Hims & Hers stock price is surging today. A surprising deal with Novo Nordisk is the reason why

Shares in Hims & Hers Health (NYSE: HIMS) are soaring this morning after a report that the telehealth company is entering into a deal with Novo Nordisk A/S (NYSE: NVO) to sell its popular GLP-1 weight-loss drugs, including Wegovy.

The deal is as surprising as Hims & Hers’s surging stock price this morning, especially considering that just last month, Novo was threatening to sue the telehealth provider. Here’s what you need to know.

What’s happened?

Late on Friday...