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Toronto-Dominion Bank
Symbol TD
Shares Issued 1,748,517,496
Close 2024-11-04 C$ 76.54
Market Cap C$ 133,831,529,144
Recent Sedar Documents

Globe says Manulife, rivals hear PPNs may reduce choice

2024-11-05 07:50 ET - In the News

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

The Globe and Mail reports in its Tuesday edition that the Competition Bureau is concerned that exclusive deals between insurers and pharmacies may limit Canadians' choices in health care. The Globe's triple bylined item reports that in its response to the Ontario government's consultation on regulating "preferred pharmacy networks" (PPNs), the Bureau highlighted potential obstacles for competing pharmacies. PPNs have gained attention, particularly after Manulife Financial's controversial arrangement with Loblaw, which was cancelled due to public backlash. This deal would have required Manulife plan members to obtain certain specialty medications exclusively from Loblaw pharmacies, prompting numerous complaints to the Bureau before it was retracted. Health care providers in Ontario have called for restrictions on PPN deals, while insurance companies argue they are essential for cost control. The details of these agreements remain unclear. "At time of writing, the Bureau believes more information would be required to determine what benefits, if any, PPNs might deliver, and how the use of PPNs in the employer-sponsored drug insurance sector may be impacting patients and competition," the Bureau wrote in the submission.

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