Canadian finance minister Bill Morneau is signaling he won’t introduce a big-ticket universal plan to cover drug costs, opting instead for a cheaper solution that helps the uninsured.
In his budget on Tuesday, Morneau announced the creation of an Advisory Council on the Implementation of National Pharmacare. On Wednesday, he drew a distinction between a “pharmacare strategy” and a “pharmacare plan,” saying he wants the former and doesn’t want to totally upend the current system that includes companies like Manulife Financial Corp. and Great-West Lifeco Inc., which is controlled by Power Corp. of Canada.