Since then, the Ontario College of Pharmacists has decried the practice and the provincial government has been consulting the industry on whether to restrict these deals. Groups that represent health care providers and small businesses are in favour of Ontario restricting these deals, with some advocating for the province to copy Quebec, which bans PPNs entirely. The Ontario Pharmacists Association said restrictions on PPNs are needed to protect patients' choice of which pharmacists they work with, along with creating an equal playing field for all pharmacies to compete for patients' business.

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