Daily Market Updates: Bank of America says it spends $250 million yearly on GLP-1 drugs

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Bank of America says it spends $250 million yearly on GLP-1 drugs

The CEO said the figure reflects how employers are responding to rising GLP-1 demand, which can run into thousands of dollars per patient each year.

Reported · Written up by our desk · Europe

Bank of America has disclosed that it spends $250 million per year on GLP-1 drugs for employees, according to the bank CEO as covered by CNBC World and CNBC Finance.

The reports say the move is aimed at addressing soaring demand for GLP-1 medications such as Ozempic and Wegovy, drugs that can cost thousands of dollars per patient annually.

CNBC notes that employers across the market have been grappling with how to manage the growing use of GLP-1 therapies amid their high costs.

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Sources

CNBC WorldBank of America spends $250 million a year on GLP-1 drugs for its employees, CEO says

CNBC FinanceBank of America spends $250 million a year on GLP-1 drugs for its employees, CEO says

Global Markets

Bank of America says it spends $250 million yearly on GLP-1 drugs

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