Manulife Financial Corp. has rescinded a decision that would have limited where its customers could fill prescriptions.
At the end of January, news broke that the insurance agency had struck a deal with Canadian supermarket chain Loblaw Companies Ltd.
The proposed deal would have restricted coverage of certain medications unless acquired through Loblaw-branded pharmacies such as Shoppers Drug Mart.
The decision garnered public concern and drew the ire of Innovation Minister François-Philippe Champagne, who criticized the move, saying that the companies involved “don’t get the message” regarding the need for increased competition.
READ MORE: Manulife and Loblaw reach prescription drugs deal
Manulife Canada’s CEO Naveed Irshad said the company has been listening to those concerns over the past week and that Monday’s decision to walk back the exclusive deal with Loblaws was the result of ensuring all Canadians “have choice, access, and flexibility in managing their health.”
The proposed plan would have affected 260 different medications, treating a range issues of issues such as cancer, osteoporosis, hepatitis C, rheumatoid arthritis, Crohn’s, multiple sclerosis and pulmonary arterial hypertension.
“With this decision, 100 per cent of the Canadians we support will be able to receive their medications at a pharmacy of their choosing,” reads a statement posted on Manulife Canada’s website.
