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Manulife cancels drug deal with Loblaw

About 260 meds were only going to be available at Shoppers Drug Mart or other Loblaw-owned pharmacies

Bill Wilson, Senior editor at Supermarket News

February 6, 2024

1 Min Read
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The exclusive arrangement between Manulife and the grocer, made public on Jan. 30, involved around 260 medications under Manulife’s Specialty Drug Care program.Loblaw Cos.

Just days after announcing a deal with Loblaw, insurance provider Manulife Financial Corp. is taking a step back, reports Global News.

The exclusive arrangement between Manulife and the grocer, made public on Jan. 30, involved around 260 medications under Manulife’s Specialty Drug Care program. The meds are used to treat complex, chronic, or life-threatening conditions like rheumatoid arthritis, Crohn’s disease, multiple sclerosis, pulmonary arterial hypertension, cancer, osteoporosis, and hepatitis C. 

The deal made the drugs only available at Shoppers Drug Mart and other Loblaw-owned pharmacies.

Now Manulife is saying those meds can be purchased at any pharmacy. The change, according to the insurance provider, came after hearing concerns shortly after the deal was announced. 

“Though this change impacts only a small number of our members, it helps ensure that all Canadians we support have choice, access, and flexibility in managing their health. We are proud to partner with thousands of pharmacies across the country and contribute to a strong and healthy Canadian healthcare system,” said Manulife Canada Chief Executive Naveed Irshad in a statement.

Canada’s federal minister in charge of promoting competition, Francois-Philippe Champagne, took issue with the exclusive arrangement because it limits the pharmacy options for patients who need the medication. Champagne said the government was examining the deal.

 

 

 

About the Author

Bill Wilson

Senior editor at Supermarket News

Bill Wilson is the senior editor at Supermarket News, covering all things grocery and retail. He has been a journalist in the B2B industry for 25 years. He has received two Robert F. Boger awards for his work as a journalist in the infrastructure industry and has over 25 editorial awards total in his career. He graduated cum laude from Southern Illinois University at Carbondale with a major in broadcast communications.

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