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Morneau Seeks Drug Plan That Won’t ‘Throw Out’ Current System

  • Finance minister says parts of existing coverage work well
  • Canadian government cites need to be fiscally responsible
Bill Morneau
Bill MorneauPhotographer: Andrew Harrer/Bloomberg

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.