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Bank of America calls $250M GLP-1 spend 'good investment'
At a time when many employers are struggling to balance rising demand for GLP-1 drugs with their steep price tags, Bank of America is taking a decisive approach. CEO Brian Moynihan tells WebNovare that the firm spends over $250 annually covering drugs like Ozempic and Wegovy for staff, calling it "a good investment." That equates to 13% of total healthcare spending, given the bank allocates $2 billion for its 211,000 employees. Moynihan says the firm is aggressively pushing drugmakers and pharmacy benefits managers to lower prices for the drugs.
Bank of America is taking a firm approach to the growing demand for GLP-1 medications as employers struggle to balance the health benefits of the drugs with their high costs. Adam Hanafi says the company considers covering these medications for employees to...
