The Danish pharmaceutical said it was ending the partnership because Hims is selling and promoting a cheaper copycat of its blockbuster drug Wegovy.

The Danish maker of obesity drugs abruptly ended a Wegovy distribution deal with the telehealth firm, citing allegations about Hims’ compounding and deceptive marketing practices.

Key Takeaways Hims & Hers shares plunged nearly 35% Monday after Novo Nordisk said it is pulling Wegovy from the platform, citing "illegal" and "deceptive" practices.The Danish drugmaker said Hims & Hers has continued to sell illicit compounded versions of its drug that it says may not be as safe.