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Sun Life Financial Inc
Symbol SLF
Shares Issued 577,567,842
Close 2024-08-27 C$ 73.56
Market Cap C$ 42,485,890,458
Recent Sedar Documents

Globe says Manulife, others see PPNs back in the news

2024-08-28 06:53 ET - In the News

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

The Globe and Mail reports in its Wednesday, Aug. 28, edition that an Ontario teacher is asking the province's pharmacy regulator to take disciplinary action against the operators of MemberRx, a pharmacy created to exclusively serve the Ontario Teachers Insurance Plan, saying it harms patients by taking away their ability to choose where to go to fill their prescriptions. The Globe's Susan Krashinsky Robertson and Clare O'Hara write that the complaint argues that MemberRx is no different from a "preferred provider network," or PPN. PPNs commonly involve deals in which pharmacies provide drugs at a lower cost to insurance plans, in exchange for members of those plans being directed to fill prescriptions through that pharmacy. PPNs came into the spotlight earlier this year when Manulife Financial cancelled a deal with Loblaw, after public backlash over a requirement for plan members to fill specialty medications through Loblaw-owned pharmacies, including Shoppers Drug Mart. Pharmacy regulators across the country have been considering whether to restrict such deals, and last week, the Ontario government launched a consultation seeking input on whether to limit insurers" use of PPNs as well.

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