Novo Nordisk terminates its collaboration with Hims & Hers Health, Inc. due to concerns about deceptive marketing and allegations of selling illegitimate, knockoff versions of the pharmaceutical firm's weight-loss drug, Wegovy.

"After over one month into the collaboration, Hims & Hers Health, Inc. has failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization' and are disseminating deceptive marketing that put patient safety at risk," a Novo Nordisk spokesperson told CBS MoneyWatch. "This is unacceptable, and that is why we have decided to end the collaboration."

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