"Blatantly anti-competitive": Loblaw and Manulife deal to provide specialty drugs sparks backlash
Manulife and Loblaw are facing backlash after the companies announced that they are teaming up to provide specialty drug care.
The Canadian insurance company revealed that as of January 22, the Manulife Specialty Drug Care program would be “primarily delivered” through Loblaw pharmacies including Shoppers Drug Mart.
“We feel the relationship with Shoppers Drug Mart/Loblaw Companies is the right next step in the ongoing evolution of Manulife’s Specialty Drug Care, a program that is even more important as Canadians deal with ever-increasing complexities and costs associated with the medications they use,” reads the announcement, which was addressed to business owners, plan holders and administrators on January 17.
According to Manulife, the Specialty Drug Care program includes medications that are usually expensive and difficult for a patient to administer or store.
This includes drugs meant 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 between Manulife and Loblaw will affect around 260 medications, according to The Canadian Press.
Canadians are slamming this new deal on social media.
Many accused the companies of being “anti-competitive.”
“Manulife Financial Corp. announced its coverage of certain prescription drugs will only apply at Loblaw Cos. Ltd. pharmacies.”
This is blatantly anti-competitive and needs to be stopped immediately. https://t.co/tVpiqGDnIx
— Nathaniel Arfin (@ArfinNathaniel) January 30, 2024
Under new deal with Manulife, Shoppers Drug Mart owner Loblaw to get monopoly right to dispense certain medicines to those enrolled in Manulife drug benefit plans
Curious who will say anything about this anti-competitive arrangement https://t.co/HS3YqwHy9a
— Tom Parkin (@TomPark1n) January 30, 2024
One X user said, “it will destroy smaller pharmacies.”
https://t.co/yndjSIwUFG Loblaws just keeps trying to use its size monopolize markets. This should be illegal in every province, not just Quebec. Where are our anti-trust laws? If Loblaws and SDM pull this scam off it will destroy smaller pharmacies.
— Captain Dick (@CaptainDick12) January 30, 2024
Others shared their distrust in any business that’s touched by Loblaw.
The Weston empire at @LoblawsCanada who brought us that bread-price-fixing scam join with @Manulife for prescriptions : what could possibly go wrong?
Manulife, Loblaw reach deal on specialty drugs. Why some experts are concerned | https://t.co/kY75acXuhv https://t.co/jsVNTPns0w— David #CeasefireNOW Heap (@DavidHeap) January 30, 2024
Will this be extended to other aspects of care once there are Loblaw clinics?
Once again, I’m asking you to proceed with caution before giving greater control of health care to the company that brought us the bread price fixing scandal etc. https://t.co/PF3DGk1Udi
— Dr. Adam Ogieglo (@AOgieglo) January 30, 2024
Canada is a banana republic, but instead of bananas it’s Loblaw’s real estate portfolio. https://t.co/c66UTEM7tj
— Joshua Hind (@joshuahind) January 30, 2024
Loblaw has yet to step foot out of hot water. The grocery giant recently scrapped its 50% discount on expiring items, which outraged Canadian shoppers.
The public outcry caused the grocery giant to reconsider this decision and reinstate the discount.
Daily Hive has reached out to Manulife for comment.
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