Novo Nordisk A/S said it would sell its popular weight-loss drug Wegovy for a steeply reduced price on several telehealth platforms. The strategy comes as rival Eli Lilly & Co. is working with telehealth firms to distribute lower-cost vials of its own obesity medication,

Novo Nordisk said on Tuesday it was partnering with telehealth firms Hims & Hers , Ro and LifeMD to sell branded versions of Wegovy, ahead of potential restrictions on selling compounded versions of the obesity drug.

Shares of online health platform Hims & Hers Health soared Tuesday after the company announced a partnership with Novo Nordisk to bring weight-loss drug Wegovy to its customers.