Manulife Financial has appointed Dr. Laureen Rance to serve as director of Pharmaceutical Relations.

The insurer says that this newly-created position is part of its strategy to deal with “significant challenges” related to the cost and accessibility of prescription drugs. In a press release announcing Dr. Rance’s appointment, Manulife suggested that unless the problem is addressed with a specific plan, the increasing prevalence of high-cost specialty drugs could end up affecting the sustainability of private group benefit plans.

Dr. Rance has worked in health care for more than twenty years, first as a staff pharmacist and then in the pharmaceutical industry, where she was a reimbursement strategist with a focus on health economics.

“My extensive background working with varied pharmaceutical stakeholders will enable me to work with the manufacturers,” says Dr. Rance. “Together we will find effective ways to continue to provide Manulife customers with affordable access to medication and quality care.”