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Sun Life Financial Inc
Symbol SLF
Shares Issued 577,567,842
Close 2024-08-28 C$ 72.67
Market Cap C$ 41,971,855,078
Recent Sedar Documents

Globe says Manulife, rivals hear call to ban PPNs

2024-08-29 07:35 ET - In the News

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

The Globe and Mail reports in its Thursday, Aug. 29, edition that the head of the Ontario Pharmacists Association (OPA) is pushing for a ban on exclusivity deals between insurers and pharmacies. The Globe's Susan Krashinsky Robertson and Clare O'Hara write that these deals limit people's freedom to choose their pharmacist and other health care providers. The Ontario Ministry of Finance is seeking input on whether to restrict preferred provider networks, which involve pharmacies providing drugs at lower costs to insurance plans in exchange for directing people to fill prescriptions at a preferred pharmacy. Little is known about the financial details or who benefits from these deals. OPA chief executive officer Justin Bates hopes PPNs will be "eliminated" from Canadian market. Among the options that the provincial government is mulling is requiring insurers to open PPNs to any pharmacies willing to participate under an insurer's terms. PPNs have faced scrutiny recently. Manulife Financial backed out of a deal with Loblaw this year after public backlash over a proposed arrangement that would have required its plan members to fill specialty drug prescriptions only at Loblaw-owned pharmacies, such as Shoppers Drug Mart.

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