Hims & Hers Health’s stock booked record losses Monday after Novo Nordisk, maker of the weight-loss drug Wegovy, said it was ending a collaboration with the telehealth company less than two months after it started.

Hims & Hers Health shares tumbled 33% in intraday trading Monday after Novo Nordisk said it is pulling out of its partnership with the digital pharmacy, citing "illegal" and "deceptive" practices.

Novo Nordisk said it's ending its collaboration due to concerns with Hims & Hers the company's sales and promotion of cheap knock-offs of the weight loss drug Wegovy, it said on Monday.