Hims & Hers’ stock plunges. Here’s why Wegovy parent ended its partnership with the company.

Hims & Hers Health Inc.’s stock fell sharply on Monday after pharmaceutical giant Novo Nordisk, maker of the weight-loss drug Wegovy, said it was ending a collaboration with the telehealth-consultation company less than two months after it started.

Novo Nordisk said in a prepared statement that it has ended its collaboration with Hims & Hers

HIMS due to “deceptive promotion and selling of illegitimate, knockoff versions of Wegovy that put patient safety at risk.”