The deal could expand access to its in-demand obesity drug at the expense of Eli Lilly, whose shares fell by double digits on Thursday.

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 working with telehealth firms Hims & Hers , Ro and LifeMD to sell Wegovy, as it looks to stem sales of copies of its popular weight-loss drug and expand access to cash-paying patients.