Novo Nordisk and Hims & Hers Health announced a collaboration agreement focused on weight loss treatment services, ending what sources described as a previous public dispute between the companies.

Shares of Hims & Hers, a telehealth platform that provides direct-to-consumer healthcare services, surged following news of the partnership with the Danish pharmaceutical giant. The company's stock experienced significant gains in trading after the announcement.

Novo Nordisk, maker of popular weight loss medications including Ozempic and Wegovy, will work with Hims & Hers to expand access to obesity treatment options. The collaboration represents a notable shift in the relationship between the two companies, which had previously been at odds publicly.

The partnership comes as demand for GLP-1 weight loss medications has surged dramatically, creating supply constraints and driving interest in alternative delivery methods. Telehealth companies like Hims & Hers have emerged as key distribution channels for these treatments.

Details of the specific terms of the collaboration were not immediately disclosed by either company. The agreement appears designed to leverage Hims & Hers' direct-to-consumer platform alongside Novo Nordisk's pharmaceutical expertise in the rapidly growing weight management market.