Hims & Hers stock plummets after Novo Nordisk ends partnership over “knock-off” Wegovy

This morning, the Danish pharmaceutical giant Novo Nordisk announced the abrupt end of its brief partnership with telehealth company Hims & Hers Health, Inc. (NYSE: HIMS), citing concerns over Hims & Hers’ “knock-off” weight loss drugs. Now, Hims & Hers’ shares are plummeting as investors react to the news.

It’s the latest update in a somewhat volatile year for Hims & Hers. Just this April, the company’s stock spiked after it initially announced a collaboration with Novo...