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IGM Financial Inc
Symbol IGM
Shares Issued 236,552,646
Close 2025-05-15 C$ 44.24
Market Cap C$ 10,465,089,059
Recent Sedar Documents

Globe says Manulife, rivals hear PPNs back in spotlight

2025-05-16 06:42 ET - In the News

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

The Globe and Mail reports in its Friday edition that the Ontario government will hold a second public consultation on restricting exclusivity deals between pharmacies and insurers. The Globe's Chris Hannay and Clare O'Hara write that this consultation was announced in the province's 2025 budget. Efforts by the Ontario College of Pharmacists to address preferred provider networks (PPNs) have stalled. The Ontario government's budget noted that its initial consultation last year generated significant interest from stakeholders, including insurers, pharmacies and patient advocates. A second consultation will gather feedback on potential policy options. One option it cites is to introduce "any-willing-provider" legislation that would "enable any eligible pharmacy to join PPNs." The measure would end "closed" PPNs, where patients can only get medication reimbursed from specific pharmacies tied to their insurance. In contrast, "open" PPNs allow more pharmacies to join if they meet certain quality and pricing standards. In early 2024, Manulife Financial and Loblaw-owned pharmacies faced backlash after requiring patients to buy certain specialty drugs exclusively from Loblaw pharmacies. They eventually cancelled the deal.

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