Breakups, Novo Nordisk (NYSE: NVO) announced it would terminate its collaboration with (NYSE: HIMS)

Hims & Hers Health (NYSE: HIMS) stock plunged 20% after Danish pharmaceutical giant Novo Nordisk (NYSE: NVO) announced it would terminate its collaboration with the telehealth company regarding weight loss drug sales.

The partnership, which was expanded just this past April, allowed Americans to access Novo Nordisk’s FDA-approved weight loss drug Wegovy through the Hims & Hers platform. The collaboration had offered a bundled service starting at $599 per month that included all dose strengths of Wegovy along with a Hims & Hers membership providing 24/7 care, clinical support, and nutrition guidance.

When the partnership was initially announced, it was described as a “long-term collaboration designed to make proven obesity care and treatments more accessible, more affordable, and more connected for millions of Americans.” The companies had positioned the arrangement as pairing innovative treatments with a leading care platform to enhance obesity treatment options for consumers.

Novo Nordisk, the maker of popular weight loss drugs Wegovy and Ozempic, did not immediately provide detailed reasons for ending the collaboration. The termination represents a significant setback for Hims & Hers, which had integrated the weight loss medication offering into its telehealth services earlier this year.