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Sun Life Financial Inc
Symbol SLF
Shares Issued 558,412,030
Close 2025-11-06 C$ 83.41
Market Cap C$ 46,577,147,422
Recent Sedar Documents

Globe says Manulife, rivals see Ontario closing PPNs

2025-11-07 07:18 ET - In the News

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

The Globe and Mail reports in its Friday, Nov. 7, edition that the Ontario government will introduce a bill to ban closed preferred pharmacy networks. A triple bylined item led by Chris Hannay reports that Finance Minister Peter Bethlenfalvy announced this during the fall economic statement on Thursday. The province held public consultations on PPNs in the summers of 2024 and 2025. The Ontario government plans to introduce legislation for two options: an "any willing provider" framework that permits pharmacies to join insurers' networks if they meet quality and pricing standards, and a standardized process for patients to get prescriptions filled outside their network. A network is "open" if any pharmacy can apply, and "closed" if it cannot. In early 2024, Manulife Financial and Shoppers Drug Mart faced backlash over a deal requiring some chronic patients to fill prescriptions at Loblaw pharmacies. They later announced the deal's cancellation. However, in September, The Globe reported that they had quietly established a new arrangement, with Manulife contracting a Shoppers subsidiary to manage its specialty drug care program for patients on high-cost medications.

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