Novo, Lilly Tapping Telehealth to Sell Cheaper Weight-Loss Drugs

Hims & Hers Health Inc. soared after 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 workingwith telehealth firms to distribute lower-cost vials of its own obesity medication, Zepbound, as competition heats up. Lilly and Novo have struggled to get widespread insurance coverage for their obesity medications and at first viewed telehealth companies, which started out by selling copycat versions of their drugs, as competitors.

Now they’re teaming up as Novo and Lilly see the opportunity to ...