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International Business Times

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Bank of America CEO Says The Company Spends $250 Million A Year on GLP-1 Drugs for Their Employees. He Calls It a Good Investment

Bank of America Brian Moynihan America Eli Lilly Novo Nordisk Lilly CNBC Obesity

Bank of America CEO Brian Moynihan said the company has dramatically increased its investment in medications such as Novo Nordisk's Ozempic and Wegovy and Eli Lilly's Zepbound. (Credit: Anna Moneymaker/Getty Images)

Bank of America is spending more than $250 million annually to cover GLP-1 weight loss medications for its workforce, betting that costly obesity treatments will ultimately pay off through healthier employees and lower long-term healthcare costs.

Speaking with CNBC on Wednesday, Bank of America CEO Brian Moynihan said the company has dramatically increased its investment in medications such as Novo Nordisk's Ozempic and Wegovy and Eli Lilly's Zepbound, which have become some of the most sought-after prescription drugs in the United States for treating obesity and diabetes.

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