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 unveiled its latest data for a weight-loss drug candidate, but shares of the maker of Wegovy and Ozempic tumbled as the results missed investors’ expectations and reignited concerns about Novo’s rivalry with Eli Lilly.

Novo Nordisk has announced it is ending its distribution collaboration with US telehealth firm Hims & Hers Health over the popular weight-loss drug, Wegovy. The Danish pharmaceutical giant and Hims & Hers had initially partnered in April, with plans for the telehealth company to offer Wegovy as part of a bundled package on its platform.