Hims & Hers Health Inc. (HIMS) saw its stock price surge by 5.05% in pre-market trading on Thursday, as investors reacted to news indirectly related to the company's involvement in the booming weight-loss drug market.

The stock's movement appears to be linked to CVS Health's announcement of a new partnership with Novo Nordisk, the maker of the popular weight-loss drug Wegovy. In its earnings report, CVS revealed that it would be the first retail pharmacy to partner with NovoCare, Novo Nordisk's online direct-to-consumer platform. Notably, the report mentioned that Hims & Hers, along with another telehealth platform Ro, are also partners with Novo Nordisk for distributing Wegovy.

This development highlights the growing importance of the weight-loss drug market and the potential benefits for companies involved in its distribution. As a partner in Novo Nordisk's distribution network, Hims & Hers is well-positioned to capitalize on the increasing demand for Wegovy and similar GLP-1 drugs. The market's positive reaction to this news suggests that investors see significant growth potential for HIMS in this rapidly expanding sector of the healthcare industry.