Novo Nordisk said on Monday it would halt its collaboration with U.S. telehealth company Hims & Hers Health over the distribution of the Danish company's blockbuster Wegovy weight loss drugs. The two companies had announced a collaboration in April for Hims & Hers to sell Wegovy through a bundled offering on the telehealth company's platform.

Novo Nordisk has terminated its partnership with Hims & Hers Health for the distribution of its Wegovy weight-loss drug, leading to a significant drop in the latter's stock value. The separation comes amid disputes over marketing practices and the sale of compounded Wegovy alternatives.