Health Minister Kim Wilson says Bermuda’s competition laws must be modernised to guard against ‘de facto monopolies’
Following a move by an insurer to narrow its drug distribution network, the Health Minister has reiterated that Government is committed to introducing anti-monopoly legislation. (SCROLL down for full Ministerial statement)
This week, Bermuda Broadcasting broke the story that Phoenix Pharmacies was to become Allshores’ designated provider for a list of 46 medications, prompting concern from independent pharmacies and doctors.
However, Kim Wilson today said she has directed the Bermuda Health Council to “formally request that Allshores implement a 60-day deferral of its pharmacy network policy to 1 May”.
“This pause is essential to allow comprehensive review, data analysis, and structured dialogue. Decisions of this magnitude must be guided by evidence and public accountability.”
The Minister of Health added that, in both their 2025 election platform and the 2025 Throne Speech, Government had made it clear that they intend to introduce modern anti-trust legislation.
“In a small island economy such as Bermuda’s,” the Minister said, “markets are naturally concentrated”.
“Without appropriate legislative safeguards, consolidation can occur quickly and with system-wide consequences.”
“Competition law is not about punishing success; it is about protecting the public interest. It ensures that innovation thrives, that consumer choice is preserved, and that market power is not exercised in ways that undermine affordability, fairness, or access.”
Citing the merger of BF&M and Argus into Allshores, and the vertical integration now extending into pharmacy networks, Minister Wilson says this shows why “Bermuda must modernize its competition framework”.
However, she added that proposed legislation will not target any single entity, but will establish clear, fair and transparent rules that promote a level playing field.
Along with the introduction of such legislation, the Minister also said Government is committed to enhancing the existing national drug formulary to reduce costs.
UPDATE, 5pm Friday:
The Bermuda Health Council has been in touch with Allshores regarding the Minister’s request to pause its plans. No change to the timeline has yet been confirmed.
A BHeC spokesperson told Bermuda Broadcasting, “at this time, the Council has not received confirmation that the effective date has been adjusted.”
“Implementation decisions remain within Allshores’ operational remit, and any change to the timeline would be communicated directly by them.”
In a statement this afternoon, Allshores said, “we anticipate continuing to work collaboratively and in partnership with the Health Council over the coming days — as we have done throughout the development of this initiative and prior to its launch.”
“We remain committed to maintaining an open and constructive dialogue as this initiative progresses.”
Ministerial Statement by Minister of Health, Kim Wilson
