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 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.